Construction Equipment Rental Services Market Expected to Reach $230.3 Billion by 2034

According to a new report published by Allied Market Research, titled, “Construction Equipment Rental Services Market,by Construction Equipment Types (Earthmoving Equipment, Material Handling Equipment, Concrete and Road Construction Equipment, Crane and Lifting Equipment, Drilling, Piling and Mining Equipment, Others), by End User (Residential, Commercial, Industrial), by Mode of Operation (Self-service, Dry lease, Wet lease)" The construction equipment rental services market size was valued at $97.9 billion in 2022, and is estimated to reach $230.3 billion by 2034, growing at a CAGR of 7.6% from 2025 to 2034.

The construction equipment rental services market is experiencing significant growth driven by increase in preference for renting over purchasing equipment, as it helps construction companies reduce upfront capital expenditure and maintenance costs. This shift is especially prominent among small and medium-sized enterprises that seek flexible access to advanced machinery without long-term ownership burdens. For instance, in March 2024, Sumitomo Corporation expanded its construction equipment rental services market in the U.S. by acquiring Trench Shore Rentals (TSR), a leading provider of trench safety equipment. This strategic acquisition aims to enhance Sumitomo's subsidiary, Sunstate Equipment Co., LLC, by integrating TSR's specialized services into its existing operations. The move aligns with Sumitomo's objective to capitalize on the growing demand for infrastructure projects and stringent safety standards in the U.S. industrial construction.

Furthermore, rise in adoption of digital platforms and technology in the rental process is improving booking efficiency, equipment tracking, and customer convenience is rise in demand for construction equipment rental services market. Online marketplaces and mobile apps are making it easier for customers to find, book, and manage equipment rentals efficiently. Integration of telematics and IoT in construction machinery is also gaining traction, enabling real-time monitoring of equipment usage, improving maintenance scheduling, and enhancing operational efficiency is increase the dmand for the construction equipment rental services industry. Sustainability concerns are influencing the construction equipment rental services industry as well, with rental providers increasingly offering eco-friendly, fuel-efficient, and electric equipment to comply with stricter environmental regulations and meet the demand for greener construction practices. For instance, in November 2022, United Mobility Technology AG (UMT), a German tech company, launched Smart Rental, a mobile app-based platform for construction equipment rentals. This service allows users to rent machinery such as excavators, vibratory plates, and loaders through a model similar to 'Car2Go.' It provides convenient, contactless rentals available 24/7, with heavy equipment located near job sites, improving flexibility and accessibility for construction professionals.

Moreover, urbanization and rapid infrastructure development in emerging economies are driving demand for rental services, as construction firms look for cost-effective ways to meet project deadlines. The construction equipment rental service market is also witnessing consolidation, with larger rental companies acquiring smaller players to expand their fleets, geographical reach, and service offerings. For instance, in March 2025, Sunstate Equipment Co. acquired AJ Rental Dallas, a well-established equipment rental provider in the Dallas-Fort Worth metroplex, aiming to strengthen its regional presence and expand its service capabilities to better serve the local construction equipment rental services market.

By mode of operation, the self-service segment attained the highest construction equipment rental services market share in 2022, as self-service rental offers greater flexibility and cost efficiency to customers, allowing them to select and use equipment as needed without additional operational support. It appeals especially to small and medium-sized construction companies that prefer managing their own workforce while minimizing rental costs. The growing adoption of digital platforms has made self-service rentals more accessible and convenient, further boosting its popularity. This mode aligns well with rise in demand for on-demand equipment and streamlined rental processes in the construction industry.

By Region

Region-wise, North America attained the highest market share in 2024 and emerged as the leading region in the construction equipment rental services market analysis. This dominance is driven by rapid infrastructure development, urbanization, and a strong construction industry. The region’s well-established rental service providers offer a wide range of advanced and specialized equipment, meeting diverse project needs. In addition, strict safety regulations and high cost of equipment ownership encourage companies to prefer rentals. Technological advancements and digital platforms in North America also make rental processes more efficient and accessible, further boosting the construction equipment rental services market growth and solidifying the region’s leading position in construction equipment rental service market by enabling real-time equipment tracking, automated inventory management, and seamless user experiences for both suppliers and renters

However, Asia-Pacific is projected to grow at the fastest rate during the forecast period in construction equipment rental services market. This rapid growth is fueled by increase in infrastructure development, urbanization, and industrialization across countries such as China, India, and Southeast Asia. The rising investments in roadways, commercial buildings, and housing projects drive the demand for rental equipment. Many construction companies in the region prefer renting equipment to reduce capital expenses and maintenance costs. Improving rental service networks and adoption of digital rental platforms also contribute to the region’s accelerated market expansion, making Asia-Pacific a key growth area in construction equipment rental services market forecast.

According to Amar Chinchane, Lead Analyst, Aerospace and defense at Allied Market Research, “The Construction Equipment Rental Services market dominates due to the high cost of purchasing heavy machinery, growing infrastructure projects, and the increasing preference for short-term equipment use. Contractors and companies find rentals more cost-effective, allowing access to advanced machinery without large capital investments, fueling demand across residential and commercial sectors.”

Key Takeaways

• On the basis of construction equipment types, the earth moving segment held the largest share in the construction equipment rental services market trends in 2022.
• By End User, the commercial segment was the major shareholder in 2022.
• By mode of operation, the dry lease segment dominated the market, in terms of share, in 2022.
• Region wise, North America region held the largest market share in 2022.

The key players operating in the global construction equipment rental services market include United Rentals, Inc., Boels Rental, EquipmentShare, LOXAM GROUP, Sunbelt Rentals, Inc., Herc Rentals Inc., H&E Rentals, Kiloutou, Modulaire Group, Sarens, Kanamoto Co., Ltd., AKTIO Corporation, Sin Heng Heavy Machinery Limited, Rent (Thailand) Co., Ltd., and Tat Hong Holdings Ltd. They have adopted strategies such as contracts, agreements, acquisition, and product launch to improve their construction equipment rental services market outlook.