Over the recent years, renting or leasing construction equipment has immensely become more popular due to its high cost and difficulty in maintaining it. Moreover, due to the high level of investment, construction companies prefer to hire equipment to reduce project costs. This is a low-cost strategy because it lowers maintenance costs and fewer technical fees. The construction equipment rental market is expanding as a result of increased demand for heavy machinery equipment and global economic growth. Furthermore, as the number of smart city initiatives grows, so will the market, even during the forecast period.
Frequently Asked Questions
The market is segmented based on Segmentation, By Equipment Type (Earthmoving, Material Handling, Road Building and Concrete), Drive Type (IC Engine, Hybrid Drive), Product Type (Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers, Others), Application (Residential, Commercial, Industrial) – Industry Trends and Forecast to 2032
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The Global Construction Equipment Rental Market size was valued at USD 112.38 USD Billion in 2024.
The Global Construction Equipment Rental Market is projected to grow at a CAGR of 4.6% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
