Forklift Rental Market is Projected To Garner Significant Sales Revenue of US$ 16.3 Billion by 2033

Rockville, United States, 2023-July-27 — /EPR Network/ —

The market for  forklift rental is anticipated to reach US$ 10.3 billion in 2023 and grow at a CAGR of 4.7% from 2023 to 2033.

Forklifts are essential to the operations of sectors like manufacturing, construction, logistics, and warehousing. Access to specialised forklift models, such as those built for rocky terrain or narrow aisles, is provided via renting.

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“Forklift Rental services are a Key Component for the Expanding Logistics Sector” says a Fact.MR analyst.

Key Companies Profiled In This Report

• BigRentz
• BlueLine Rental
• Sunbelt Rentals
• The Home Depot Rental
• United Rentals

Market Development

Rental service providers are entering into strategic partnerships or acquiring other companies to strengthen their market position and expand their customer base. These partnerships include collaborations with manufacturers to gain exclusive access to new forklift models or strategic alliances with logistics companies to provide integrated material handling solutions. Acquisitions allow rental providers to quickly gain market share and access new regions or market segments.

Key Takeaways from Market Study

• The global forklift rental market is projected to expand at a CAGR of 4.7% and be valued at US$ 16.3 billion by 2033
• The market witnessed a CAGR of 4.9% for the period of 2018-2022
• Under the power source segment, electric forklifts dominate the market with a 69.1% market share in 2023
• United States dominated the market with a 24.7% market share in 2023
• Based on country, the United States and China forklift rental market is expected to increase at CAGRs of 4.9% and 5.0%

Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2028. by Application segment also provides consumption during the forecast period of 2016 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

By the product type, the market is primarily split into

• 13.5 Tons
• 3.510 Tons
• Above 10 Tons

By the end users/application, this report covers the following segments

• Construction
• Automotive
• Aerospace and Defense
• Food and Beverages
• Chemical Industry
• Other

This Report lets you identify the opportunities in Forklift Rental Market by means of a region:

• North America (the United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Turkey, etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
• South America (Brazil etc.)
• The Middle East and Africa (North Africa and GCC Countries)

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