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The US Equipment Rental Market | Growth,Trends and Forecast - 2020

The US Equipment Rental Market: Size and Forecasts with Impact Analysis of Covid-19 (2020-2024)

Publish Date:June 2020
No. of Pages:66

Format : Adobe Reader (PDF) Instant delivery

US$ 850.00

Scope of the Report

Best US Equipment Rental Market Report from 2020 to 2024

The report entitled “The US Equipment Rental Market: Size and Forecasts with Impact Analysis of Covid-19 (2020-2024)” provides an in-depth analysis of the US equipment rental market including detailed description of impact of Covid-19 followed by analysis of the market in terms of value and segments.

Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US equipment rental market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The major players dominating the US equipment rental market are United Rentals, Inc., Ashtead Group (Sunbelt), Herc Holdings Inc. and The Home Depot, Inc. The four companies have been profiled in the report providing their business overview, financial overview and business strategies.

Company Coverage

United Rentals Inc.
Ashtead Group (Sunbelt)
Herc Holdings Inc.
The Home Depot Inc.

Executive Summary

The equipment rental includes different machineries and tools of various types and sizes, which is provided by the rental companies on lease or on rent. The equipment is used by the customers for a limited span of time. The customers need to pay rental charges to the rental companies, along with some extra charging elements, such as travel cost, installation or services cost, etc.

Equipment Rental can help many industries to fulfill the seasonal demand of equipment. The main benefits of the Equipment Rental include the catering to short-term equipment need, forgoing the upfront investment, decreasing long-run expense, saving tax, solving equipment storage issues, shielding from market fluctuation and eliminating the responsibility of testing, maintenance and service.

The equipment rental market can be segmented on the basis of type (Party and Event equipment, General Tools & Construction and Industrial Equipment) and industry (Oil & Gas Industry, Construction Industry, Mining Industry & Power Industry). The construction and Industrial Equipment Rental market can be further segmented on the basis of type (Earthmoving Machinery, Material Handing Machinery and Concrete Road Construction).

The US equipment rental market has increased significantly during the years 2016-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The growth of the equipment rental market through the historic period was supported by growing construction spending, escalating oil and natural gas production, rising employment, soaring investment in equipment rental, increasing labor cost, etc. Yet the market faces some challenges such as complex business and use of Equipment Rental by unqualified operators, etc.

The Covid-19 pandemic is a headwind to the equipment rental market as restriction on construction activities and ban on social gatherings/ parties has dampened demand for equipment like earthmoving machine, road and bridge construction equipment, light and sound system etc. However, it is expected that as the impact of Covid-19 subsides and lockdowns are relaxed, economic activities would restart throughout the US. This in turn would reinvigorate the demand for various equipments. Thus, helping the equipment rental market in the country to recover gradually from the impact of the pandemic.


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1. Executive Summary

2. Introduction

2.1 Equipment Rental: An Overview
2.1.1 Benefits of Equipment Rental
2.1.2 General Terms and Conditions of Equipment Rental Agreement

2.2 Equipment Rental Segmentation: An Overview
2.2.1 Equipment Rental Segmentation by Type
2.2.2 Equipment Rental Segmentation by Industry

3. The US Market Analysis 

3.1 The US Equipment Rental Market: An Analysis

3.1.1 The US Equipment Rental Market by Value
3.1.2 The US Equipment Rental Market Penetration Rate
3.1.3 The US Equipment Rental Market by Segments (Construction and Industrial, General tool and Party and Events)

3.2 The US Equipment Rental Market: Segment Analysis

3.2.1 The US Construction and Industrial Equipment Rental Market by Value
3.2.2 The US Construction and Industrial Equipment Rental Market Segments by Value
3.2.3 The US General Tool Equipment Rental Market by Value
3.2.4 The US Party and Events Equipment Rental Market by Value

4. Impact of Covid-19 

4.1 Impact on the US Equipment Rental Market
4.1.1 Scenario of the US Equipment Rental Market as on March 2020 

4.2 Impact on the US Construction and Industrial Equipment Rental Market
4.2.1 Scenario of the US Construction and Industrial Equipment Rental Market as on 
June 2020

4.3 Impact on the US Event and Party Rental Market 
4.3.1 Scenario of the US Event and Party Equipment Rental Market as on June 2020

5.Market Dynamics 

5.1 Growth Drivers
5.1.1 Growing Construction Spending
5.1.2 Escalating Oil and Natural Gas Production
5.1.3 Rising Employment
5.1.4 Soaring Investment in Equipment Rental
5.1.5 Increasing Labor Cost
5.1.6 Rapid Urbanization
5.1.7 Rising GDP 

5.2 Challenges 
5.2.1 Complex Business
5.2.2 Use of Equipment Rental by Unqualified Operators 

5.3 Market Trends
5.3.1 Surging Infrastructure Investment
5.3.2 Emergence of Deep Sea Mining
5.3.3 Increasing Preference of Heavy Equipment Rental

6. Competitive Landscape

6.1 The US Equipment Rental Players by Market Share
6.2 The US Equipment Rental Market Players: Financial Comparison

7. Company Profiles

7.1 United Rentals Inc.
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategy

7.2 Ashtead Group
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.2 Business Strategy

7.3 Herc Holdings Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategy

7.4 The Home Depot Inc.
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategy
Figure 1: Benefits of Equipment Rental
Figure 2: Equipment Rental Segmentation by Type
Figure 3: Rent Equipment Segmentation by Industry
Figure 4: The US Equipment Rental Market by Value; 2016-2019 (US$ Billion)
Figure 5: The US Equipment Rental Market by Value; 2020-2024 (US$ Billion)
Figure 6: The US Equipment Rental Market Penetration Rate; 2000-2019 (Percentage, %)
Figure 7: The US Equipment Rental Market by Segments; 2019 (Percentage, %)
Figure 8: The US Construction and Industrial Equipment Rental Market by Value; 2016-2019 (US$ Billion)
Figure 9: The US Construction and Industrial Equipment Rental Market by Value; 2020-2024 (US$ Billion)
Figure 10: The US Construction and Industrial Equipment Rental Market Segments by Value; 2016-2019 (US$ Billion)
Figure 11: The US Construction and Industrial Equipment Rental Market Segments by Value; 2020-2024 (US$ Billion)
Figure 12: The US General Tool Equipment Rental Market by Value; 2016-2019 (US$ Billion)
Figure 13: The US General Tool Equipment Rental Market by Value; 2020-2024 (US$ Billion)
Figure 14: The US Party and Events Equipment Rental Market by Value; 2016-2019 (US$ Billion)
Figure 15: The US Party and Events Equipment Rental Market by Value; 2020-2024 (US$ Billion)
Figure 16: Impact on US Construction and Industrial Equipment Rental Business; June 2020
Figure 17: Time for Construction and Industrial Equipment Rental Revenues to Return or Exceed Pre Covid-19 Levels (Months)
Figure 18: Impact on US Party and Event Equipment Rental Business; June 2020
Figure 19: Time for Party and Event Equipment Rental Revenues to Return or Exceed Pre Covid-19 Levels (Months)
Figure 20: The US Construction Spending; 2015-2019 (US$ Trillion)
Figure 21: The US Construction Spending by Segment; 2016-2020 (US$ Billion)
Figure 22: The US Oil Production; 2010-2017 (Million Barrels)
Figure 23: The US Natural Gas Production; 2010-2017 (Billion Cubic Feet)
Figure 24: The US Employment Rate; 2014-2018 (Percentage, %)
Figure 25: The US Construction Employees; 2015-2019 (Million)
Figure 26: The US Equipment Rental Investment; 2015-2019 (US$ Billion)
Figure 27: The US Unit Labor Cost; 2014-2018 (Index Points)
Figure 28: The US Total Population & Urban Population; 2012-2017 (Million & Percentage, %)
Figure 29: The US Manufacturing, Construction & Mining GDP; 2014-2018 (US$ Billion)
Figure 30: The US Highway and Street Infrastructure Spending; 2018-2019 (US$ Billion)
Figure 31: The US Equipment Rental Players by Market Share; 2019 (Percentage, %)
Figure 32: United Rentals, Inc. Segments
Figure 33: United Rentals, Inc. Products and Services
Figure 34: United Rentals Inc. Total Revenue; 2015-2019 (US$ Billion)
Figure 35: United Rentals Inc. Total Revenue by Segments; 2019 (Percentage, %)
Figure 36: United Rentals Inc. Total Revenue by Sub-Segments; 2019 (Percentage, %)
Figure 37: United Rentals, Inc. Total Revenue by Region; 2019 (Percentage, %)
Figure 38: Ashtead Group Segments
Figure 39: Ashtead Group Products and Services
Figure 40: Ashtead Group Revenue; 2015-2019 (US$ Billion)
Figure 41: Ashtead Group Revenue by Equipment Type; 2019 (Percentage, %)
Figure 42: Ashtead Group Revenue by Segments; 2019 (Percentage, %)
Figure 43: Herc Holdings Inc. Products and Services
Figure 44: Herc Holdings Inc. Customers
Figure 45: Herc Holdings Inc. Total Revenue; 2015-2019 (US$ Billion)
Figure 46: Herc Holdings Inc. Total Revenue by Segments; 2019 (Percentage, %)
Figure 47: Herc Holdings Inc. Total Revenue by Region; 2019 (Percentage, %)
Figure 48: The Home Depot, Inc. Major Product Lines
Figure 49: The Home Depot, Inc. Customers
Figure 50: The Home Depot, Inc. Net Sales; 2017-2019 (US$ Billion)
Figure 51: The Home Depot, Inc. Net Sales by Segments; 2019 (Percentage, %)
Figure 52: The Home Depot, Inc. Net Sales by Region; 2019 (Percentage, %)
Table 1: The US Equipment Rental Market Players: Financial Comparison; 2019