The global construction equipment rental market size was valued at USD 204.06 billion in 2024 and is projected to reach USD 280.13 billion by 2030, registering a steady compound annual growth rate (CAGR) of 5.6% from 2025 to 2030. This robust growth is primarily attributed to the increasing investments by governments in public infrastructure development across various developing countries. Such investments have significantly stimulated activities in the construction and mining sectors, thereby creating a rising demand for various types of construction equipment.

As the cost of purchasing new construction machinery continues to escalate, renting has emerged as a more financially viable and flexible option for construction companies and contractors. Renting construction equipment reduces the financial burden of ownership and maintenance, while offering access to the latest machinery without long-term commitments. This shift in preference is a major factor driving the market forward.

In parallel, rapid technological advancements and increased automation in equipment operations are further fueling market growth. One of the most transformative developments in the construction equipment rental sector is the adoption of telematics systems. These advanced systems allow rental companies to remotely monitor essential parameters such as equipment utilization, geolocation, and operational performance. This real-time monitoring improves fleet visibility, optimizes asset deployment, and enables proactive maintenance, thereby extending equipment lifespan and minimizing downtime.

A critical enabler of these capabilities is the integration of Internet of Things (IoT) devices and smart sensors within rental equipment. These technologies collect and transmit detailed data on equipment metrics such as fuel usage, engine health, temperature, and operator behavior. This data-driven approach not only enhances operational efficiency and safety but also helps reduce operational costs by enabling timely servicing and preventing breakdowns.

Key Market Trends & Insights:

  • Asia Pacific held 49.7% of the global market in 2024, driven by urbanization, infrastructure expansion, and high equipment ownership costs.
  • Earthmoving machinery led the market with a 54.7% share in 2024, while concrete and road construction machinery is expected to grow the fastest.
  • The ICE (Internal Combustion Engine) segment had the largest revenue share in 2024, while the electric segment is projected to register the highest growth rate.

Order a free sample PDF of the Construction Equipment Rental Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

  • 2024 Market Size: USD 204.06 Billion
  • 2030 Projected Market Size: USD 280.13 Billion
  • CAGR (2025-2030): 5.6%
  • Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights:

Major players include Caterpillar Inc., Deere & Company, Komatsu Ltd., Liebherr-International AG, and United Rentals, Inc.

  • Liebherr-International AG produces a wide range of machinery, including cranes, mining equipment, concrete technology, and automation systems.
  • United Rentals, Inc., headquartered in the U.S., operates over 1,400 branches across North America, Europe, and Asia Pacific, offering extensive rental services through 1,345 locations in North America and 11 in Europe.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

In conclusion, the global construction equipment rental market is set to grow steadily, driven by rising infrastructure investments, increasing equipment costs, and advancements in telematics and IoT technologies. With strong demand in Asia Pacific and expanding fleets from major players like United Rentals and Liebherr, the market is poised for significant expansion through 2030.