Engineering Equipment Rental Service Market size was valued at USD XX Billion in 2024 and is projected to reach USD YY Billion by 2033, exhibiting a CAGR of ZZ% from 2026 to 2033.
The Engineering Equipment Rental Service market has experienced significant growth, driven by the increasing demand for construction and industrial machinery without the financial burden of ownership. In 2022, the global market was valued at approximately $141.42 billion, with a compound annual growth rate (CAGR) of 6.9% projected over the forecast period. North America led the market, accounting for 35% of the total revenue, followed by Asia Pacific at 30%, Europe at 25%, and Latin America and the Middle East & Africa each contributing 5%. The construction equipment segment dominated, holding 50% of the market share, with the construction site application leading at 60%. Asia Pacific emerged as the fastest growing region, propelled by rapid urbanization and substantial infrastructure projects in countries like China and India. The region is expected to grow at a CAGR of 10% during the forecast period. Opportunities in the market are abundant, particularly with the integration of advanced technologies such as telematics and IoT in rental equipment, enhancing operational efficiency and monitoring. Additionally, the growing emphasis on sustainability is driving demand for energy efficient and environmentally friendly equipment, aligning with global trends towards green construction practices.
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United Rentals
Ashtead Group
Aktio Corp
Kanamoto
Hertz Equipment Rental
Loxam Group
Blueline Rent
Ahern Rentals
Nishio Rent
Aggreko
Maxim Crane Works
SCMC
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Engineering Equipment Rental Service Market
Earthmoving Equipment
Material Handling Equipment
Concrete Equipment
Paving Equipment
Compaction Equipment
Hydraulic Equipment
Construction
Mining
Oil & Gas
Utilities
Infrastructure Development
Agriculture
Short-Term Rental (Less than 6 months)
Medium-Term Rental (6 months to 1 year)
Long-Term Rental (More than 1 year)
Owned Fleet (In-house equipment)
Third-Party Rentals
Leasing Companies
Fixed Rental Payment
Variable Rental Payment (Pay-per-use)
Subscription-based Payment
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Engineering Equipment Rental Service Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Engineering Equipment Rental Service Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Engineering Equipment Rental Service Market, By Type
6. Global Engineering Equipment Rental Service Market, By Application
7. Global Engineering Equipment Rental Service Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Engineering Equipment Rental Service Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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