Excavator Rental Market Analysis, Advancements, Behaviour, Challenges, Opportunities and Forecast 2033
According to Fact.MR, a leading market research and competitive intelligence provider, the global excavator rental market is valued at US$ 6 billion in 2023 and is projected to grow at a CAGR of 4.7% from 2023 to 2033.
The increasing demand for excavator rental services is primarily driven by government-led infrastructure development initiatives worldwide. OEMs and contractors are increasingly opting for rental solutions, benefiting from a diverse range of excavator options tailored to specific project requirements. Additionally, the availability of flexible rental agreements allows businesses to optimize costs while ensuring access to the latest equipment as needed.
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Due to the high cost of excavators, companies increasingly prefer leasing over purchasing to reduce capital expenditures. As a result, the excavator rental market is expected to gain significant traction, particularly in developing regions, where cost-effective solutions are in high demand.
Key Takeaways from Market Study
- The global excavator rental market is expected to grow at a CAGR of 4.7%, reaching US$ 9.6 billion by 2033.
- From 2018 to 2022, the market expanded at a CAGR of 4.9%.
- Tracked excavators lead the mobility segment, holding a 69.1% market share in 2023.
- The United States dominated the market in 2023, accounting for 27.7% of the total share.
- By country, the excavator rental market in the U.S. and China is projected to grow at CAGRs of 4.9% and 5.0%, respectively.
“Increase in Construction Projects Due to Rise in Urbanization Is Supporting the Expansion of the Market,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- United Rentals
- Sunbelt Rentals
- The Home Depot Rental
- Herc Rentals
- BigRentz
- BlueLine Rental
- Compact Power Equipment Rental
- Rental One
Market Development
Pricing plays a critical role in maintaining competitiveness within the excavator rental market. Rental service providers carefully determine rates based on equipment value, market demand, and rental duration to stay competitive. To attract and retain customers, they offer pricing incentives, including discounted rates for long-term rentals and promotional offers, ensuring cost-effective solutions for various project needs.
Country-wise Perspectives
What Role Does the U.S. Play in the Growing Excavator Rental Market?
The United States is a key driver of the expanding excavator rental market, fueled by large-scale infrastructure projects such as roads, bridges, commercial buildings, and housing developments. Excavators are essential for tasks like excavation, foundation digging, and site preparation, increasing their demand across the country.
The U.S. government’s focus on infrastructure development has led to heightened construction activity, further boosting the need for excavator rentals. Additionally, rapid urbanization and rising construction in metropolitan areas have contributed to market expansion.
The presence of major rental providers such as United Rentals and HERC Rentals strengthens market growth by offering a wide selection of excavators and flexible rental options. The competitive landscape and easy accessibility of rental services enable construction firms to reduce capital investment while maintaining operational efficiency.
With these factors in play, the U.S. excavator rental market is set to grow at a CAGR of 4.9% from 2023 to 2033, reinforcing its position as a significant contributor to global market expansion.
Segmentation of Excavator Rental Industry Research Report
- By Type:
- Compact Excavator
- Crawler Excavator
- Dragline Excavator
- Long Reach Excavator
- Suction Excavator
- By Size:
- Mini or Compact (<6 Ton)
- Medium (6 – 10 Ton)
- Standard/Full-Size (10 – 50 Ton)
- Heavy Excavator(>50 ton)
- By Mobility:
- Crawler/Tracked
- Wheeled
- By Application:
- Construction
- Mining
- Forestry & Agriculture
- Landscape and Maintenance
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global excavator rental, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type (compact excavator, crawler excavator, dragline excavator, long reach excavator, suction excavator), size (mini or compact (<6 ton), medium (6 – 10 ton), standard/full-size (10 – 50 ton), heavy excavator (>50 ton)), mobility (crawler/tracked, wheeled), application (construction, mining, forestry & agriculture, landscape and maintenance, others) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).
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