The global construction equipment rental market was valued at $90,997.4 million in 2019, and is expected to reach $106,422.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027. Construction equipment rental is the service to rent out construction equipment to end users for a certain period of time by signing contracts with terms and conditions about their usage. Construction equipment are used in various activities at construction and mining sites. These sites require several equipment to carry out heavy operations, which are specifically offered by rental service providers.
Upsurge in construction and mining activities in developing nations of Africa and Latin America regions is the key factor that peoples the growth of the global construction equipment rental market. In addition, high initial investment required to buy the equipment and the financial limitations to invest such huge amount can be avoided by using the rental equipment services. Moreover, the expenses incurred by maintenance of equipment, excessive operational cost, and high wages of skilled operators who operate the machines can be cut done by renting these equipment for required period of time.
However, saturation of construction and mining industry in developed nations and lack of skilled labor are the major restraints of the global market.
Conversely, IoT and smart devices installed on the machines help to carry out precise operations and overcome the problems such as lack of skilled labor and provide enhanced safety to the operators.

The global construction equipment rental market is segmented on the basis of application, product, propulsion system, and region. By application, the market is divided into excavation & mining, material handling, earthmoving, and concrete. Depending on product, it is classified into backhoes & excavators, loaders, crawler dozers, cranes, forklift, and others. As per propulsion type, it is differentiated by electric and ICE. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By application, in 2019, the earthmoving segment dominated the construction equipment rental market, in terms of revenue; however, the excavation & mining segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of product, the loaders segment led the construction equipment rental market in 2019, in terms of revenue, while the others segment is anticipated to register the highest CAGR during the forecast period. Depending on propulsion system, the ICE segment registered the highest growth in 2019, in terms of revenue, however, the electric segment is anticipated exhibit highest CAGR during the forecast period. Region wise, North America contributed for the largest market share in 2019, while Asia-Pacific is anticipated to secure a leading position during the forecast period.
Competition analysis
The major players profiled in the construction equipment rental market include Boels Rentals, H&E Equipment Services, Herc Rentals Inc., Kanamoto Co., Ltd., Nesco Holdings, Inc., Maxim Crane Works, L.P., Mtandt Group, Ramirent, Sarens n.v./s.a., and United Rentals, Inc.
These construction equipment rental companies have adopted strategies such as business expansion, acquisitions, and product launch to strengthen their foothold in the market and gain a competitive edge.

KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging construction equipment rental market trends and dynamics.
- In-depth construction equipment rental market analysis is conducted by estimations for the key segments between 2020 and 2027.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
- The market forecast analysis from 2020 to 2027 is included in the report.
- Key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the construction equipment rental market industry.
KEY MARKET SEGMENTS
By Application
o Excavation & Mining
o Material Handling
o Earthmoving
o Concrete

By Product
o Backhoes & Excavators
o Loaders
o Crawler Dozers
o Cranes
o Forklift
o Other

By Propulsion System
o Electric
o ICE

By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Germany
? France
? UK
? Italy
? Rest of Europe
o Asia-Pacific
? China
? India
? Japan
? South Korea
? Rest of Asia-Pacific
o LAMEA
? Latin America
? Middle East
? Africa
Key Players
? Boels Rentals
? H&E Equipment Services
? Herc Rentals Inc.
? Kanamoto Co., Ltd.
? Nesco Holdings, Inc.
? Maxim Crane Works, L.P.
? Mtandt Group
? Ramirent
? Sarens n.v./s.a.
? United Rentals, Inc.