Saudi Arabia Forklift Rental Market – Size, Share, Trends, Opportunity, and Forecast, Segmented By Operating Weight (Below 5 Ton, 5-10 Ton, Above 10 Ton), By Propulsion Type (Diesel, Electric, Others), By Rental Period (Short Term, Medium Term, Long Term), By Region, By Competition, 2020-2030F

Market Overview:

The Saudi Arabia Forklift Rental Market was valued at USD 521.74 Million in 2024 and is expected to reach USD 846.98 Million by 2030 with a CAGR of 8.41% during the forecast period. The Saudi Arabia forklift rental market is experiencing notable momentum driven by increasing industrial activities, expansion in warehousing and logistics, and a shift toward asset-light business models. Businesses across manufacturing, retail, and e-commerce sectors are opting for rental services to reduce capital expenditure, improve operational flexibility, and ensure access to the latest forklift technology without the burden of ownership. The surge in infrastructure development and mega-project execution is also generating higher short- to medium-term demand for forklifts, particularly in sectors that require agile material handling. For instance, Saudi Arabia plans to invest $1 trillion in infrastructure development by 2030, reflecting the Kingdom’s strategic focus on economic diversification and modernization.

Market Drivers

Expansion of Warehousing and Logistics Infrastructure

The growing demand for efficient material handling in warehousing and logistics sectors is a major driver for the forklift rental market. As supply chains become more complex and consumer expectations for fast deliveries rise, businesses are investing heavily in larger and more advanced warehouse operations. This creates a consistent need for forklifts that can handle various loading and unloading tasks. Renting forklifts allows businesses to maintain flexibility in fleet size and specifications based on seasonal or project-specific demand. Rental services help mitigate capital expenditures while allowing access to high-performance models that suit different racking systems, storage capacities, and warehouse layouts. This flexibility is particularly valuable for third-party logistics providers and distribution centers that operate under tight margins and time constraints. For instance, Saudi Arabia’s aggressive infrastructure expansion—driven by the Global Supply Chain Resilience Initiative, King Abdullah and Jeddah Port upgrades, aviation investments targeting 4.5 million tons in air cargo capacity by 2030, and an 8,000 km railway network addition—aims to transform the country into a global logistics powerhouse. These developments are poised to strengthen import-export flows, expand warehousing demand, reduce transit times, and enhance overall trade efficiency by creating a resilient, integrated, and competitive supply chain ecosystem.

Cost Efficiency and Capital Expenditure Reduction

Renting forklifts allows companies to avoid the significant upfront costs associated with purchasing new equipment. In capital-intensive industries, this cost efficiency becomes a critical factor in decision-making. Forklift rental agreements provide predictable monthly expenses, freeing up capital that can be reinvested in core business activities such as inventory, infrastructure, or personnel. Businesses operating with tight budgets or fluctuating project timelines prefer rental models to maintain financial agility. Unlike ownership, rental models eliminate depreciation risks and reduce the need for long-term maintenance planning, which can be costly and time-consuming. For short-term or seasonal operations, renting ensures that companies pay only for the equipment they need, when they need it. Rental services often include maintenance, repairs, and replacement provisions, which lower operational risks and reduce downtime.

Rise in Construction and Infrastructure Projects

Large-scale construction and infrastructure projects often involve material transport, equipment handling, and site logistics, all of which rely heavily on forklifts. These projects usually have defined durations and specific equipment requirements that change over time, making forklift rentals a practical solution. Renting enables construction firms to select forklifts based on project phases, from initial material staging to finishing tasks. Since project timelines are variable and sometimes unpredictable, renting forklifts ensures that companies can scale their fleet without the burden of permanent ownership. Forklift rental also allows access to a variety of models, including rough-terrain and high-lift variants required for different site conditions. The rental model reduces overhead related to equipment transport, storage, and maintenance, which is especially beneficial for firms managing multiple sites. For instance, Saudi Arabia’s transformation under Vision 2030 is being powered by 24 mega projects, including NEOM’s futuristic developments such as The Line, Trojena, Oxagon, and Sindalah. These multibillion-dollar initiatives aim to diversify the economy beyond oil by driving tourism, innovation, logistics, and sustainable urban living. Notable projects like Norlana, Siranna, and Epicon along the Gulf of Aqaba focus on luxury and eco-tourism, while infrastructure giants like Oxagon target industrial and supply chain advancement. Trojena will position Saudi Arabia as a winter sports destination, and The Line reimagines urban life through a zero-carbon vertical city for 9 million residents.

Download Free Sample Report

Key Market Challenges

Shortage of Skilled Forklift Operators

Despite the availability of advanced forklifts, a significant challenge facing the rental market is the shortage of trained and certified operators. Operating forklifts requires not only technical knowledge but also adherence to safety standards, especially when handling sensitive or hazardous materials. Rental companies often provide the equipment without operators, leaving clients responsible for hiring or training their workforce. This becomes a bottleneck for operations, particularly in fast-paced industries like logistics or construction where delays can escalate costs. Companies may struggle to meet project deadlines or maintain productivity levels if qualified operators are unavailable. The lack of skilled labor can also lead to higher incidences of equipment misuse, increasing the risk of accidents, damage to goods, or downtime due to repairs. To address this issue, some rental providers are starting to offer operator training programs or integrated operator-rental packages.

High Maintenance and Operational Costs

While renting forklifts helps in avoiding large capital expenditures, operational costs tied to frequent maintenance, servicing, and fuel consumption can still pose financial challenges. Forklifts used in high-demand environments or rugged conditions often face wear and tear that demands regular attention. If maintenance is not covered comprehensively in the rental agreement, businesses may incur unexpected repair costs. In diesel or gas-powered forklifts, fluctuating fuel prices can further increase running costs, making it harder for companies to forecast budgets accurately. Another issue arises when rented equipment experiences technical breakdowns during peak operations. Even with support clauses in the contract, delays in service response or lack of replacement units can halt operations and result in lost productivity. Companies using forklifts across multiple locations may also struggle with logistical complications, including equipment relocation and ensuring consistent service quality across sites.

Key Market Trends

Increasing Demand for Electric and Eco-Friendly Forklifts

There is a noticeable shift in the forklift rental market toward electric and low-emission models, driven by a rising emphasis on sustainability and operational efficiency. Electric forklifts offer quieter operations, lower fuel costs, and reduced maintenance needs compared to internal combustion models. Their compact designs make them ideal for indoor warehouse use where air quality and noise control are crucial. As companies aim to reduce their environmental footprint, renting electric forklifts becomes a practical step in aligning with sustainability goals without large capital outlays. Rental firms are responding by expanding their fleet with lithium-ion and other battery-powered models, offering long runtime, faster charging, and smart energy management. Regulatory standards pushing for greener operations in material handling also make electric forklifts more appealing. Rental enables companies to test electric models before full-scale adoption, helping them evaluate performance, cost savings, and operational fit.

Integration of Telematics and IoT in Rental Fleets

Telematics and IoT technologies are being increasingly adopted in forklift rentals to provide real-time monitoring, usage tracking, and predictive maintenance. This integration is helping businesses optimize fleet performance and reduce operational risks. With telematics, managers can monitor operator behavior, machine uptime, fuel consumption, and route efficiency, allowing for informed decision-making. IoT sensors embedded in forklifts generate data that can detect early signs of mechanical issues, enabling proactive servicing and reducing the risk of breakdowns. Rental companies are leveraging these technologies to offer value-added services such as automated reporting, performance benchmarking, and maintenance alerts. This transparency improves trust between rental providers and clients, ensuring better equipment utilization and uptime. It also enables clients to manage multiple units across different sites more effectively.

Rise of On-Demand and Short-Term Rental Models

A growing trend in the forklift rental market is the adoption of on-demand and short-term rental solutions, catering to businesses with variable or project-based needs. Companies are increasingly seeking flexible rental durations that match the exact length of a project or seasonal activity. Traditional long-term contracts are being replaced with more agile agreements that allow for quick scaling of forklift fleets up or down. This model benefits sectors like event management, seasonal warehousing, and construction, where material handling needs fluctuate rapidly. The rise of digital rental platforms and mobile apps has made it easier for businesses to access forklifts on short notice, reducing lead times and improving response to unexpected demand. Rental providers are building inventory pools at strategic locations to enable fast delivery and pickup. The appeal of short-term rentals lies in the low commitment, lower risk, and cost control they offer, especially when dealing with uncertain or time-sensitive projects.

Segmental Insights

Operating Weight Insights

In 2024, the 5–10 Ton operating weight segment dominated the Saudi Arabia forklift rental market due to its versatility and suitability for a broad range of industrial and commercial applications. This weight class offers the ideal balance between capacity and maneuverability, making it a preferred choice for sectors such as warehousing, construction, manufacturing, and logistics. Forklifts in this category can efficiently handle palletized goods, machinery, and medium-weight construction materials without requiring excessive space or fuel consumption. Their adaptability to both indoor and outdoor operations further increases their utility across various environments. Rental demand for 5–10 Ton forklifts remains strong due to their ability to support high productivity while remaining cost-effective for short- and medium-term use.

Download Free Sample Report

Region Insights

In 2024, the Central region emerged as the dominant area in the Saudi Arabia forklift rental market. This dominance was driven by the concentration of major industrial zones, logistics hubs, and government infrastructure projects that require efficient material handling solutions. The Central region hosts numerous warehousing facilities, construction activities, and commercial centers that rely on forklifts for streamlined operations. Businesses operating in this region often prefer rental services to maintain cost flexibility, access modern equipment, and avoid long-term ownership burdens. The demand is consistent across construction, retail, and manufacturing segments, making forklift rentals a strategic necessity for operational efficiency. For instance, In January 2025, Saudi Arabia added 103 new factories with investments totaling around $240 million, creating 1,504 jobs. Another $319 million worth of industrial licenses were issued, expected to generate over 2,500 jobs. The manufacturing index grew 4% year-on-year, driven by gains in petroleum and chemical production. As part of Vision 2030, the Kingdom targets 36,000 factories by 2035, including 4,000 fully automated sites.

The Eastern region witnessed significant traction in forklift rental demand due to the presence of energy-related industries and port logistics. Heavy machinery movement in the oil, gas, and petrochemical sectors creates a strong requirement for short-term and high-capacity forklift solutions. The availability of specialized equipment and flexible rental terms supports dynamic industrial needs, especially in large-scale facilities where downtime is costly. This region benefits from well-established logistics networks that streamline the deployment of forklifts across project sites.

The Western region also recorded healthy growth in forklift rental activity, mainly driven by tourism-driven construction, transportation hubs, and growing commercial activity. As infrastructure expands and urban development accelerates, rental forklifts provide temporary yet efficient material handling solutions. Businesses leverage rentals to scale operations without committing to large capital expenditures. The flexibility and fast availability of rental units continue to attract clients in this evolving regional landscape

Recent Developments

• ​In 2024, Manitou launched the Me Lift series of lithium-ion forklifts for industrial and agricultural use, with 1.6–3 ton capacities and up to 6.5m lift height. The Me 425 Ld. Lift model cuts ownership costs by 56% vs. diesel.
• In 2023, Hyundai introduced diesel and lithium-ion forklifts built for heavy-load operations at demanding sites, focusing on reliability and advanced material handling.        
• In 2023 – Toyota unveiled three electric forklift models Side-Entry End Rider, Center Rider Stacker, and Industrial Tow Tractor designed for efficient, versatile jobsite performance.
• In 2025 – Gulf mega-projects like NEOM and Red Sea Project are fueling a sharp rise in construction equipment rental demand. In 2024, Saudi Arabia awarded around $148 billion in contracts. Rental firms face supply chain strain, with high demand for telehandlers, lifts, compressors, and forklifts. There's growing interest in electric and IoT-enabled machines. Companies are expanding fleets and adapting to local regulations and ESG needs.

Key Market Players

• Expertise Contracting Co Ltd
• Mohammed Abdullah Al Areedh Company
• Arab International Transport and Heavy Equipmenty Company Ltd.
• Fahad S. Al-Tamimi Group
• KITES Equipment Rental
• Dayim Equipment Rental
• Kanoo Machinery
• United Gulf Equipment and Machinery LLC
• Bluefin Heavy Equipment Rentals
• Bin Quraya Construction

Report Scope:

In this report, the Saudi Arabia Forklift Rental Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

•           Saudi Arabia Forklift Rental Market, By Operating Weight:

o    Below 5 Ton

o    5-10 Ton

o    Above 10 Ton

•           Saudi Arabia Forklift Rental Market, By Propulsion Type:

o    Diesel

o    Electric

o    Others

•           Saudi Arabia Forklift Rental Market, By Rental Period:

o    Short Term

o    Medium Term

o    Long Term

•           Saudi Arabia Forklift Rental Market, By Region:

o    Northern & Central

o    Western

o    Southern

o    Eastern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Saudi Arabia Forklift Rental Market.

Available Customizations:

Saudi Arabia Forklift Rental Market report with the given market data, Tech Sci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Saudi Arabia Forklift Rental Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]