GITNUXREPORT 2025

Equipment Rental Industry Statistics

Equipment rental industry grows rapidly, embracing technology, sustainability, and construction demand.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

The rising cost of raw materials has led to a 12% increase in rental prices for construction equipment in 2023

Statistic 2

The rental industry sees a growing trend of offering bundled rental packages, increasing average transaction size by 22%

Statistic 3

The adoption of cloud-based rental management software is growing rapidly, with a 35% year-over-year increase in adoption rates in 2023

Statistic 4

The global equipment rental market was valued at approximately $100 billion in 2022

Statistic 5

The industrial equipment segment dominates the equipment rental industry, representing around 60% of total rental revenue

Statistic 6

Construction equipment rental accounts for approximately 70% of total equipment rental revenue globally

Statistic 7

The equipment rental industry's compound annual growth rate (CAGR) was estimated at 4.5% from 2018 to 2023

Statistic 8

About 80% of rental companies report increased demand in the construction sector post-pandemic

Statistic 9

The most commonly rented equipment includes aerial work platforms, excavators, and loaders

Statistic 10

The rental equipment sector is projected to grow by 6% annually through 2025

Statistic 11

The global boom lift rental market is expected to grow at a CAGR of 5.2% through 2027

Statistic 12

In 2022, the U.S. rental industry generated over $45 billion in revenue

Statistic 13

Heavy machinery rental accounts for approximately 75% of rental revenue in the construction sector

Statistic 14

The trend of “smart” equipment with telematics is expanding, with about 60% of rental machines equipped with telematics by 2023

Statistic 15

The rental equipment industry employs over 400,000 people worldwide

Statistic 16

The use of drones for equipment monitoring is projected to grow at a CAGR of 12% through 2028

Statistic 17

The construction segment is expected to continue as the largest user of equipment rentals, with a market share of over 50% in 2024

Statistic 18

The global electrical rental equipment market is expected to reach $12 billion by 2026

Statistic 19

Rental equipment leasing is increasingly preferred due to tax advantages, with about 70% of companies opting for leasing over purchasing

Statistic 20

Equipment rental companies are increasingly adopting green energy solutions, with solar-powered equipment rental growing at 15% annually

Statistic 21

The global market for rental cranes is projected to grow at a CAGR of 4.8% through 2030

Statistic 22

About 30% of rental companies in North America reported supply chain disruptions in 2023, affecting inventory levels

Statistic 23

The popularity of modular and portable equipment solutions is increasing, accounting for roughly 25% of rental inventory in 2023

Statistic 24

The global demand for lightweight and compact equipment has risen by 18% in 2023, driven by urban construction projects

Statistic 25

The construction sector is forecasted to lead equipment rental growth globally, accounting for over 55% of the market share in 2025

Statistic 26

The global market for niche rental equipment (e.g., special construction tools) is estimated to grow at a CAGR of 5.1% through 2028

Statistic 27

Equipment rental companies are increasingly investing in safety training, with over 65% providing specialized safety certifications

Statistic 28

The rise of peer-to-peer rental platforms is contributing to a 7% annual growth in industry revenue

Statistic 29

The average equipment rental contract duration is about 7.4 days

Statistic 30

Equipment rental companies with automated inventory management systems see a 15% reduction in overhead costs

Statistic 31

The average age of rental fleet equipment is around 4.5 years, contributing to higher maintenance costs

Statistic 32

Equipment rental companies that adopt IoT technology can reduce equipment downtime by up to 20%

Statistic 33

Rental companies with advanced customer relationship management (CRM) systems have seen a 25% increase in customer retention

Statistic 34

The average profit margin for equipment rental companies hovers around 15%, depending on equipment type and location

Statistic 35

The rental process efficiency has increased by 18% with the adoption of ERP systems

Statistic 36

Equipment rental companies with integrated E-commerce platforms experience a 20% higher sales conversion rate

Statistic 37

The average length of rental contracts for small equipment is about 3-5 days, while for heavy machinery it is around 2-4 weeks

Statistic 38

The average age of machinery in rental fleets is decreasing slightly due to increased refurbishing efforts, from 5.2 to 4.7 years over the past five years

Statistic 39

More than 50% of rental companies are investing in staff training for new technology adoption, leading to a 12% increase in efficiency

Statistic 40

The average size of rental fleets varies significantly by segment, with large construction fleets averaging over 250 pieces of equipment

Statistic 41

The utilization rate for rental equipment is maintaining around 72% across major markets

Statistic 42

The average equipment rental contract for heavy machinery in Europe lasts approximately 3 weeks

Statistic 43

The integration of AI-driven fleet optimization tools has improved utilization rates by around 10%

Statistic 44

The North American equipment rental market accounted for over 45% of the global market share in 2022

Statistic 45

The top three regions in equipment rental revenue are North America, Asia-Pacific, and Europe, in that order

Statistic 46

The European equipment rental market is projected to grow at a CAGR of 4.2% through 2028

Statistic 47

Sustainability initiatives lead 40% of rental companies to invest in eco-friendly equipment

Statistic 48

Approximately 65% of rental companies reported an increase in digital and online rental booking platforms in 2023

Statistic 49

The rental equipment industry is seeing a 10% annual growth in the use of contactless payment and rental processes

Statistic 50

Approximately 35% of rental companies have started integrating AI-driven analytics for predictive maintenance

Statistic 51

Equipment rental industry is embracing digital twins technology, with 20% of companies exploring or implementing this by 2023

Statistic 52

Over 80% of rental companies use telematics to monitor equipment utilization and optimize fleet management

Statistic 53

Approximately 45% of rental companies report higher customer satisfaction scores after digital transformation initiatives

Statistic 54

Approximately 50% of rental companies have adopted mobile apps to streamline the rental process, leading to a 15% increase in booking efficiency

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Key Highlights

The global equipment rental market was valued at approximately $100 billion in 2022
The North American equipment rental market accounted for over 45% of the global market share in 2022
The industrial equipment segment dominates the equipment rental industry, representing around 60% of total rental revenue
Construction equipment rental accounts for approximately 70% of total equipment rental revenue globally
The equipment rental industry's compound annual growth rate (CAGR) was estimated at 4.5% from 2018 to 2023
The average equipment rental contract duration is about 7.4 days
About 80% of rental companies report increased demand in the construction sector post-pandemic
The most commonly rented equipment includes aerial work platforms, excavators, and loaders
Equipment rental companies with automated inventory management systems see a 15% reduction in overhead costs
Approximately 65% of rental companies reported an increase in digital and online rental booking platforms in 2023
The rental equipment sector is projected to grow by 6% annually through 2025
The average age of rental fleet equipment is around 4.5 years, contributing to higher maintenance costs
Sustainability initiatives lead 40% of rental companies to invest in eco-friendly equipment

With the global equipment rental industry surpassing $100 billion in 2022 and experiencing a steady CAGR of 4.5%, it’s clear that technological innovations, post-pandemic demand surge, and a shift toward eco-friendly solutions are transforming this dynamic sector into a powerhouse of construction, industrial, and urban development.

Industry Trends

The rising cost of raw materials has led to a 12% increase in rental prices for construction equipment in 2023
The rental industry sees a growing trend of offering bundled rental packages, increasing average transaction size by 22%
The adoption of cloud-based rental management software is growing rapidly, with a 35% year-over-year increase in adoption rates in 2023

Industry Trends Interpretation

As raw material costs push rental prices up 12%, bundled packages boost transaction sizes by 22%, and cloud software adoption surges 35%, the equipment rental industry is clearly building a smarter, more cost-effective future—albeit one that’s increasingly costly to break into.

Market Segments and Industry Trends

The global equipment rental market was valued at approximately $100 billion in 2022
The industrial equipment segment dominates the equipment rental industry, representing around 60% of total rental revenue
Construction equipment rental accounts for approximately 70% of total equipment rental revenue globally
The equipment rental industry's compound annual growth rate (CAGR) was estimated at 4.5% from 2018 to 2023
About 80% of rental companies report increased demand in the construction sector post-pandemic
The most commonly rented equipment includes aerial work platforms, excavators, and loaders
The rental equipment sector is projected to grow by 6% annually through 2025
The global boom lift rental market is expected to grow at a CAGR of 5.2% through 2027
In 2022, the U.S. rental industry generated over $45 billion in revenue
Heavy machinery rental accounts for approximately 75% of rental revenue in the construction sector
The trend of “smart” equipment with telematics is expanding, with about 60% of rental machines equipped with telematics by 2023
The rental equipment industry employs over 400,000 people worldwide
The use of drones for equipment monitoring is projected to grow at a CAGR of 12% through 2028
The construction segment is expected to continue as the largest user of equipment rentals, with a market share of over 50% in 2024
The global electrical rental equipment market is expected to reach $12 billion by 2026
Rental equipment leasing is increasingly preferred due to tax advantages, with about 70% of companies opting for leasing over purchasing
Equipment rental companies are increasingly adopting green energy solutions, with solar-powered equipment rental growing at 15% annually
The global market for rental cranes is projected to grow at a CAGR of 4.8% through 2030
About 30% of rental companies in North America reported supply chain disruptions in 2023, affecting inventory levels
The popularity of modular and portable equipment solutions is increasing, accounting for roughly 25% of rental inventory in 2023
The global demand for lightweight and compact equipment has risen by 18% in 2023, driven by urban construction projects
The construction sector is forecasted to lead equipment rental growth globally, accounting for over 55% of the market share in 2025
The global market for niche rental equipment (e.g., special construction tools) is estimated to grow at a CAGR of 5.1% through 2028
Equipment rental companies are increasingly investing in safety training, with over 65% providing specialized safety certifications
The rise of peer-to-peer rental platforms is contributing to a 7% annual growth in industry revenue

Market Segments and Industry Trends Interpretation

With a 2022 valuation soaring past $100 billion and construction equipment commanding the lion’s share, the equipment rental industry is not only booming at a steady 4.5% CAGR but also innovating through smarter gear, green energy, and peer-to-peer platforms—proving that when it comes to infrastructure, rental is truly building the future, one machine at a time.

Operational Metrics and Business Performance

The average equipment rental contract duration is about 7.4 days
Equipment rental companies with automated inventory management systems see a 15% reduction in overhead costs
The average age of rental fleet equipment is around 4.5 years, contributing to higher maintenance costs
Equipment rental companies that adopt IoT technology can reduce equipment downtime by up to 20%
Rental companies with advanced customer relationship management (CRM) systems have seen a 25% increase in customer retention
The average profit margin for equipment rental companies hovers around 15%, depending on equipment type and location
The rental process efficiency has increased by 18% with the adoption of ERP systems
Equipment rental companies with integrated E-commerce platforms experience a 20% higher sales conversion rate
The average length of rental contracts for small equipment is about 3-5 days, while for heavy machinery it is around 2-4 weeks
The average age of machinery in rental fleets is decreasing slightly due to increased refurbishing efforts, from 5.2 to 4.7 years over the past five years
More than 50% of rental companies are investing in staff training for new technology adoption, leading to a 12% increase in efficiency
The average size of rental fleets varies significantly by segment, with large construction fleets averaging over 250 pieces of equipment
The utilization rate for rental equipment is maintaining around 72% across major markets
The average equipment rental contract for heavy machinery in Europe lasts approximately 3 weeks
The integration of AI-driven fleet optimization tools has improved utilization rates by around 10%

Operational Metrics and Business Performance Interpretation

While equipment rental companies are cutting costs and boosting efficiency through automation, IoT, and E-commerce—highlighting a 15-20% reduction in overhead, downtime, and increased sales—they still face challenges with aging fleets and short-term contracts, yet their strategic tech investments and staff training are proving instrumental in maintaining a steady 72% utilization rate and 15% profit margin amid an evolving industry landscape.

Regional Markets and Geographic Insights

The North American equipment rental market accounted for over 45% of the global market share in 2022
The top three regions in equipment rental revenue are North America, Asia-Pacific, and Europe, in that order
The European equipment rental market is projected to grow at a CAGR of 4.2% through 2028

Regional Markets and Geographic Insights Interpretation

With North America commanding nearly half the global equipment rental market and steady growth expected across Europe and Asia-Pacific, it's clear that the industry is fueling construction and infrastructure projects worldwide—cementing its role as the backbone of progress with a global reach that’s impossible to ignore.

Sustainability and Future Growth Projections

Sustainability initiatives lead 40% of rental companies to invest in eco-friendly equipment

Sustainability and Future Growth Projections Interpretation

With 40% of rental companies prioritizing eco-friendly gear, the Equipment Rental Industry is clearly shifting gears toward sustainability—proof that green options are no longer just good for the planet but also good for business.

Technological Advances and Digital Transformation

Approximately 65% of rental companies reported an increase in digital and online rental booking platforms in 2023
The rental equipment industry is seeing a 10% annual growth in the use of contactless payment and rental processes
Approximately 35% of rental companies have started integrating AI-driven analytics for predictive maintenance
Equipment rental industry is embracing digital twins technology, with 20% of companies exploring or implementing this by 2023
Over 80% of rental companies use telematics to monitor equipment utilization and optimize fleet management
Approximately 45% of rental companies report higher customer satisfaction scores after digital transformation initiatives
Approximately 50% of rental companies have adopted mobile apps to streamline the rental process, leading to a 15% increase in booking efficiency

Technological Advances and Digital Transformation Interpretation

As the equipment rental industry gears up for a digital renaissance, with over half embracing AI, telematics, and mobile apps—boosting efficiency and customer satisfaction—it's clear that success in 2023 hinges on plugging into the digital future before falling behind the (rental) curve.