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. The variety of products rented or leased mitigates the impact of fluctuations in demand in any one market. Over the five years to 2018, growth in industrial production, coupled with a buoyant healthcare market, pushed the industry to new heights. The industry's reliance on heavy industry and manufacturing, as well as its diverse product offerings, ties its performance to the health of the overall US economy. When businesses grow or expand, the need for new retail and industrial spaces stimulates demand from contractors that rent equipment for carpet installation, woodworking, door manufacturing, carpet cleaning and other activities. Manufacturers also rent industrial machinery to increase capacity when demand calls for it. Over the five years to 2023, operators are expected to benefit from accelerating nonresidential construction and consistent demand from the industrial and healthcare sectors. Medical devices will remain highly popular rentals since current models become obsolete quickly and must be replaced frequently, discouraging fixed purchases.
This industry includes establishments that primarily rent or lease nonconsumer machinery and equipment (except heavy construction, transportation, mining and forestry machinery and office equipment).
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.