GITNUX MARKETDATA REPORT 2024

Construction Equipment Rental Industry Statistics

The construction equipment rental industry is experiencing steady growth globally due to increasing demand for cost-effective and flexible rental solutions among construction companies.

In the following post, we will explore key statistics and insights into the global construction equipment rental industry. From the market size projections to regional dominance and growth trends, we dive into the data that shapes this dynamic sector.

Statistic 1

"The global construction equipment rental market size was valued at USD 92.9 billion in 2019."

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Statistic 2

"The global construction equipment rental market is expected to reach USD 136.5 billion by 2027."

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Statistic 3

"Earth moving machinery accounted for the highest revenue of over 40% in the construction equipment rental market in 2019."

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Statistic 4

"The material handling machinery segment is expected to expand at the fastest CAGR of 5.7% from 2020 to 2027 in the global rental market."

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Statistic 5

"North America dominated the global equipment rental market in 2019 with more than 45% share of the total revenue."

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Statistic 6

"The total value of the US rental equipment market to be around $41.1 billion in 2019."

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Statistic 7

"By 2024, the equipment rental industry in the United States is expected to generate 59.4 billion U.S. dollars in revenue."

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Statistic 8

"US construction equipment rental market size by 2024 will be around USD 23 billion."

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Statistic 9

"Heavy construction equipment rental services accounted for around 55% share in the U.S. in 2015."

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Statistic 10

"Asia Pacific construction rental market size was over USD 20 billion in 2015."

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Statistic 11

"The UK construction equipment rental market size by product expects 3% growth by 2024."

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Statistic 12

"Europe construction equipment rental market size was valued at over USD 34 billion in 2015."

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Statistic 13

"Excavators held the highest rental market share of around 35% in Asia Pacific in 2015."

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Statistic 14

"Concrete and road construction equipment constituted around 20% of market share in 2015."

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Statistic 15

"The construction equipment rental market in South America is expected to grow at a CAGR of 5.35% during the period 2021-2026."

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Statistic 16

"India's construction equipment rental market size is about $4-to-$5 billion and is on a growth trajectory of around 18%-20% annually."

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Statistic 17

"By 2026, the Middle East and Africa construction equipment rental market is projected to reach a market size of $5.18 billion."

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Statistic 18

"More than 50% of contractors expect to increase their reliance on rental equipment in the next few years."

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In conclusion, the global construction equipment rental industry is experiencing significant growth, with key regions like North America, Asia Pacific, and Europe driving market expansion. Earth moving machinery and heavy construction equipment rental services continue to dominate the market, while segments like material handling machinery show promising growth potential. The United States remains a prominent player in the market, with a robust outlook for revenue generation in the coming years. Overall, the industry is poised for continued growth and evolution, as indicated by the projected market sizes and revenue forecasts across various regions and product segments.

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