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Construction Industry Likely to Support the US Equipment Rental Market

Date: 24th Nov 2021 | Category: Construction & Real Estate

The U.S. equipment rental market is expected to record a value of US$64.71 billion in 2025, growing at a CAGR of 5.47%, for the time period of 2021-2025. The factors such as rise in party & event planning, growth in oil & gas production, rising employment and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by tracking equipment utilization, processing equipment return and balancing portfolio and cash flow. A few notable trends may be include rising use of management software, continuous technological advancements and growth in government projects.

The U.S. equipment rental market is growing due to the expansion of the construction industry. There is a substantial growth in the number of rental service consumers as contractors and dealers are opting for rentals to reduce the size of their fleet and lower the complexity in organizations that may otherwise affect activities, namely, asset disposals, logistics, maintenance, and procurement. As there are growing number of infrastructure projects the adoption rate of rental services is rising, which is accelerating the growth of the equipment rental market in the U.S. 

In 2020, the market witnessed a decline due to the outbreak of the COVID-19 pandemic because of the imposed lockdown, which restricted industrial operations and halted major economic activities. However, with the upliftment of the restrictions, market conditions eased down and market growth got stabilized. The Home Depot, United Rentals, Ashtead Group (Sunbelt Rentals), Herc Holdings, H&E Equipment Services and BrandSafway are the major players dominating the US equipment rental market. 

Scope of the report:

  • The report provides a comprehensive analysis of the U.S. equipment rental market 
  • The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 
  • The competitive landscape of the market, along with the company profiles of leading players (The Home Depot, United Rentals, Ashtead Group (Sunbelt Rentals), Herc Holdings, H&E Equipment Services and BrandSafway) are also presented in detail.

Key Target Audience:

  • Equipment Rental Companies 
  • Tools and Equipment Manufacturers
  • Raw Material Suppliers
  • Potential Audience (Construction industry, Mining Industry, End-use Customers)
  • Investment Banks
  • Government Bodies & Regulating Authorities