Construction Equipment Rental Market Size

Construction Equipment Rental Market size was over USD 202.73 billion in 2024 and is poised to reach USD 438.09 billion by the end of 2037, growing at around 6.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of construction equipment rental is assessed at USD 212.79 billion.

The growth of the market can be attributed to the recovery of the construction industry in many parts of the world after a period of stagnation during COVID-19.  For instance, construction activities in Latin America have been predicted to show an average growth of about 4% from 2020-2023. Further, the South and South-East Asian regions have been projected to show remarkable growth in the construction industry by the end of 2023.

Another factor that is expected to lead to market growth is the increasing rental penetration in some parts of the world. For instance, the share of the construction equipment in India which was rented constituted only about 48% in 2010. In 2020, this proportion of machines had risen to 68%. However, the rental business penetration was still very locally-focused in 2020. It is estimated that more than 44,999 units of the machine were sold in the rental business in India in 2021. Similarly, the regions with low or marginal rental penetration compared to others indicate opportunities for further growth of the market.