Market Size of Europe Construction Machinery Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 33.60 Billion |
| Market Size (2029) | USD 43.19 Billion |
| CAGR (2024 - 2029) | 5.15 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Construction Machinery Rental Market Analysis
The Europe Construction Machinery Rental Market size is estimated at USD 33.60 billion in 2024, and is expected to reach USD 43.19 billion by 2029, growing at a CAGR of 5.15% during the forecast period (2024-2029).
Over the forecast period, the European construction industry is expected to be supported by a shift in construction businesses toward renting equipment to lower operational costs. The ongoing recovery in the industry is also expected to drive the studied market positively in the coming years.
Over the long term, the market demand is expected to be fueled by the constant need for new infrastructure, increased business in the construction and real estate sectors, and the rapid construction of substantial road infrastructure and smart cities in Europe. The expansion of the industry is also aided by government and construction company initiatives aimed at infrastructural development.
The expansion of the European construction market can be attributed to rising demand for housing in urban areas, increased infrastructural development activities, and increased modernization and renovation of buildings to improve their energy efficiency. With the region's robust economic growth, commercial infrastructure construction, such as offices, schools, hotels, restaurants, and leisure facilities, is rising.
Additionally, various favorable initiatives and investments by governments to improve housing infrastructure and provide housing for the vulnerable section are supporting the growth of the European construction machinery rental market. In September 2023, the German government announced its plans to suspend proposed building regulations as part of a EUR 45 billion (USD 47 billion) relief package to support the struggling construction industry, which is facing high interest rates and rising costs. Berlin plans to allocate EUR 18 billion until 2027 for affordable housing, with additional funding from federal states and municipalities.
Europe Construction Machinery Rental Industry Segmentation
Construction machinery rental services allow users to utilize the machinery for a short or long period in exchange for paying a higher daily cost or monthly cost. It is an agreement between the user and the machinery rental company.
The European construction machinery rental market is segmented by machinery type (cranes, telescopic handlers, excavators, loaders, motor graders, road construction equipment, and other machinery types), drive type (hydraulic and hybrid), application (building construction, road construction, and other applications), and geography (Germany, United Kingdom, France, Spain, Italy, and Rest of Europe). The report offers market size and forecasts in value (USD) for all the above segments.
| Machinery Type | |
| Cranes | |
| Telescopic Handlers | |
| Excavators | |
| Loaders | |
| Motor Graders | |
| Road Construction Equipment | |
| Other Machinery Types |
| Drive Type | |
| Hydraulic | |
| Hybrid |
| By Application | |
| Building Construction | |
| Road Construction | |
| Other Applications |
| By Country | |
| Germany | |
| United Kingdom | |
| Italy | |
| Spain | |
| France | |
| Rest of Europe |
Europe Construction Machinery Rental Market Size Summary
The European construction machinery rental market is poised for significant growth over the forecast period, driven by a combination of factors including the recovery of the construction industry post-COVID-19, increased demand for infrastructure, and the shift towards renting equipment to reduce operational costs. The market is supported by ongoing urbanization, modernization of buildings, and government initiatives aimed at enhancing housing infrastructure and energy efficiency. The rise in commercial infrastructure projects, such as offices, schools, and leisure facilities, further contributes to the market's expansion. Technological advancements and digitalization in construction equipment are expected to play a crucial role in driving market growth, with a focus on electrification and innovative solutions to meet regulatory demands and reduce emissions.
Germany stands out as a key player in the European construction machinery rental market, with a robust demand for advanced equipment driven by increased construction activities and government investments in infrastructure projects. The country's urbanization and population growth are further fueling the need for rental construction machinery. Despite the challenges posed by the COVID-19 pandemic, the German construction industry has shown resilience, with a gradual pickup in construction activities. The market is characterized by the presence of major players such as Caterpillar, Komatsu, and Volvo Group, who are actively expanding their services and product offerings across the region. Strategic acquisitions and partnerships, along with the introduction of new technologies, are expected to bolster the market's growth trajectory in the coming years.
Europe Construction Machinery Rental Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in USD Million)
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2.1 Machinery Type
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2.1.1 Cranes
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2.1.2 Telescopic Handlers
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2.1.3 Excavators
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2.1.4 Loaders
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2.1.5 Motor Graders
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2.1.6 Road Construction Equipment
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2.1.7 Other Machinery Types
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2.2 Drive Type
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2.2.1 Hydraulic
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2.2.2 Hybrid
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2.3 By Application
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2.3.1 Building Construction
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2.3.2 Road Construction
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2.3.3 Other Applications
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2.4 By Country
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2.4.1 Germany
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2.4.2 United Kingdom
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2.4.3 Italy
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2.4.4 Spain
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2.4.5 France
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2.4.6 Rest of Europe
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Europe Construction Machinery Rental Market Size FAQs
How big is the Europe Construction Machinery Rental Market?
The Europe Construction Machinery Rental Market size is expected to reach USD 33.60 billion in 2024 and grow at a CAGR of 5.15% to reach USD 43.19 billion by 2029.
What is the current Europe Construction Machinery Rental Market size?
In 2024, the Europe Construction Machinery Rental Market size is expected to reach USD 33.60 billion.
