Compact Power Equipment Rental Market Outlook (2023 to 2033)

The global compact power equipment rental market size is anticipated to surpass a valuation of US$ 111,077.4 million in 2023. The expanding market value and a wide range of applications are projected to be the market's primary growth drivers.

The overall market for compact power equipment rental is projected to expand at a significant CAGR of 6.4% between 2023 and 2033, totaling around US$ 206,557.9 million by the end of 2033.

Attribute Details
Compact Power Equipment Rental Market Share (2022) US$ 107,234.1 million
Compact Power Equipment Rental Market Share (2023) US$ 111,077.4 million
Compact Power Equipment Rental Market Share (2033) US$ 206,557.9 million
Compact Power Equipment Rental Market Share (2023 to 2033) 6.4%

All tools required for mild construction jobs are included in compact power equipment. Further, the equipment is compact and it is utilized to create products with great ease and convenience. There are several types of compact power tools, including engine-driven power tools, electric power tools, and pneumatic power tools. Further, they are used for a variety of tasks including drilling, polishing, woodwork routing, and screw driving.

Compact tools are mostly used for construction projects. These tools are used on construction sites to perform tasks such as drilling, hammering, cutting, grinding, washing, and blowing equipment. Moreover, compact power tools are lightweight, small in size, and simple to employ and transport. They are, however, challenging to use compared to standard hand tools, necessitate skilled labor, and require regular maintenance to avoid tool wear.

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Compact Power Equipment Rental Market Historical Analysis (2018 to 2022) Vs. Forecast Outlook (2023 to 2033)

As per Future Market Insights, the global demand for compact power equipment rental is poised to expand at a CAGR of 6.4% from the forecast period between 2023 and 2033, in comparison to the 3.6% CAGR registered from 2018 to 2022. The global compact power tools rental market is anticipated to expand steadily as demand for electric tools soars in developing countries.

Power tool rental market growth is being stimulated by a rise in consumption for quick project completion and a boost in infrastructure development activities in developing regions such as Asia. Here, construction companies rent tools from power tool companies because they cannot afford to invest in power equipment.

Which Factors are Restraining the Growth of the Compact Power Equipment Rental Market?

The challenges ahead include ongoing maintenance and high equipment costs. Clients who borrow equipment from companies frequently damage the tools, which is a key concern for the power tool rental market.

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How is Growth Likely to Unfold in Asia Pacific’s Compact Power Equipment Rental Market?

With increasing construction and infrastructure development activities in countries such as India, Japan, and China, Asia-Pacific is an important region for compact power tool companies. Moreover, the construction industry endured a significant setback as a consequence of lockdown restrictions in the first two quarters of 2021.

With the subtle relaxation of quarantine restrictions, compact equipment rental is witnessing an increase in demand, owing to the increasing preference of construction contractors for renting equipment rather than investing in costly new equipment.

Of the growing construction and infrastructure transformation projects across all industry verticals, Asia Pacific countries are experiencing significant development. The Pune Metro Rail, Navi Mumbai International Airport, Delhi Mumbai Industrial Corridor, Charanka Solar Park, and Chenab River Railway Bridge are among the leading projects currently under construction in India. All of these factors are expected to drive the market.

How Does Growth Unfold in Europe’s Compact Power Equipment Rental Market?

Europe is expected to hold a 27.2% market share of the global compact power equipment market in 2023. Europe received a sizable share as a result of ongoing development in around 15 countries, including Switzerland, the Netherlands, Spain, Italy, and the United Kingdom. The invasion of the fleet in these countries is expected to drive market growth in this region.

Techtronic Industries acquired Ryobi's power tools business in Europe, as well as Royal Appliance Manufacturing Company, a North American market leader in developing, marketing, and assembling cleaning appliances such as vacuum cleaners for both domestic and commercial use.

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How the Growth is Estimated to Unfold in North America’s Compact Power Equipment Rental Market?

North America is predicted to account for a market share of 23.7% of the global compact power equipment rental market. Also, companies in North America have widely chosen to rent compact equipment over the years. This shift is prompted by the high maintenance and purchase costs of this equipment.

The expanding number of construction projects in Canada has elevated the opportunity for expansion in the rental compact equipment sector. This is primarily due to the country's increased immigration. Furthermore, the regional government is investing hugely in infrastructure development activities that can satisfy the requirements of both citizens and immigrants.

The Start-up Ecosystem

How Key Players are Opening Frontiers for Future Growth?

Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a large customer base. For instance:

  • In 2009, Equipment Rentals India, a private compact power tool rental company, was founded. It offers customers compact power tools in a variety of ranges.

Who are the Leading Players in the Compact Power Equipment Rental Market?

Some of the leading compact power equipment rental device manufacturers include Makita Corporation, Bosch, Stanley Black & Decker, and Techtronic Industries are dominant leaders. Other important players include Hilti Group, Panasonic Corporation, Emerson Electric Company, Snap-on Inc., etc.

These key compact power equipment rental providers are adopting various strategies such as new product launches and approvals, partnerships, collaborations, acquisitions, mergers, etc. to increase their sales and gain a competitive edge in the global compact power equipment rental market.

Recent Developments Observed by FMI:

  • In January 2023, Bosch Power Tools India, a pioneering provider of power tools for the woodworking, construction, and metalworking industries, launched the new GWS 800 Professional, a new product for its extensive range of angle grinders. The company’s localization share is predicted to hit 55% in 2023 with this launch.
  • By acquiring sister rental firms Sofranel and Société Cominoise de Location (SCL) in September 2022, the French rental giant Loxam expanded its reach throughout northern France.
  • United Rental Inc. announced the complete asset acquisition of General Finance Corporation in April 2021 as a part of its strategic move to expand its existing product portfolio.
  • Sunstate Equipment Co., a Phoenix-based provider of innovative equipment and tool rentals, partnered with Built Robotics, a California-based industrial automation company, in April 2019. The primary goal of this collaboration is to rent out autonomous compact equipment to contractors. According to company officials, Built's autonomous upgrade kits can make Sunstate's customers more productive than ever before.

Key Players Profiled in the Global Market:

  • Makita Corporation
  • Bosch
  • Stanley Black & Decker
  • Techtronic Industries
  • Hilti Group
  • Panasonic Corporation
  • Emerson Electric Company
  • Snap-on Inc.
  • SPX Corporation
  • Compact Power Rents

Scope of the Report

Attribute Details
Forecast Period 2023 to 2033
Historical Data Available for 2018 to 2022
Market Analysis US$ million for Value
Key Regions Covered North America; Latin America; Europe; Asia Pacific; The Middle East & Africa (MEA)
Key Countries Covered The United States, Canada, Germany, The United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASIAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others
Key Segments Covered Type, Region
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Compact Power Equipment Rental Market Segmentation

By Type:

  • Compact Electric Power Tools Rental
  • Compact Engine-driven Power Tools Rental
  • Compact Pneumatic Power Tools

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East & Africa (MEA)

Frequently Asked Questions

How Big is the Compact Power Equipment Rental Market?

The market is valued at US$ 111,077.4 million in 2023.

Who are the Leading Key Industry Players?

Snap-on Inc., SPX Corporation, and Compact Power Rents are the key companies.

What is the Growth Forecast for the Compact Power Equipment Rental Market?

The market is forecast to register a CAGR of 6.4% through 2033.

What is the Market Share of North America?

North America is predicted to account for a market share of 23.7% of the global market.

What is the Growth Outlook for the Industry in Europe?

Europe is expected to hold a 27.2% market share of the global market in 2023.

Table of Content
1. Executive Summary
    1.1. Global Market Outlook
    1.2. Demand-side Trends
    1.3. Supply-side Trends
    1.4. Technology Roadmap Analysis
    1.5. Analysis and Recommendations
2. Market Overview
    2.1. Market Coverage / Taxonomy
    2.2. Market Definition / Scope / Limitations
3. Market Background
    3.1. Market Dynamics
        3.1.1. Drivers
        3.1.2. Restraints
        3.1.3. Opportunity
        3.1.4. Trends
    3.2. Scenario Forecast
        3.2.1. Demand in Optimistic Scenario
        3.2.2. Demand in Likely Scenario
        3.2.3. Demand in Conservative Scenario
    3.3. Opportunity Map Analysis
    3.4. Investment Feasibility Matrix
    3.5. PESTLE and Porter’s Analysis
    3.6. Regulatory Landscape
        3.6.1. By Key Regions
        3.6.2. By Key Countries
    3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
    4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
        4.2.1. Y-o-Y Growth Trend Analysis
        4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
    5.1. Introduction / Key Findings
    5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2018 to 2022
    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2023 to 2033
        5.3.1. Compact Electric Power Tools Rental
        5.3.2. Compact Engine-driven Power Tools Rental
        5.3.3. Compact Pneumatic Power Tools Rental
    5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
    5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
    6.1. Introduction / Key Findings
    6.2. Historical Market Size Value (US$ Million) Analysis By End User, 2018 to 2022
    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User, 2023 to 2033
        6.3.1. Construction & Infrastructure
        6.3.2. Manufacturing & Industrial
        6.3.3. Oil and Gas, Mining, & Energy
        6.3.4. Landscaping & Outdoor Maintenance
        6.3.5. Agriculture & Farming
        6.3.6. Transportation & Logistics
        6.3.7. Home Improvement & DIY
        6.3.8. Municipal & Government Projects
        6.3.9. Telecommunications & Network Infrastructure
        6.3.10. Utilities & Power Generation
        6.3.11. Others
    6.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022
    6.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    7.1. Introduction
    7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
    7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
        7.3.1. North America
        7.3.2. Latin America
        7.3.3. Western Europe
        7.3.4. Eastern Europe
        7.3.5. South Asia and Pacific
        7.3.6. East Asia
        7.3.7. Middle East and Africa
    7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        8.2.1. By Country
            8.2.1.1. U.S.
            8.2.1.2. Canada
        8.2.2. By Type
        8.2.3. By End User
    8.3. Market Attractiveness Analysis
        8.3.1. By Country
        8.3.2. By Type
        8.3.3. By End User
    8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        9.2.1. By Country
            9.2.1.1. Brazil
            9.2.1.2. Mexico
            9.2.1.3. Rest of Latin America
        9.2.2. By Type
        9.2.3. By End User
    9.3. Market Attractiveness Analysis
        9.3.1. By Country
        9.3.2. By Type
        9.3.3. By End User
    9.4. Key Takeaways
10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        10.2.1. By Country
            10.2.1.1. Germany
            10.2.1.2. U.K.
            10.2.1.3. France
            10.2.1.4. Spain
            10.2.1.5. Italy
            10.2.1.6. Rest of Western Europe
        10.2.2. By Type
        10.2.3. By End User
    10.3. Market Attractiveness Analysis
        10.3.1. By Country
        10.3.2. By Type
        10.3.3. By End User
    10.4. Key Takeaways
11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        11.2.1. By Country
            11.2.1.1. Poland
            11.2.1.2. Russia
            11.2.1.3. Czech Republic
            11.2.1.4. Romania
            11.2.1.5. Rest of Eastern Europe
        11.2.2. By Type
        11.2.3. By End User
    11.3. Market Attractiveness Analysis
        11.3.1. By Country
        11.3.2. By Type
        11.3.3. By End User
    11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        12.2.1. By Country
            12.2.1.1. India
            12.2.1.2. Bangladesh
            12.2.1.3. Australia
            12.2.1.4. New Zealand
            12.2.1.5. Rest of South Asia and Pacific
        12.2.2. By Type
        12.2.3. By End User
    12.3. Market Attractiveness Analysis
        12.3.1. By Country
        12.3.2. By Type
        12.3.3. By End User
    12.4. Key Takeaways
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        13.2.1. By Country
            13.2.1.1. China
            13.2.1.2. Japan
            13.2.1.3. South Korea
        13.2.2. By Type
        13.2.3. By End User
    13.3. Market Attractiveness Analysis
        13.3.1. By Country
        13.3.2. By Type
        13.3.3. By End User
    13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
        14.2.1. By Country
            14.2.1.1. GCC Countries
            14.2.1.2. South Africa
            14.2.1.3. Israel
            14.2.1.4. Rest of MEA
        14.2.2. By Type
        14.2.3. By End User
    14.3. Market Attractiveness Analysis
        14.3.1. By Country
        14.3.2. By Type
        14.3.3. By End User
    14.4. Key Takeaways
15. Key Countries Market Analysis
    15.1. U.S.
        15.1.1. Pricing Analysis
        15.1.2. Market Share Analysis, 2022
            15.1.2.1. By Type
            15.1.2.2. By End User
    15.2. Canada
        15.2.1. Pricing Analysis
        15.2.2. Market Share Analysis, 2022
            15.2.2.1. By Type
            15.2.2.2. By End User
    15.3. Brazil
        15.3.1. Pricing Analysis
        15.3.2. Market Share Analysis, 2022
            15.3.2.1. By Type
            15.3.2.2. By End User
    15.4. Mexico
        15.4.1. Pricing Analysis
        15.4.2. Market Share Analysis, 2022
            15.4.2.1. By Type
            15.4.2.2. By End User
    15.5. Germany
        15.5.1. Pricing Analysis
        15.5.2. Market Share Analysis, 2022
            15.5.2.1. By Type
            15.5.2.2. By End User
    15.6. U.K.
        15.6.1. Pricing Analysis
        15.6.2. Market Share Analysis, 2022
            15.6.2.1. By Type
            15.6.2.2. By End User
    15.7. France
        15.7.1. Pricing Analysis
        15.7.2. Market Share Analysis, 2022
            15.7.2.1. By Type
            15.7.2.2. By End User
    15.8. Spain
        15.8.1. Pricing Analysis
        15.8.2. Market Share Analysis, 2022
            15.8.2.1. By Type
            15.8.2.2. By End User
    15.9. Italy
        15.9.1. Pricing Analysis
        15.9.2. Market Share Analysis, 2022
            15.9.2.1. By Type
            15.9.2.2. By End User
    15.10. Poland
        15.10.1. Pricing Analysis
        15.10.2. Market Share Analysis, 2022
            15.10.2.1. By Type
            15.10.2.2. By End User
    15.11. Russia
        15.11.1. Pricing Analysis
        15.11.2. Market Share Analysis, 2022
            15.11.2.1. By Type
            15.11.2.2. By End User
    15.12. Czech Republic
        15.12.1. Pricing Analysis
        15.12.2. Market Share Analysis, 2022
            15.12.2.1. By Type
            15.12.2.2. By End User
    15.13. Romania
        15.13.1. Pricing Analysis
        15.13.2. Market Share Analysis, 2022
            15.13.2.1. By Type
            15.13.2.2. By End User
    15.14. India
        15.14.1. Pricing Analysis
        15.14.2. Market Share Analysis, 2022
            15.14.2.1. By Type
            15.14.2.2. By End User
    15.15. Bangladesh
        15.15.1. Pricing Analysis
        15.15.2. Market Share Analysis, 2022
            15.15.2.1. By Type
            15.15.2.2. By End User
    15.16. Australia
        15.16.1. Pricing Analysis
        15.16.2. Market Share Analysis, 2022
            15.16.2.1. By Type
            15.16.2.2. By End User
    15.17. New Zealand
        15.17.1. Pricing Analysis
        15.17.2. Market Share Analysis, 2022
            15.17.2.1. By Type
            15.17.2.2. By End User
    15.18. China
        15.18.1. Pricing Analysis
        15.18.2. Market Share Analysis, 2022
            15.18.2.1. By Type
            15.18.2.2. By End User
    15.19. Japan
        15.19.1. Pricing Analysis
        15.19.2. Market Share Analysis, 2022
            15.19.2.1. By Type
            15.19.2.2. By End User
    15.20. South Korea
        15.20.1. Pricing Analysis
        15.20.2. Market Share Analysis, 2022
            15.20.2.1. By Type
            15.20.2.2. By End User
    15.21. GCC Countries
        15.21.1. Pricing Analysis
        15.21.2. Market Share Analysis, 2022
            15.21.2.1. By Type
            15.21.2.2. By End User
    15.22. South Africa
        15.22.1. Pricing Analysis
        15.22.2. Market Share Analysis, 2022
            15.22.2.1. By Type
            15.22.2.2. By End User
    15.23. Israel
        15.23.1. Pricing Analysis
        15.23.2. Market Share Analysis, 2022
            15.23.2.1. By Type
            15.23.2.2. By End User
16. Market Structure Analysis
    16.1. Competition Dashboard
    16.2. Competition Benchmarking
    16.3. Market Share Analysis of Top Players
        16.3.1. By Regional
        16.3.2. By Type
        16.3.3. By End User
17. Competition Analysis
    17.1. Competition Deep Dive
        17.1.1. Makita Corporation
            17.1.1.1. Overview
            17.1.1.2. Product Portfolio
            17.1.1.3. Profitability by Market Segments
            17.1.1.4. Sales Footprint
            17.1.1.5. Strategy Overview
                17.1.1.5.1. Marketing Strategy
        17.1.2. Bosch
            17.1.2.1. Overview
            17.1.2.2. Product Portfolio
            17.1.2.3. Profitability by Market Segments
            17.1.2.4. Sales Footprint
            17.1.2.5. Strategy Overview
                17.1.2.5.1. Marketing Strategy
        17.1.3. Stanley Black & Decker
            17.1.3.1. Overview
            17.1.3.2. Product Portfolio
            17.1.3.3. Profitability by Market Segments
            17.1.3.4. Sales Footprint
            17.1.3.5. Strategy Overview
                17.1.3.5.1. Marketing Strategy
        17.1.4. Techtronic Industries
            17.1.4.1. Overview
            17.1.4.2. Product Portfolio
            17.1.4.3. Profitability by Market Segments
            17.1.4.4. Sales Footprint
            17.1.4.5. Strategy Overview
                17.1.4.5.1. Marketing Strategy
        17.1.5. Hilti Group
            17.1.5.1. Overview
            17.1.5.2. Product Portfolio
            17.1.5.3. Profitability by Market Segments
            17.1.5.4. Sales Footprint
            17.1.5.5. Strategy Overview
                17.1.5.5.1. Marketing Strategy
        17.1.6. Panasonic Corporation
            17.1.6.1. Overview
            17.1.6.2. Product Portfolio
            17.1.6.3. Profitability by Market Segments
            17.1.6.4. Sales Footprint
            17.1.6.5. Strategy Overview
                17.1.6.5.1. Marketing Strategy
        17.1.7. Emerson Electric Company
            17.1.7.1. Overview
            17.1.7.2. Product Portfolio
            17.1.7.3. Profitability by Market Segments
            17.1.7.4. Sales Footprint
            17.1.7.5. Strategy Overview
                17.1.7.5.1. Marketing Strategy
        17.1.8. Snap-on Inc.
            17.1.8.1. Overview
            17.1.8.2. Product Portfolio
            17.1.8.3. Profitability by Market Segments
            17.1.8.4. Sales Footprint
            17.1.8.5. Strategy Overview
                17.1.8.5.1. Marketing Strategy
        17.1.9. SPX Corporation
            17.1.9.1. Overview
            17.1.9.2. Product Portfolio
            17.1.9.3. Profitability by Market Segments
            17.1.9.4. Sales Footprint
            17.1.9.5. Strategy Overview
                17.1.9.5.1. Marketing Strategy
        17.1.10. Compact Power Rents
            17.1.10.1. Overview
            17.1.10.2. Product Portfolio
            17.1.10.3. Profitability by Market Segments
            17.1.10.4. Sales Footprint
            17.1.10.5. Strategy Overview
                17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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