Industrial Equipment Rental & Leasing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: August 2024
NAICS 53249Revenue
$39.1bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
140k
Businesses
5,334
Wages
$X.Xbn
Industrial Equipment Rental & Leasing in the US industry analysis
Industrial equipment rental and leasing companies offer a range of products, including industrial machinery, certain construction equipment, entertainment products and medical devices, for fixed-term use. The variety of products rented or leased mitigates economic fluctuations from affecting demand from any one market. Expanding industrial production, coupled with increased construction activity, bolstered industry performance. However, the onset of COVID-19 and subsequently declining downstream demand had decelerated industry growth. Industrial equipment rental and leasing contractors have since recovered as customers have expressed renewed demand; despite this, revenue is expected to decrease at a CAGR of 1.5% to $38.1 billion through the end of 2023, and is set to decrease 1.5% in 2023 alone.
Trends and Insights
- The state of the economy influences contractors’ performance. With such a broad range of markets catered to, the strength of nonresidential building, industrial production and important markets such as hospitals, significantly impact performance.
- The general industrial equipment rental segments generates the most revenue, and includes different industrial products, tools and machinery that business owners rent.
- Rental properties are often spread out adjacent to densely populated areas. This is because high-density areas provide industry contracts with a larger pool of consumer and commercial demand.
- Price is one of the most significant bases of competition due to the fragmented character of the industrial equipment rental and leasing market.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 2.5 % over the past five years, to reach an estimated $39.1bn in 2024.
Trends and Insights
Economic conditions affect revenue
- Interest rates indirectly influence demand for industrial equipment. The types of equipment offered for rent by contractors typically require financing because they are expensive to purchase.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Construction, government and healthcare markets improve
- Interest rates will increase as the Federal Reserve tries to rein in soaring inflation. Expected interest rate increases in the future will somewhat slow down activity in downstream construction markets, slowing revenue growth.
Biggest companies in the Industrial Equipment Rental & Leasing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
United Rentals, Inc. | 4,769.0 | 775.1 | 16.3 | |
Sunbelt Rentals Exchange Inc. | 2,364.6 | 601.2 | 25.4 | |
Ashtead Group Plc | 1,232.0 | 186.0 | 15.1 |
To view the market share and analysis for all 41 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including General industrial equipment rental, Light construction equipment rental and Medical equipment rental . General industrial equipment rental is the largest segment of the Industrial Equipment Rental & Leasing in the US.
Trends and Insights
The industry broadly covers various industrial goods
- Agricultural and farm equipment, commercial trucks and vehicles, manufacturing and textile machinery and metalworking machinery are just a few examples of the different industrial products, equipment and machinery that businesses rent.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Tool & Equipment Rental in the US
- Heavy Equipment Rental in the US
Complementors
- Finance and Insurance in the US
International industries
- Industrial Equipment Rental & Leasing in Canada
- Machinery and Scaffolding Rental in Australia
- Heavy Machinery and Scaffolding Rental and Hiring in New Zealand
Table of Contents
About this industry
Industry definition
This industry includes enterprises that primarily rent or lease nonconsumer machinery and equipment (except heavy construction, transportation, mining and forestry machinery and office equipment).
What's included in this industry?
Renting or leasing agricultural machinery and equipmentRenting or leasing carpentry equipmentRenting or leasing carpet and rug-cleaning equipmentRenting or leasing furnitureRenting or leasing generatorsRenting or leasing industrial trucksRenting or leasing medical equipment (except home health furniture and equipment)Renting or leasing pallet and skidRenting or leasing telecommunications equipmentRenting or leasing theatrical and motion picture equipmentCompanies
United Rentals, Inc.Sunbelt Rentals Exchange Inc.Ashtead Group PlcPurchase this report to view all 41 major companies in this industry.
Related Terms
LEASERENTNONEMPLOYEROFFSHOREIndustry Code
NAICS 53249 - Industrial Equipment Rental & Leasing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The state of the economy influences contractors’ performance. With such a broad range of markets catered to, the strength of nonresidential building, industrial production an...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The general industrial equipment rental segments generates the most revenue, and includes different industrial products, tools and machinery that business owners rent.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Rental properties are often spread out adjacent to densely populated areas. This is because high-density areas provide industry contracts with a larger pool of consumer and c...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Price is one of the most significant bases of competition due to the fragmented character of the industrial equipment rental and leasing market.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Local enterprises with one rental facility are typical of the industry. These companies often cater to a select group of industrial and construction markets and have a solid ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of United Rentals, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Sunbelt Rentals Exchange Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Ashtead Group Plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 38 additional companies
Detailed analysis
- Description and key data for United Rentals, Inc., and factors influencing its performance in the industry
- Description and key data for Sunbelt Rentals Exchange Inc., and factors influencing its performance in the industry
- Description and key data for Ashtead Group Plc, and factors influencing its performance in the industry
- Description, key data and performance trends for 38 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Contractors are governed by various rules that address issues with worker health and safety and environmental protection. Industry contractors don’t encounter many regulation...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Many industries are served by industry contractors, including construction, manufacturing and entertainment. Cost structure benchmarks change depending on a contractor’s size...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Industrial Equipment Rental & Leasing in the US industry in United States in 2024?
The market size of the Industrial Equipment Rental & Leasing in the US industry in United States is $39.1bn in 2024.
How many businesses are there in the Industrial Equipment Rental & Leasing in the US industry in 2024?
There are 5,334 businesses in the Industrial Equipment Rental & Leasing in the US industry in United States, which has grown at a CAGR of 1.3 % between 2019 and 2024.
Has the Industrial Equipment Rental & Leasing in the US industry in United States grown or declined over the past 5 years?
The market size of the Industrial Equipment Rental & Leasing in the US industry in United States has been declining at a CAGR of 2.5 % between 2019 and 2024.
What is the forecast growth of the Industrial Equipment Rental & Leasing in the US industry in United States over the next 5 years?
Over the next five years, the Industrial Equipment Rental & Leasing in the US industry in United States is expected to grow.
What are the biggest companies in the Industrial Equipment Rental & Leasing in the US market in United States?
The biggest companies operating in the Industrial Equipment Rental & Leasing market in United States are United Rentals, Inc., Sunbelt Rentals Exchange Inc. and Ashtead Group Plc
What does the Industrial Equipment Rental & Leasing in the US in United States include?
Renting or leasing agricultural machinery and equipment and Renting or leasing carpentry equipment are part of the Industrial Equipment Rental & Leasing in the US industry.
Which companies have the highest market share in the Industrial Equipment Rental & Leasing in the US in United States?
The company holding the most market share in United States is United Rentals, Inc..
How competitive is the Industrial Equipment Rental & Leasing in the US industry in United States?
The level of competition is high and increasing in the Industrial Equipment Rental & Leasing in the US industry in United States.
