Press Release

Asia Pacific Region to Dominate the Construction Equipment Rental Market By 2028

Rapid improvement in technology and cost of construction equipment drives the growth of the global construction equipment rental market in the forecast period, 2023-2028.

According to TechSci Research report,
Construction Equipment Rental Market- Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028, the global construction equipment rental market is growing as a result of significant developments in the smart residential and commercial building sectors, as well as government rules that benefit the manufacturing industry. In the Asia-Pacific region, South America, and the Middle East, where significant investments are being undertaken, heavy construction equipment is in great demand. This increases the demand for rental services.

The worldwide construction business is expected to grow significantly in the following years due to better potential in the infrastructure, residential, and nonresidential sectors. The second-largest network of roads worldwide is in India. In the upcoming years, the government plans to expand the roadways in response to the rising number of vehicles and traffic. Furthermore, the Narmada Valley Development Project in India will be constructed on the Narmada River in Central India. Additionally, projects such as the Delhi-Mumbai Industrial Corridor, the National Highways Development Project, and others strengthen the market demand for construction equipment rental. The need for construction equipment is growing as a result of projects like the chip production facility in Shanghai and the 4500 MW LNG thermal power station in Vietnam. Additionally, projects such as the USD 98 billion High-Speed Rail project in California, the USD 76 billion Dubailand project, and the USD 5 billion Grand Ethiopian Renaissance Dam in Ethiopia boost demand for the construction equipment. The demand for the rental market for construction equipment is anticipated to increase in the upcoming years due to all the development activities taking place throughout the world and the trend towards rental services.

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Due to the rising costs of new construction machinery, construction companies and contractors are becoming more interested in renting construction equipment rather than buying it. Furthermore,
large down payments and a sizable investment from the business' operational expenses are required for the purchase of new construction equipment. After-purchase overhead expenses for construction equipment include loans, interest, insurance, permits, warehousing, and taxes. As a result, many businesses prefer rental services to reduce direct overhead costs as well as equipment delivery costs to job sites. Moreover, the time and labor costs related to maintenance and repairs are lower and easier to manage with rentals.

Based on equipment type
earth moving machinery has more market shares and it is anticipated to lead the market in coming years. Based on region Asia Pacific region is leading the market due to many developing counties are investing in major projects which is followed by North America and Europe. In Middle east and Africa region, rental companies have expanded their fleet size for heavy lifting, as well as small and medium lifting operations which further increases demand in upcoming years.

The global construction equipment rental market can be segmented by equipment type by product type, by application, by drive type, region and competitive landscape. Based on equipment type, the market is segmented into earth moving machinery, material handling machinery, general equipment. On the basis of product type, the market is segmented into excavator, cranes, backhoe, trucks, Others. On the basis of application, the market is divided into residential, road transport, energy infrastructure, mining, others. Based on drive type, the market is segmented into IC engine, hybrid drive. On the basis of region, the market is divided into Asia-Pacific, Europe & CIS, North America, South America, Middle East & Africa.

Some of the major companies operating in the Global Construction Equipment Rental Market include:

  • United Rentals Inc.
  • Caterpillar Inc.
  • Kanamoto Co. Ltd.
  • Liebherr International AG
  • Byrne Equipment Rental
  • Hitachi Group
  • H&E Equipment Services
  • Loxam Group
  • Sumitomo Corporation
  • Herc Rentals Inc.

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The maximum number development projects are in Asia-Pacific, which propelled the sales of construction equipment in the region leading the global construction equipment rental market. Also, increasing cost of construction equipment is expected to drive the construction equipment rental market in the upcoming years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Construction Equipment Rental Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Equipment Type (Earth Moving Machinery, Material Handling Machinery, General Equipment), By Product Type (Excavator, Cranes, Backhoe, Trucks, Others), By Application Type (Residential, Road Transport, Energy Infrastructure, Mining, Others), By Drive Type (IC Engine, Hybrid Drive), By Region”
has evaluated the future growth potential of Global Construction Equipment Rental Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global construction equipment rental market.


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