The global construction equipment rental market was valued at $34.24 billion in 2014 and is anticipated to reach $84.60 billion by 2022, according to Grand View Research.

Increasing construction activities across the globe and rising government investment in emerging economies are projected to drive market demand in the coming years. In addition, the abundance of modern and productive equipment in rental fleets along with ongoing infrastructure development is expected to fuel demand.

Rented construction equipment has several benefits such as ease of replacement, cost effective approach, less technical charges, lower maintenance cost, reduced transportation and less servicing requirement. These factors will continuously drive demand in the coming years as well.

The material handling rental machinery segment is anticipated to grow at a CAGR of 13.0% from 2015 to 2022 on account of increasing focus on automated production facility. Increasing requirement of automated production processes for optimal use of raw material, energy and resource consumption are expected to result in the higher adoption of the product over the forecast period.

Earthmoving rental machinery market was valued at $19.27 billion in 2014 and is projected to witness significant gains at a CAGR of 12.3% by 2022. Growing demand for heavy equipment from emerging economies is anticipated to drive growth shortly.

The emergence of advanced machinery with eco-friendly and low maintenance features is expected to outcast conventional equipment in the coming years. The high purchasing power of consumer, with changing preference for rental equipment, has also resulted in the high adoption of rental products.