Equipment rental market worldwide - statistics & facts
The initial investments related to the acquisition of new machines discourage firms to put a burden on their operating expenditures. Equipment renting offers more flexibility and alleviates these additional costs. Until 2019, the equipment rental market has experienced consistent growth in line with the growing construction industry. In 2020, the North American and European markets experienced a significant decline in revenue recording a decrease of 9.1 and 6.6 percent, respectively. The sharp decline in revenue comes as a result of reduced operations due to global lockdown regulations caused by the coronavirus pandemic.
