Martin Placek
Research expert covering transportation and electronics
Equipment rental market worldwide - statistics & facts
The initial investments related to the acquisition of new machines discourage firms to put a burden on their operating expenditures. Equipment renting offers more flexibility and alleviates these additional costs. Until 2019, the equipment rental market has experienced consistent growth in line with the growing construction industry. In 2020, the North American and European markets experienced a significant decline in revenue recording a decrease of 9.1 and 6.6 percent, respectively. The sharp decline in revenue comes as a result of reduced operations due to global lockdown regulations caused by the coronavirus pandemic.
The United States was the largest equipment rental market in 2020, valued at 48.5 billion U.S. dollars. In Europe, the United Kingdom led the way, with their equipment rental market valued at 6.5 billion euros.
What types of equipment can be rented and what are the leading markets?
Construction equipment is the largest segment in the global equipment rental market. This segment is expected to experience significant growth with a forecasted market value of about 140 billion U.S. dollars by 2027. Construction equipment renting ranges from earthmoving and road building equipment to material handling equipment and concrete equipment.The United States was the largest equipment rental market in 2020, valued at 48.5 billion U.S. dollars. In Europe, the United Kingdom led the way, with their equipment rental market valued at 6.5 billion euros.
What are the leading equipment rental companies?
Connecticut-based United Rentals was ranked as the largest equipment rental company globally, with rental revenue of more than 6.5 billion euros in 2020. United Rentals was also the leading equipment rental carrier in this period, with a fleet size of over 2,000 equipment units. Second to United Rentals, the UK-based Ashtead group reported a total revenue over five billion euros through its Sunbelt Rentals brand.
