United States Excavator Rental Service Market was valued at USD 15.1 Billion in 2022 and is projected to reach USD 22.3 Billion by 2030, growing at a CAGR of 5.0% from 2024 to 2030.
The U.S. excavator rental service market is experiencing significant growth, driven by various economic and industrial factors. Recent reports indicate that the U.S. construction equipment rental market is projected to reach $54.1 billion by 2029, up from $39.2 billion in 2022, reflecting a compound annual growth rate (CAGR) of approximately 4.73%. citeturn0search2
This upward trend is largely attributed to substantial investments in infrastructure. The Bipartisan Infrastructure Law (BIL), enacted in 2021, aims to revitalize the nation's infrastructure by allocating funds for the reconstruction of roads, bridges, ports, and airports. For instance, the Federal Aviation Administration (FAA) announced a $3 billion investment to enhance 3,075 airports across the U.S., while the U.S. Army Corps of Engineers (USACE) allocated $3.9 billion to improve supply chains and strengthen ports and waterways. citeturn0search2
Rental companies play a pivotal role in the construction equipment market, accounting for a significant portion of equipment purchases. In 2023, rental companies were responsible for 33% of the 333,000 units sold in the earthmoving, material handling, and compact equipment categories in North America. Specifically, they purchased 28% of the 95,000 earthmoving equipment units sold, which includes excavators. citeturn0search0
Several factors contribute to the increasing preference for renting excavators over purchasing:
Cost-Effectiveness: Renting eliminates the need for substantial upfront investments and reduces maintenance and storage costs.
Flexibility: Contractors can select specific excavator models tailored to individual project requirements, ensuring optimal performance.
Access to Advanced Technology: Rental companies often provide the latest equipment models equipped with cutting-edge technology, enhancing operational efficiency.
The U.S. excavator rental market is dominated by key players such as United Rentals, Sunbelt Rentals, and Herc Rentals. United Rentals, for instance, is the largest equipment rental company globally, offering a vast fleet that includes various excavator models. citeturn0search26
The market's growth is also influenced by external economic factors. For example, the prolonged higher interest rate environment has impacted local construction markets, leading companies like Ashtead to adjust profit expectations. citeturn0news24 Additionally, aggressive bidding wars in the equipment rental industry, such as Herc Holdings outbidding United Rentals for H&E Equipment Services, highlight the sector's competitiveness and consolidation trends. citeturn0news25
In summary, the U.S. excavator rental service market is on an upward trajectory, bolstered by significant infrastructure investments and the inherent advantages of equipment rental. As the industry continues to evolve, both established and emerging rental companies are poised to meet the growing demand for excavators, ensuring that construction projects nationwide have access to the necessary machinery.
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Excavator Rental Services
Sarens NV
Mammoet
ALL Erection & Crane Rental Corp. .
Lampson International LLC
Action Construction Equipment Ltd.
ALE
Sanghvi Movers Limited
Giddings
XCMG
Zoomlion
Caterpillar
Lonking
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 US Excavator Rental Service Market
Construction
Mining
Agriculture
Demolition
Infrastructure
Mini Excavators
Standard Excavators
Large Excavators
Short-term Rentals (daily to weekly)
Long-term Rentals (monthly to yearly)
Contractors
Corporations
Government Entities
Homeowners
Basic Rental Services
Rental with Operators
Lease-to-Own Options
Maintenance and Support Services
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 US Excavator 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. US Excavator Rental Service Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Excavator Rental Service Market, By Type
6. US Excavator Rental Service Market, By Application
7. US Excavator Rental Service Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Excavator Rental Service Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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