Tool & Equipment Rental in the US
The Tool and Equipment Rental industry falls under a larger umbrella of rental industries that have largely benefited from growing nonresidential construction markets. However, the industry contended with initial contraction early in the period before growing for the remainder. Due to the nature of the industry and general construction, many of the tools rented by operators are used in the later stages of construction, with specialized and heavy equipment being used earlier in the process. Therefore, as multifamily and nonresidential construction grew slowly, revenue continued its decline. Early in the five-year period, the industry remained constrained as residential clients and nonresidential clients alike were wary of spending. As a result, the do-it-yourself (DIY) segment continued its growth in popularity. Over the five years to 2023, the industry will continue benefiting from contractors resuming their prominence as the industry's largest consumer group. This trend will be aided by steady growth in the number of construction projects in both residential and nonresidential markets.
This industry comprises companies that primarily rent tools and small- to medium-size pieces of equipment, including contractors’ and builders’ tools and equipment and home maintenance tools for a short period of time. Enterprises that primarily focus on other rentals like trucks and trailers without drivers, party and banquet equipment and personal and household goods are all excluded from this industry.
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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