According to WiseGuy Reports, the Construction, Mining, and Forestry Machinery Rental and Leasing Market Size was valued at USD 85.3 billion in 2024 and reached USD 87.7 billion in 2025, with the market projected to grow to USD 115 billion by 2035 at a CAGR of 2.8% during the forecast period. Market expansion is being supported by increasing infrastructure investment, rising construction activity, technological improvements in equipment, growing demand for modern machinery, and the expansion of rental services in emerging markets. Major companies profiled in the market include Cramo, H&E Equipment Services, JLG Industries, RSC Equipment Rental, Testa R.B.O. s.r.l., Terex Corporation, Ashtead Group, Speedy Hire, United Rentals, Rental Solutions, Sunbelt Rentals, Caterpillar Inc., Ahern Rentals, KHL Group, Barnhart Crane and Rigging, and Loxam.

Market Overview

The machinery rental and leasing industry provides construction, mining, forestry, and other heavy-equipment users with flexible access to specialized machinery without requiring full ownership. This business model is becoming increasingly relevant as companies seek to manage capital expenditure, respond to fluctuating project demand, and access modern equipment with advanced capabilities.

The market covers construction, mining, forestry, earthmoving, and material handling applications. Equipment categories include excavators, bulldozers, cranes, forklifts, and backhoe loaders. Ownership models are divided into leasing and rental, while customers span public and private sector organizations.

The growing complexity of infrastructure and industrial projects is encouraging businesses to evaluate equipment access as part of broader cost and productivity strategies. Rental providers can offer a flexible alternative for companies that need machinery for specific projects or temporary capacity increases.

Market Size Reached in 2025

The market reached USD 87.7 billion in 2025, compared with USD 85.3 billion in 2024. The increase reflects continued activity across construction, infrastructure development, mining, forestry, and material handling operations.

Infrastructure spending remains a significant source of demand. Governments and private investors are developing roads, bridges, transportation networks, utilities, and public facilities, creating requirements for heavy machinery throughout project lifecycles.

Construction companies are also increasingly using rental equipment to manage variable workloads. Rather than maintaining large fleets throughout the year, businesses can obtain machinery when project requirements increase and return equipment when it is no longer needed.

Expected Market Size by 2035

The market is projected to reach USD 115 billion by 2035. This expansion is expected to be supported by infrastructure development, equipment modernization, technology integration, and increasing acceptance of rental and leasing models.

Emerging economies are likely to create new opportunities as construction and industrial activities expand. Companies operating in these regions may prefer rental services because they provide access to modern equipment without requiring substantial upfront capital.

The modernization of existing fleets is another potential growth area. Equipment rental providers are increasingly investing in newer machinery that can offer better fuel efficiency, improved productivity, enhanced safety, and lower environmental impact.

Market CAGR

The market is forecast to grow at a CAGR of 2.8% from 2026 to 2035. This moderate expansion reflects the essential role of machinery rental and leasing in supporting project-based industries.

Demand can vary according to economic conditions and construction cycles, but the flexible nature of rental services can help businesses adjust their equipment capacity. This flexibility is particularly valuable for contractors managing multiple projects with different machinery requirements.

Key Growth Drivers

Infrastructure investment is one of the primary factors supporting market growth. Large-scale public and private projects require machinery for excavation, lifting, material movement, and construction, creating sustained demand for rental services.

The increasing cost of equipment ownership is another driver. Purchasing and maintaining heavy machinery can require significant financial resources, while rental and leasing models allow businesses to access equipment with lower initial capital commitments.

Technology integration is also influencing the market. Modern equipment increasingly includes telematics, digital monitoring, automated functions, and improved safety systems. Rental providers that maintain technologically advanced fleets can attract customers seeking access to modern capabilities.

Environmental regulations are encouraging equipment modernization as well. Customers may increasingly prefer newer machinery with better fuel efficiency and lower emissions, supporting demand for updated rental fleets.

Emerging Market Trends

The integration of digital technology is transforming equipment rental operations. Online booking systems, fleet tracking, telematics, and automated maintenance scheduling can improve customer service and asset utilization.

Demand for eco-friendly machinery is another emerging trend. Rental companies are increasingly exploring electric and low-emission equipment as customers face stricter environmental requirements and sustainability targets.

The expansion of flexible rental models is also gaining importance. Short-term rentals, long-term leasing, and customized contracts allow customers to select equipment access based on project duration and financial requirements.

Emerging markets are becoming increasingly attractive for rental companies. Infrastructure expansion and industrial development can create demand from businesses that require equipment but may not have the financial capacity or operational need to maintain large owned fleets.

Competitive Landscape

The competitive landscape includes global equipment rental companies, machinery manufacturers, specialized rental providers, and industry information organizations. Cramo, H&E Equipment Services, JLG Industries, RSC Equipment Rental, Testa R.B.O. s.r.l., Terex Corporation, Ashtead Group, Speedy Hire, United Rentals, Rental Solutions, Sunbelt Rentals, Caterpillar Inc., Ahern Rentals, KHL Group, Barnhart Crane and Rigging, and Loxam are among the companies profiled.

Competition is influenced by fleet size, geographic coverage, equipment availability, technology integration, pricing, and customer support. Companies with broad networks can provide customers with faster access to equipment across multiple project locations.

The industry is expected to remain competitive as providers expand their fleets and invest in digital platforms, sustainable equipment, and advanced asset management. Rental companies that combine equipment availability with flexible contracts and strong service capabilities may be well positioned to benefit from market opportunities through 2035.