U.S. contractors increasingly choose rentals over ownership, with 65% reporting a preference to rent. Fleet utilization averages 68%, while digitalization lifts bookings by 25% year over year. These shifts track the funding and scheduling changes shaping equipment demand and pricing pressure across the industry.
Key Takeaways
- 65% U.S. contractors prefer renting over buying.
- United Rentals 13% U.S. market share 2023.
- Global equipment rental market size reached $140.2 billion in 2023.
- U.S. equipment rental revenue in Northeast $12B 2023.
- United Rentals generated $14.3 billion revenue in 2023.
Equipment rental demand is rising steadily, making it a strong growth area for businesses and investors.
Related reading
01 · Category
Industry Trends22 stats
01
65% U.S. contractors prefer renting over buying.
02
Fleet utilization rates averaged 68% in 2023.
03
Electrification: 15% fleet electric by 2025 forecast.
04
Digitalization boosted bookings 25% YoY.
05
Sustainability drives 40% purchasing decisions.
06
Labor shortages increase rental demand 12%.
07
Telematics adoption 55% in large fleets 2023.
08
Short-term rentals up 18% post-pandemic.
09
M&A activity 50 deals in U.S. 2023.
10
Subscription models growing 30% annually.
11
AI predictive maintenance cuts downtime 20%.
12
Carbon-neutral fleets targeted by 35% firms.
13
E-commerce rentals 22% of transactions 2023.
14
Gig economy boosts tool rentals 15%.
15
3D printing equipment rentals up 40%.
16
Drone rentals for inspection 25% growth.
17
VR training adoption 18% in rentals.
18
Blockchain for contracts 10% pilot programs.
19
Resale value of used rentals 75% original.
20
Women in leadership 28% rise since 2020.
21
Global supply chain issues eased 80% in 2023.
22
IoT sensors in 45% equipment 2023.
Interpretation
Industry Trends Interpretation
Industry Trends are clear as 65% of U.S. contractors opt to rent, and with fleet utilization averaging 68% in 2023 plus digitalization lifting bookings 25% year over year, the rental market is rapidly scaling around efficiency and technology while sustainability and electrification are pushing purchasing decisions.
03 · Category
Market Size & Growth30 stats
01
Global equipment rental market size reached $140.2 billion in 2023.
02
U.S. equipment rental industry revenue hit $52.4 billion in 2022.
03
Construction equipment rental segment grew at 5.8% CAGR from 2018-2023.
04
European equipment rental market valued at €45 billion in 2023.
05
Asia-Pacific rental market expanded 7.2% YoY in 2023.
06
Global market projected to reach $210 billion by 2030 at 6.1% CAGR.
07
U.S. market share of rentals in construction at 45% in 2023.
08
Industrial equipment rental grew 4.5% in 2022 globally.
09
Canadian equipment rental market size $8.7 billion CAD in 2023.
10
Middle East rental market surged 9% post-2022.
11
Latin America equipment rental at $12.5 billion in 2023.
12
U.K. rental industry £7.2 billion in 2023.
13
Australian market valued at AUD 5.1 billion in 2023.
14
India equipment rental market $3.8 billion USD in 2023.
15
China rental penetration rate 25% in construction 2023.
16
Global aerial work platform rental market $12.4 billion 2023.
17
Earthmoving equipment rental $45.6 billion globally 2023.
18
Material handling rental segment $28.9 billion 2023.
19
Power generation equipment rental $18.2 billion 2023.
20
U.S. tool and equipment rental $10.1 billion 2023.
21
Global market CAGR forecasted 6.5% 2024-2028.
22
Party and event equipment rental $5.6 billion global 2023.
23
Mining equipment rental market $9.8 billion 2023.
24
Oil & gas equipment rental $15.3 billion 2023.
25
Agricultural equipment rental $7.2 billion global 2023.
26
Medical equipment rental market $12.1 billion 2023.
27
Sports equipment rental $4.5 billion 2023.
28
Global IT equipment rental $22.7 billion 2023.
29
Furniture rental market $18.9 billion 2023.
30
U.S. total equipment rental enterprises 22,500 in 2023.
Interpretation
Market Size & Growth Interpretation
The global equipment rental market is expanding strongly with a jump from $140.2 billion in 2023 to a projected $210 billion by 2030 at a 6.1% CAGR, while key regions such as Asia Pacific grew 7.2% year over year in 2023.
More related reading
04 · Category
Regional Insights26 stats
01
U.S. equipment rental revenue in Northeast $12B 2023.
02
California equipment rental market $6.5B 2023.
03
Texas rental industry $5.2B revenue 2023.
04
Florida construction rentals $3.8B 2023.
05
New York metro rental market $4.1B 2023.
06
Ontario Canada rentals CAD 2.5B 2023.
07
Quebec equipment rental CAD 1.8B 2023.
08
Germany rental market €12B 2023.
09
France €9.5B equipment rentals 2023.
10
U.K. London rentals £1.2B 2023.
11
Italy rental industry €6.8B 2023.
12
Spain €4.2B rentals 2023.
13
Australia NSW rentals AUD 1.5B 2023.
14
Queensland AUD 1.2B equipment rentals 2023.
15
India Maharashtra $1.1B rentals 2023.
16
China Guangdong province rentals CNY 50B 2023.
17
Brazil Sao Paulo rentals BRL 8B 2023.
18
Mexico City $2.5B equipment rentals 2023.
19
UAE Dubai rentals AED 15B 2023.
20
Saudi Arabia Riyadh $3B rentals 2023.
21
Japan Tokyo rentals JPY 800B 2023.
22
South Korea Seoul $1.8B rentals 2023.
23
South Africa Johannesburg R10B rentals 2023.
24
U.S. Southeast rentals 22% national share.
25
Europe Central region 35% continental rentals.
26
APAC growth leader India 12% regional CAGR.
Interpretation
Regional Insights Interpretation
For the Regional Insights view of the equipment rental industry, the market is clearly concentrated with the Northeast leading at $12B in 2023 while top individual states like California at $6.5B and Texas at $5.2B show the same strong regional scale.
05 · Category
Revenue Statistics30 stats
01
United Rentals generated $14.3 billion revenue in 2023.
02
Herc Rentals revenue $3.5 billion in 2023.
03
Ashtead Group (Sunbelt) £7.8 billion revenue FY2023.
04
H&E Equipment revenue $2.9 billion 2023.
05
Aggreko revenue £2.3 billion in 2023.
06
Loxam (France) €3.6 billion revenue 2023.
07
Boels Rental €1.2 billion revenue 2023.
08
Ramirent revenue €900 million 2023.
09
A-Plant (UK) £450 million revenue 2023.
10
Coates Group (Australia) AUD 1.8 billion 2023.
11
EMS (Canada) CAD 1.1 billion revenue 2023.
12
Nisbets (equipment rental arm) £500 million 2023.
13
Global Industrial revenue from rentals $1.2 billion 2023.
14
Sunstate Equipment $1.4 billion revenue 2023.
15
EquipmentShare revenue $2.1 billion 2023.
16
BigRentz revenue $800 million 2023.
17
Dozr revenue CAD 150 million 2023.
18
Rent1 revenue $300 million 2023.
19
BlueLine Rental $900 million revenue 2023.
20
Ahern Rentals $600 million 2023.
21
United Rentals fleet utilization 72% in 2023.
22
Herc EBITDA $1.1 billion 2023.
23
Ashtead underlying EBITDA £2.6 billion FY2023.
24
Average revenue per U.S. rental firm $2.3 million 2023.
25
U.S. rental industry EBITDA margin 25% in 2023.
26
Global rental revenue growth 8.2% YoY 2023.
27
Construction rental revenue share 55% of total industry.
28
U.S. top 10 firms 45% market revenue share 2023.
29
Europe rental revenue per capita €80 in 2023.
30
Asia rental revenue CAGR 9.1% 2020-2023.
Interpretation
Revenue Statistics Interpretation
In 2023 the revenue leaders show a wide but clear scale-up effect, with United Rentals at $14.3 billion and Herc Rentals at $3.5 billion anchoring the high end while other major firms like H&E at $2.9 billion and Loxam at €3.6 billion sit several billion lower, underscoring the uneven concentration within the Equipment Rental industry’s revenue statistics.
report visual · Key figures
Equipment rental adoption is being accelerated by digitalization and electrification
Key indicators show demand lift and technology uptake across fleet operations and customer behavior.
25%
Digitalization boosted bookings 25% YoY.
55%
Telematics adoption 55% in large fleets 2023.
15%
Electrification: 15% fleet electric by 2025 forecast.
20%
AI predictive maintenance cuts downtime 20%.
Reference
Cite This Report
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APA
Henrik Dahl. (2026, February 13). Equipment Rental Industry Statistics. Gitnux. https://gitnux.org/equipment-rental-industry-statistics
MLA
Henrik Dahl. "Equipment Rental Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/equipment-rental-industry-statistics.
Chicago
Henrik Dahl. 2026. "Equipment Rental Industry Statistics." Gitnux. https://gitnux.org/equipment-rental-industry-statistics.
Sources & references
86 datasets cited across this report