Construction Equipment Rental Market growing at a CAGR of 6.1% from 2026 to 2033

The global construction equipment rental market size was valued at USD 213.68 billion in 2025 and is projected to reach USD 339.04 billion by 2033, growing at a CAGR of 6.1% from 2026 to 2033. The increase in government investment in public infrastructure projects has boosted mining and construction activities in developing nations, increasing the market need for construction equipment.

Request Free Sample Report: https://www.grandviewresearch.com/industry-analysis/construction-equipment-rental-market/request/rs1

Renting construction equipment is becoming more appealing to construction companies and contractors as new construction machinery prices are rising. In addition, the advent of cutting-edge technologies and a rise in automation will fuel market expansion. The use of telematics systems in the construction equipment rental industry is experiencing a remarkable surge as more companies recognize their immense benefits. These advanced systems empower rental companies to remotely monitor crucial aspects such as equipment usage, location, and performance. This transformative capability enables a significant improvement in fleet management and the implementation of proactive maintenance practices. One of the key drivers behind this adoption is the integration of IoT devices and sensors into construction equipment rental units. These cutting-edge technologies deliver real-time data on vital parameters, including fuel consumption, equipment health, and operator safety.

Through this, rental companies can make data-driven decisions to enhance operational efficiency while minimizing downtime. The rental companies have a significant opportunity to stand out by providing customized equipment configurations and attachments to fulfill specific project requirements. According to the first quarter forecast released by the American Rental Association (ARA) in March 2023, the U.S. rental equipment market is expected to grow at a rate of 5.3% in 2023 and 1.9% in 2024. At this juncture, customized equipment strategies can allow large-sized companies to distinguish themselves and cater to the diverse needs of their clients.

By providing tailored equipment solutions, these rental companies can effectively tackle the unique challenges presented by various construction projects. Whether it is any intricate infrastructure development, a high-rise building construction, or a specialized industrial project, possessing the ability to supply equipment with customized configurations and attachments would be essential if these companies were to help their clients in enhancing operational efficiency and productivity by providing equipment specifically designed to meet their project demands.

Advances in online platforms and mobile applications have played a potent role in streamlining the rental experience while offering a myriad of benefits for both equipment owners and renters. Online platforms provide equipment owners with an efficient avenue to showcase their inventory to a wider audience. Owners can significantly increase their chances of securing rental agreements and generating additional revenue streams by listing their equipment portfolio on online marketplaces to make it visible to all participants, thereby typically enabling small-sized companies to highlight their unique offerings and build a reputation based on excellent service and equipment quality. This democratization of the rental market fosters healthy competition, benefiting customers with improved options and service levels.

Product Insights

The earthmoving machinery segment accounted for the largest share of 54.2% in 2025. Global demand for renting earth-moving machinery such as excavators has soared due to increased large-scale projects in the mining, road, port construction, and oil and gas industries. Another significant driving force for the earth-moving rental machinery market is the freedom manufacturers and operators have for using the machinery to its fullest potential without making substantial capital commitments. Equipment producers are creating environmentally friendly equipment due to strict emission control rules included in the rental machinery provider’s fleet.

The concrete & road construction segment is expected to grow at the fastest CAGR during the forecast period. The market growth can be driven by investments in highway and road infrastructure projects, increased cars on the road, and rising highway infrastructure demand. For instance, India’s Bharatmala project, which is being constructed across Indian states such as Maharashtra, Punjab, Gujarat, Haryana, Sikkim, and West Bengal, among other states, is expected to generate substantial demand for renting construction equipment machines on a large scale The demand for renting concrete &road construction equipment is anticipated to increase internationally due to a surge in the requirement to sustain existing civil infrastructures, particularly high-rise buildings.

Drive Type Insights

The ICE segment held the largest market share in 2025. The global availability of diesel and gasoline stations further reinforces the convenience of ICE-powered machinery in the construction industry. Construction companies often operate across multiple regions and countries, where varying levels of infrastructure development and electric vehicle adoption exist. This disparity in infrastructure readiness can present obstacles for the widespread adoption of electric construction equipment. In contrast, with the prevalent presence of fuelling stations, contractors and rental companies can rely on a consistent supply of fuel for their ICE equipment, eliminating concerns about range limitations or the need for costly infrastructure upgrades.

The electric segment is expected to grow at the fastest CAGR during the forecast period. In recent years, the construction industry has witnessed a remarkable shift towards more environmentally friendly practices, owing to the implementation of stringent environmental regulations and the rise of sustainability initiatives. Governments around the world have recognized the urgent need to address climate change and have consequently set emission reduction targets and imposed stricter regulations on construction machinery emissions. For instance, in March 2023, the U.S. administration approved California’s request for legal authority to enforce a mandate stating that by 2035, at least half of all garbage trucks, cement mixers, tractor-trailers, and other equipment sold within the state must be powered by electricity. This ambitious initiative aims to tackle the most significant contributors to road pollution and promote cleaner transportation.

Construction Equipment Rental Market Report Scope

Report Attribute	Details
Market size value in 2026	USD 224.27 billion
Revenue forecast in 2033	USD 339.04 billion
Growth rate	CAGR of 6.1% from 2026 to 2033
Base year for estimation	2025
Historical data	2021 – 2025
Forecast period	2026 – 2033
Quantitative units	Revenue in USD million/billion and CAGR from 2026 to 2033
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Product, drive type, region
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; South Korea; Australia; Brazil; KSA; South Africa; UAE
Key companies profiled	Ahern Rentals Inc.; AKTIO Corporation; Caterpillar Inc.; Byrne Equipment Rental; Cramo Plc; Finning International Inc.; Liebherr-International AG; Kanamoto Co., Ltd.; Maxim Crane Works, L.P.; United Rentals, Inc.
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options