Construction Equipment Rental Market Size, Share, Growth Analysis, By Product(Earthmoving machinery, material handling machinery, and concrete & road construction machinery), By Application(Real estate, transport, energy infrastructure, and others), By Region - Industry Forecast 2024-2031

In 2021, North America will control 44.8% of the global market. The region is expected to maintain its dominance during the forecast period. The availability of project-specific technologically advanced machinery at a low cost has fueled the rise of construction equipment companies in the region. The use of specialist equipment is highly recommended because it shortens operation times, eliminates idle time, and enhances overall mining or construction operations. The popularity of the main construction equipment rental companies with U.S. bases, like United Rentals, Ahern Rentals, Ashtead Group, and others, has increased the demand for better rental services and solutions.

During the forecast period, growth in the Asia-Pacific region is expected to climb at a rate of 6.3%. In order to enhance connectivity, facilitate commerce, and strengthen the general economy of the region, governments of developing nations in Asia are investing extensively in the construction of highways, airports, dams, and special economic zones (SEZs). Major producers of construction equipment have taken notice of these initiatives and are now willing to invest massively and establish a presence in the region. Worldwide producers of construction equipment, including as Caterpillar, Hitachi, Liebherr, and Sumitomo Corporation, offer their products and services in the region.