Market Size of Machinery Rental And Leasing Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 129.43 Billion |
| Market Size (2029) | USD 166.54 Billion |
| CAGR (2024 - 2029) | 5.17 % |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Machinery Rental And Leasing Market Analysis
The Machinery Rental And Leasing Market size is estimated at USD 129.43 billion in 2024, and is expected to reach USD 166.54 billion by 2029, growing at a CAGR of 5.17% during the forecast period (2024-2029).
The market is primarily driven by several key factors. The escalating focus on infrastructure development globally, coupled with the increasing integration of automation within construction and manufacturing processes, significantly propels market growth. In regions like the Asia-Pacific, government-led road development initiatives contribute substantially to the expansion of the road construction machinery rental sector.
Moreover, there's a growing demand for environmentally friendly machinery due to regulatory pressures for reduced emissions, prompting manufacturers to explore electric and hybrid alternatives over traditional equipment. This shift towards greener solutions presents opportunities for innovation and development within the market.
Additionally, the movement towards equipment rental or leasing is gaining momentum, propelled by factors like initial cost reductions and more efficient maintenance procedures. Rental companies providing machinery along with professional operators and drivers further enhance operational efficiency for clients, presenting opportunities for service expansion and improved customer satisfaction.
Furthermore, as the construction industry embraces digitalization, connectivity, and automation, rental companies are poised to invest in advanced technologies to upgrade their fleets. This investment not only meets the growing demand for modern construction.
Machinery Rental And Leasing Industry Segmentation
The machinery rental and leasing market covers the latest equipment rental and leasing demand trends, technological development, government policies, manufacturer developments, etc. The report covers a complete background analysis of the market. it includes an assessment of the market overview, market size estimation for key segments, emerging trends in the market, market dynamics, and key company profiles.
Machinery rental and leasing markets are segmented by type, mode, and region. By type, the market is sub-segmented into mining, oil and gas, forestry machinery and equipment rentals, commercial air, rail, and water transportation equipment rentals, heavy construction machinery rentals, office machinery and equipment rentals, and other commercial and industrial machinery and equipment rentals. By mode, the market is sub-segmented into offline and online. By region, the market is sub-segmented into North America, Europe, Asia-pacific, South America, the Middle East, and Africa. The report offers market size and forecasts for the machinery rental and leasing market in value (USD) for all the above segments.
| By Type | |
| Mining | |
| Oil and Gas | |
| Forestry Machinery and Equipment Rental | |
| Commercial Air | |
| Rail | |
| Water Transportation Equipment Rental | |
| Heavy Construction Machinery Rental | |
| Office Machinery and Equipment Rental | |
| Other Commercial and Industrial Machinery and Equipment Rental |
| By Mode | |
| Online | |
| Offline |
| By Region | ||||||||
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Machinery Rental And Leasing Market Size Summary
The machinery rental and leasing market is experiencing significant growth, driven by the increasing focus on infrastructure development and the integration of automation in construction and manufacturing processes. The demand for environmentally friendly machinery is also rising due to regulatory pressures, encouraging manufacturers to explore electric and hybrid alternatives. This shift towards greener solutions offers opportunities for innovation within the market. The trend of equipment rental and leasing is gaining momentum, offering cost reductions and efficient maintenance. Rental companies that provide machinery along with professional operators enhance operational efficiency, presenting opportunities for service expansion and improved customer satisfaction. As the construction industry embraces digitalization and advanced technologies, rental companies are investing in upgrading their fleets to meet the growing demand for modern construction equipment.
The heavy equipment rental market is categorized by equipment types, end users, and applications, with earthmoving equipment dominating in terms of revenue. The construction segment leads the market, but other segments are expected to exhibit high growth. Large construction projects worldwide are driving the crane and construction machinery rental market, with Europe witnessing significant growth due to various projects. The Asia-Pacific region is a major market, experiencing a boom in infrastructure development driven by government initiatives. International players are investing in regional distribution centers and manufacturing facilities to meet the growing demand. The market is highly competitive, with numerous international and regional players, including major companies like General Electric Company, United Rentals Inc., and Ashtead Group plc. Recent acquisitions and strategic investments, such as I Squared Capital's acquisition of Rentco, highlight the dynamic nature of the market, aiming to expand geographic coverage and enhance service offerings.
Machinery Rental And Leasing Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Surge in Awareness About the Benefits of Leasing
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1.2.2 Shift in Trends Towards Rental
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1.3 Market Restraints
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1.3.1 Labor Shortage may obstruct the market growth
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1.3.2 The economic downturn in the equipment leasing sector will impede market expansion
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1.4 Market Opportunities
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1.4.1 Low Rental Penetration in Emerging Nations
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1.4.2 Rise in the adoption of management software, and innovations in mobility technologies act as an opportunity for the market investments.
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1.5 Insights on impact of technology in the Market
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1.6 Industry Value Chain Analysis
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1.7 Industry Attractiveness - Porters's Five Forces Analysis
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1.7.1 Bargaining Power of Buyers/Consumers
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1.7.2 Bargaining Power of Suppliers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Mining
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2.1.2 Oil and Gas
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2.1.3 Forestry Machinery and Equipment Rental
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2.1.4 Commercial Air
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2.1.5 Rail
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2.1.6 Water Transportation Equipment Rental
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2.1.7 Heavy Construction Machinery Rental
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2.1.8 Office Machinery and Equipment Rental
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2.1.9 Other Commercial and Industrial Machinery and Equipment Rental
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2.2 By Mode
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2.2.1 Online
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2.2.2 Offline
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2.3 By Region
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.5 Middle East
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle East
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Machinery Rental And Leasing Market Size FAQs
How big is the Machinery Rental And Leasing Market?
The Machinery Rental And Leasing Market size is expected to reach USD 129.43 billion in 2024 and grow at a CAGR of 5.17% to reach USD 166.54 billion by 2029.
What is the current Machinery Rental And Leasing Market size?
In 2024, the Machinery Rental And Leasing Market size is expected to reach USD 129.43 billion.
