The 5 biggest companies in the construction equipment rental industry supply tools, equipment, machinery and vehicles of all sizes for rent to construction contractors and industrial users, as well as DIY customers. With an ever-increasing population, demand for the construction of new buildings and homes never ceases, so the equipment rental industry is one that should remain resilient for years and decades to come.
Indeed, the overall equipment rental market will only continue to grow, as is evident from the optimistic forecasts being made by industry experts. The North American rental industry is expected to remain solid, with IHS Markit forecasting CAGR of 4% from 2017 through 2021. The new five-year forecast for the equipment rental industry’s revenues, released by the American Rental Association, also confirms steady gains. U.S. equipment rental revenue is estimated to reach about $49 billion in 2017 and $56 billion by 2020. It is estimated that the North American equipment rental industry’s revenue grew by 4% year-over-year in 2016.
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There are a number of benefits to renting construction equipment instead of buying it. The rental industry is gaining momentum because of several inherent advantages that it has, like controlled expenses and inventory, better risk management, saving on storage and maintenance, reduced downtime, and capital conservation. The five companies on our list will continue to experience solid demand for their equipment rental services going forward, driven by increasing consumer spending. Strength in residential, commercial and industrial construction is further expected to fuel growth, with the residential segment expected to stay strong over the coming years.
Over the next few pages, we’ll rank the 5 biggest companies in the construction equipment rental industry. We have collated data from sources like International Rental News and Rental Equipment Register and have ranked the companies based on their full fleet value.