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Construction Equipment Rental Market Share

ID: MRFR//6035-CR | 188 Pages | Author: Pradeep Nandi| July 2023

Market share positioning strategies in the Construction Equipment Rental Market are essential for companies looking to establish a strong foothold and compete effectively in the industry. These strategies encompass various approaches aimed at capturing a larger portion of the market and solidifying a company's presence within it.

One primary strategy employed by companies in the Construction Equipment Rental Market is differentiation. This involves offering unique features or services that set them apart from competitors. For example, companies may focus on providing specialized equipment tailored to specific industries or applications, such as heavy machinery for infrastructure projects or specialized tools for residential construction. By offering differentiated products or services, companies can attract customers who have specific needs that other competitors may not fulfill.

After the pandemic, there are many growing trends found in the automation industry which is believed to drive the growth of the construction equipment rental market share. In present times we can find that the construction industry is getting the knowledge of using the rental equipment.

Another key strategy is pricing strategy. Companies may choose to compete on price by offering competitive rates or implementing pricing strategies such as discounts, bulk pricing, or leasing options. Price-conscious customers may be drawn to companies that offer affordable rental rates without compromising on the quality of equipment or service. Additionally, companies may use pricing as a tool to gain market share by undercutting competitors or offering better value propositions.

Market segmentation is also crucial for market share positioning. Companies may target specific customer segments based on factors such as industry, project size, geographic location, or rental duration. By understanding the unique needs and preferences of different customer segments, companies can tailor their marketing efforts and service offerings to better meet those requirements. For example, a company may focus on serving large construction firms with long-term rental needs, while another may target smaller contractors with short-term rental options.

Furthermore, strategic partnerships and alliances can play a significant role in market share positioning. Companies may form alliances with manufacturers, suppliers, or other service providers to enhance their product offerings, expand their geographic reach, or leverage complementary capabilities. For instance, a rental company specializing in aerial work platforms may partner with a manufacturer to exclusively offer the latest models or collaborate with a logistics provider to ensure timely equipment delivery to customers across different regions.

In addition to differentiation, pricing, market segmentation, and strategic partnerships, customer service and satisfaction are paramount for market share positioning. Providing excellent customer service, timely support, and efficient equipment maintenance can help companies build strong relationships with customers and differentiate themselves from competitors. Positive customer experiences can lead to repeat business, referrals, and a positive reputation within the industry, ultimately contributing to increased market share.

Moreover, innovation plays a crucial role in market share positioning strategies. Companies that invest in research and development to develop innovative equipment, technologies, or rental solutions can gain a competitive edge and attract customers looking for cutting-edge solutions. Whether it's introducing advanced telematics systems for equipment tracking and management or developing eco-friendly equipment options, innovation can drive customer interest and market penetration.

Overall, market share positioning strategies in the Construction Equipment Rental Market are multifaceted and dynamic, requiring companies to continuously assess market trends, customer preferences, and competitive dynamics. By focusing on differentiation, pricing, market segmentation, strategic partnerships, customer service, and innovation, companies can effectively position themselves to capture a larger share of the market and achieve long-term success in the industry.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2023
Forecast Period 2024-2032
Growth Rate 4.74% (2024-2032)

Global Construction Equipment Rental Market Overview


Construction Equipment Rental Market Size was valued at USD 95.1 Billion in 2023. The Construction Equipment Rental industry is projected to grow from USD 99.76 Billion in 2024 to USD 144.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.74% during the forecast period (2024 - 2032).


Construction Equipment Rental Market


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Construction Equipment Rental Market Trends




  • Proliferating Construction Industry




The increasing construction industry globally will rise the market demand for construction equipment rental during the forecast period. According to the recent report published by Construction Products Association (CPA) in May 2022, the construction output rises by 2.8% in 2022 and expected to rise by 2.2% in 2023 and Infrastructure output has increased by 8.8% in 2022 and is expected to rise by 4.6% in 2023. This will increase the demand for more construction equipment in the industry. Hence, increase the need for rental equipment over the projected timeline. Modern Construction equipment plays a vital role in the construction industry where business objectives are strictly time and margin driven. The modern construction equipment is very swift and reliable with high-quality control measures embedded into them as they have evolved over the years. One of the main reasons construction companies rent construction equipment is to keep expenses low. Renting a piece of heavy equipment costs significantly less than buying that equipment outright. The reduced cost of equipment rental means companies can get the machinery they need without compromising on the features that matter. In addition, new construction equipment often features built-in technology to improve safety, performance, and efficiency. This technology helps operators’ complete tasks faster and with less effort. The high price of new machinery pushes these improvements out of reach for many construction teams and contractors. However, rental companies increase the accessibility of the latest construction technology by making it available on a temporary, affordable basis. Such factors will further boost the adoption of rental equipment over the forecast period.


Shifting Trend Towards Rental Services


The factors such as increasing infrastructure development, rising construction activities, and growing demand for advanced equipment and machinery in various end-used industries such as agriculture, residential, oil & gas, mining, manufacturing, forestry, entertainment sector, commercial space, municipal & government project, transportation & logistics, will shift the trend towards rental services. Various types of construction equipment are used in the mining sector such as hydraulic excavators, wheel loaders, backhoe loaders, bull dozers, dump trucks, tippers, graders, pavers, asphalt drum/wet mix plants, breakers, vibratory compactors, cranes, forklifts, dozers, off-highway dumpers, drills, scrapers, motor graders, rope shovels etc. This equipment performs a variety of functions like preparation of ground, excavation, haulage of material, dumping/laying in specified manner, earth moving, material handling, road construction etc. Among all the equipment employed in the mining sector, earth-moving equipment are most widely used. Earth moving equipment in any mining project are used to move earth and minerals. While giant machines such as drills, electric shovels, and giant draglines, some of which have buckets that can move 160 cubic yards of material in one scoop are used for surface mining, complex equipment which can move material in a very headroom and limited space are used in underground mining.


Construction Equipment Rental Market Platform Segment Insights


Construction Equipment Rental Market Type Insights


Based on Type, the Construction Equipment Rental Market segmentation includes Earthmoving, Material Handeling, Heavy Vehicles, and Concrete & Road Construction. Earthmoving Type dominated the Construction Equipment Rental market in 2022 and is expected to grow at a highest CAGR during the forecast period. Among earthmoving equipment, Excavators are versatile earth-moving machines commonly rented in the construction equipment market. With their hydraulic systems and digging capabilities, they are used for various tasks like digging trenches, excavating foundations, demolishing structures, and moving heavy materials. Excavators offer different attachments such as buckets, breakers, and grapples, making them adaptable to different construction needs. Their ability to rotate 360 degrees and their various attachments make them valuable assets in the construction industry.


Among Concrete & Road Construction, Concrete pumps are crucial equipment in the construction industry for efficiently transferring liquid concrete. They are used to transport concrete from the mixer to the desired location, such as high-rise buildings or inaccessible areas. Concrete pumps provide precise and controlled delivery, ensuring that concrete is placed accurately and with minimal waste. They increase construction productivity by reducing manual labor and offer versatility in reaching various distances and heights. Concrete pumps enable faster construction and ensure a smooth and continuous flow of concrete, resulting in improved construction quality and reduced project timelines.


Figure1: Construction Equipment Rental Market, by Type, 2022 & 2032 (USD Billion)


Construction Equipment Rental Market, by Type


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Construction Equipment Rental Market Application Insights


The Application segment of the Construction Equipment Rental market is segmented into  Residential, Infrastructure, Oil and Gas, Mining, Manufacturing, Municipal and Government Projects, Transportation and Logistics, Agriculture, Forestry, Entertainment Sector, and Commercial Space. Transportation and Logistics industry dominated the Construction Equipment Rental market in 2022. The transportation and logistics sector benefits from the construction equipment rental market in various ways. Construction equipment rental services offer a range of machinery that supports infrastructure development, maintenance, and expansion in transportation and logistics. Road construction projects often require equipment such as pavers, crushers, and motors graders. These machines are crucial for constructing and maintaining roads, highways, and bridges. By utilizing construction equipment rental, transportation and logistics companies can access specialized equipment specifically designed for road construction, enabling them to complete projects efficiently and on schedule.


Construction equipment rental services accommodate the diverse needs of residential construction projects, ranging from single-family homes to apartment complexes and housing developments. Contractors and homeowners often rely on equipment rental to access a wide range of specialized machinery without the need for long-term ownership. Construction equipment such as excavators, loaders, bulldozers, and concrete pumps are commonly rented for residential construction. These machines facilitate various tasks, including site preparation, foundation excavation, material handling, concrete pouring, and landscaping. Equipment rental offers cost-effective solutions, allowing residential construction projects to access modern, well-maintained machinery without substantial upfront investments. Rental services also provide flexibility, allowing contractors to scale their equipment needs based on project requirements.


Construction Equipment Rental Market Regional Insights


By Region, the Construction Equipment Rental market is segmented into North America, South America, Europe, Asia Pacific, and Middle East and Africa. The China Construction Equipment Rental market held the highest market share in 2022 and is expected to exhibit a significant CAGR growth during the forecast period. The construction equipment rental market in China has experienced significant growth in recent years. The country's rapid urbanization, infrastructure development, and increasing construction activities have contributed to the rising demand for construction equipment. The market is characterized by a wide range of rental equipment, including excavators, loaders, cranes, bulldozers, and more. One key factor driving the growth of the rental market is cost-effectiveness. Renting equipment eliminates the need for large upfront investments, reduces maintenance costs, and provides flexibility in terms of equipment selection and usage duration. This has made rental services popular among construction companies, especially smaller and medium-sized enterprises.


The construction equipment rental market in North America has witnessed significant growth in recent years. The market is driven by several factors, including the increasing demand for construction equipment, cost-effective rental options, and the rising trend of outsourcing equipment needs. The region's robust construction industry, particularly in the United States and Canada, has created a favorable environment for equipment rental services. For instance, in 2021, the United States dominated the North American equipment rental market. Moreover, the growing adoption of advanced construction equipment and technologies has further fueled market growth. The market is highly competitive, with key players offering a wide range of equipment and value-added services.


The construction equipment rental market in South America has observed substantial growth in modern years. The region's expanding construction industry, coupled with the advantages of renting equipment over purchasing, has fueled the demand for rental services. Infrastructure development projects, urbanization, and a growing focus on renewable energy have been key drivers of the market. South American countries, such as Brazil, Argentina, and Chile, have been at the forefront of this market growth, with a rising number of construction projects and investments. Rental companies have capitalized on this opportunity by offering a wide range of equipment.


Figure4: Construction Equipment Rental Market Size By Region 2022 & 2032 (USD Billion)


Construction Equipment Rental Market Size By Region 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


The construction equipment rental market in Europe is a dynamic and thriving sector that caters to the diverse needs of the construction industry. Factors such as increasing infrastructure development, urbanization, and the need for cost-effective solutions have contributed to the expansion of the rental market. Europe is witnessing a surge in construction activities, including residential, commercial, and industrial projects. This has created a demand for various construction equipment such as excavators, loaders, cranes, and concrete pumps. Renting construction equipment provides companies with flexibility, allowing them to scale their operations based on project requirements while minimizing capital investment.


The construction equipment rental market in the Middle East has been experiencing notable growth. With the region witnessing a surge in construction and infrastructure development projects, the demand for construction equipment has soared. The rental market has emerged as a viable solution for contractors and construction companies, offering flexibility, cost-effectiveness, and access to a wide range of equipment. The Middle East's rapid urbanization, expanding transportation networks, and ambitious mega-projects, such as Expo 2020 Dubai and FIFA World Cup 2022 in Qatar, have stimulated the demand for construction equipment.


The continent's rental market provides a cost-effective solution for contractors and developers who prefer to rent equipment rather than invest in purchasing it. Several factors contribute to the growth of the construction equipment rental market in Africa. Firstly, the lack of financial resources and limited access to capital in many African countries make renting equipment a viable option. Additionally, the flexibility offered by rental services allows businesses to scale their operations as per project requirements. The market is witnessing the emergence of both local and international rental companies, providing a wide range of equipment such as excavators, loaders, bulldozers, cranes, dumpers, and concrete pumps.


Construction Equipment Rental Market Key Players & Competitive Insights


The competitive landscape of the Construction Equipment Rental market report is characterized by the presence of both global and regional players. The Construction Equipment Rental market has witnessed consolidation through mergers and acquisitions, with larger companies acquiring smaller players to strengthen their market position and expand their capabilities. This trend has led to the formation of major players with diversified offerings and extensive geographic reach. In the Construction Equipment Rental market, Construction Equipment Rental companies are increasingly adopting advanced technologies to improve project efficiency, safety, and environmental sustainability.


The major Construction Equipment Rental companies in the Construction Equipment Rental market report include United Rentals, Inc, Herc Rentals Inc., Ashtead Group Plc, Aktio Corporation, Kanamoto Co., Ltd., Nishio Rent All Co., Ltd, H&E Equipment Services, Inc, Nikken Corporation, Cramo Group, Ramirent Plc, among others. Companies with a broad geographic presence have an advantage in accessing diverse markets and opportunities. They can leverage their global or regional footprint to expand their market share and diversify their project portfolio. Local and regional Construction Equipment Rental companies have a competitive advantage in their respective markets due to their understanding of local regulations, cultural nuances, and specific project requirements.


Key Companies in the Construction Equipment Rental Market include



  • United Rentals, Inc

  • Herc Rentals Inc.

  • Ashtead Group Plc

  • Aktio Corporation

  • Kanamoto Co., Ltd.

  • Nishio Rent All Co., Ltd

  • H&E Equipment Services, Inc

  • Nikken Corporation

  • Cramo Group

  • Ramirent Plc


Construction Equipment Rental Market Industry Developments


In June 2023, United Rentals, Inc. acquired BlueLine Rental, Inc. for $2.9 billion. This acquisition is expected to strengthen United Rentals' position as the leading construction equipment rental company in the United States.

In July 2023, Caterpillar Inc. announced the launch of its new Cat Rental Pulse telematics platform. Cat Rental Pulse allows rental companies to track the location and utilization of their equipment, improve fleet management, and reduce costs.

In August 2023, Komatsu Ltd. announced the development of a new autonomous excavator. This excavator is expected to be available for rental in 2024

Construction Equipment Rental Market Segmentation


Construction Equipment Rental Market Type Outlook



  • Earthmoving

    • Excavators

    • Loaders

    • Backhoe

    • Motor Graders

    • Others (Bulldozer, Trenchers etc.)



  • Material Handling

    • Cranes

    • Telecscopic Handlers

    • Others (Forklift,Pallet Jacks, etc)



  • Heavy Vehicles

    • Dumpers

    • Tippers



  • Concrete & Road Construction

    • Concrete Pumpsr

    • Crushers

    • Batching Plant

    • Pavers

    • Others (Road rollers, Cold Planers, etc)




Construction Equipment Rental Market Application Outlook



  • Residential

  • Infrastructure

  • Oil and Gas

  • Mining

  • Manufacturing

  • Municipal and Government Projects

  • Transportation and Logistics

  • Agriculture

  • Forestry

  • Entertainment Sector

  • Commercial Space


Construction Equipment Rental Market Regional Outlook



  • North America

    • US

    • Canada

    • Mexico



  • South America

    • Brazil

    • Argentina

    • Chile

    • Peru

    • Rest of South America



  • Europe

    • UK

    • Germany

    • France

    • Spain

    • Italy

    • Rest of Europe



  • China

    • Middle East

    • Saudi Arabia

    • UAE

    • Qatar

    • Kuwait

    • Bahrain

    • Oman

    • Rest of Middle East



  • Africa

    • South Africa

    • Nigeria

    • Ghana

    • Morocco

    • Libya

    • Rest of Africa



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