Industrial Equipment Rental & Leasing in the US
The Industrial Equipment Rental and Leasing industry offers a range of products, including industrial machinery, some construction equipment, entertainment products and medical devices, for fixed-term use. Renting expensive equipment allows client companies to free up spending for other purposes, such as expanding operations or hiring employees. This trend has sped up in the wake of the recession after demand dampened and many companies found themselves making payments on purchased equipment they no longer needed. In the coming years, construction activity is anticipated to grow in earnest. This expansion, along with improving manufacturing activity due to increased wages in primary offshoring destinations such as China, will drive the industry's growth, as will continued demand for the healthcare sector.
Operators in this industry primarily rent or lease trucks, utility trailers and semitrailers without drivers. Purchasing and lease-to-own arrangements of these vehicles are excluded from this industry. Operators that rent or lease industrial trucks and equipment, including forklifts, are covered in the Heavy Equipment Rental Industry (IBISWorld report 53241).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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