| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 5.10% |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Construction Equipment Rental Market Analysis
The India Construction Equipment Rental Market is expected to register a CAGR of 5.10% during the forecast period.
Infrastructure development and automation in construction and manufacturing have significantly fueled market growth. Recent road development programs by central and state governments have driven notable expansion in the road construction machinery market.
Due to high equipment and maintenance costs, there's been a surge in renting or leasing construction equipment. Beyond cost savings, renting offers additional advantages: rental companies not only provide the machinery but also include professional operators and drivers in the rental agreement.
Construction contractors prefer renting machinery for short-term applications over purchasing, as it ensures optimal machinery utilization.
India is currently home to approximately 1,263 ongoing construction projects spanning sectors like power, roads, railways, telecom, and shipping. Furthermore, with rising demand for office spaces in tier 1 and 2 cities, the appetite for rental construction equipment in India is set to grow during the forecast period.
India Construction Equipment Rental Market Trends
Material Handling Segment Emerges as the Largest Segment
Material handling equipment, especially cranes, plays a pivotal role in India's construction and infrastructure projects, making it the dominant segment in the country's construction equipment rental market.
India's ambitious mega infrastructure projects, including the Bullet Train, Central Vista, and dedicated freight corridors, are set to reshape the nation by 2030. These initiatives, requiring extensive crane and heavy machinery use for construction and logistics, will drive a surge in demand for material handling equipment.
Given the scale and extended timelines of these projects, there's not only a need for high-capacity cranes but also a consistent demand for rental material handling equipment. As these mega projects roll out across sectors like transportation and urban development, they promise to keep the equipment rental market thriving.
With rising investments in both residential and commercial sectors, coupled with proactive measures from the Indian government, the country's construction sector is poised for significant growth.
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Cranes Are Likely to Dominate The Construction Equipment Rental Market
In the construction equipment rental market, cranes are classified into several types: crawler, all-terrain, rough-terrain, tower, and truck-mounted. While crawler, all-terrain, tower, and truck-mounted cranes are commonly used in construction, rough-terrain cranes serve a dual purpose. They cater to a niche in construction but are predominantly in demand within the mining sector. Given the high costs of these cranes, there's been a noticeable surge in their rental trend.
India is pouring significant investments into its ambitious infrastructure projects, underscoring meticulous planning. Take the BharatMala project, for instance, boasting a budget of approximately USD 103.66 billion (INR 8.5 lakh crores) aimed at enhancing road connectivity. Then there's the Delhi-Mumbai Industrial Corridor, another behemoth with an estimated cost of around USD 90 billion.
These grand initiatives not only necessitate cranes during their construction phases but also for ongoing operations and maintenance, bolstering the demand for rentals. Furthermore, industry giants like L&T, Shapoorji, and Tata Projects are increasingly leaning towards renting cranes rather than purchasing them outright.
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India Construction Equipment Rental Industry Overview
In the fragmented landscape of India's construction equipment rental market, both small and large companies vie for dominance. Notable players include iQuippo, Volvo Construction Equipment, ACE Cranes, ABC Infra Equipment Pvt Ltd., Sanghvi Movers Limited (SML), All India Crane Hiring Co., and Jainex Group, among others.
These companies are not just expanding their footprints but are also investing in new machinery to bolster their rental offerings. For instance,
- In June 2024, Sanghvi Movers, a frontrunner in the construction equipment rental arena, clinched two work orders worth a combined USD 22 million (INR 180 crore). The first order tasks Sanghvi with delivering turnkey solutions, prominently featuring equipment rentals for a renewable energy initiative. The second order sees Sanghvi providing both equipment and services for above-ground piping in the hydrocarbons domain. These undertakings will draw upon Sanghvi Movers' vast rental fleet, underscoring its pivotal role in major infrastructure projects.
- In October 2023, MyCrane, a Dubai-based online crane rental platform, unveiled its foray into India and Saudi Arabia. In India, operations will be spearheaded by local partners in Pune and Surat, with ambitions for nationwide reach. Meanwhile, in Saudi Arabia, Piet Kraaijeveld will helm the operations, aligning with the nation's Vision 2030 and its ambitious infrastructure undertakings. This strategic move is poised to tap into the surging demand for crane rental services in both markets.
India Construction Equipment Rental Market Leaders
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Volvo Construction Equipment
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ABC Infra Equipment Pvt Ltd.,
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Sanghvi Movers Limited (SML)
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MYCRANE
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Jindal Infrastructure Pvt. Ltd.
- *Disclaimer: Major Players sorted in no particular order
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India Construction Equipment Rental Market News
- June 2024: CASE India rolled out its first Made-in-India Skid Steer Loader (SSL) from its state-of-the-art facility in Pithampur, Madhya Pradesh. The company has handed over the SSL–SR130B machine to its first Indian customer, Global Enterprises, based in Pune. The SSL SR130B is a robust 49hp, BS3 compliant model, powered by a Perkins engine.
- December 2023: Online crane rental platform Mycrane and start-up Equip9 signed an MoU at Excon. The partnership is aimed at propelling technical and commercial projects leveraging AI for recommendation and selection models in the crane rental and heavy equipment sector. The collaboration will also help each of the companies to expand their market reach.
India Construction Equipment Rental Industry Segmentation
Construction equipment rental involves leasing heavy machinery and tools essential for construction projects, rather than buying them. This encompasses a diverse array of equipment, including excavators, bulldozers, cranes, loaders, backhoes, and other specialized machinery utilized in building, infrastructure development, and various construction activities.
The India construction equipment rental market is segmented by vehicle type, and drive type. By vehicle type, the market is segmented into earth moving equipment, and material handling equipment. Earthmoving equipment is further categorized into backhoe. loaders, excavators, and others. Material handling equipment is further categorized into cranes, dump trucks, and others. By drive type, the market is segmented into IC engine and electric. The report offers market size and forecasts in terms of value (USD) for all the above segments.
| By Vehicle | Earth Moving Equipment | Backhoe | |
| Loaders | |||
| Excavators | |||
| Others | |||
| Material Handling | Cranes | ||
| Dump Trucks | |||
| Others | |||
| By Drive Type | IC Engine | ||
| Electric | |||
By Vehicle
| Earth Moving Equipment | Backhoe |
| Loaders | |
| Excavators | |
| Others | |
| Material Handling | Cranes |
| Dump Trucks | |
| Others |
By Drive Type
| IC Engine |
| Electric |
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India Construction Equipment Rental Market Research Faqs
What is the current India Construction Equipment Rental Market size?
The India Construction Equipment Rental Market is projected to register a CAGR of 5.10% during the forecast period (2025-2030)
Who are the key players in India Construction Equipment Rental Market?
Volvo Construction Equipment, ABC Infra Equipment Pvt Ltd.,, Sanghvi Movers Limited (SML), MYCRANE and Jindal Infrastructure Pvt. Ltd. are the major companies operating in the India Construction Equipment Rental Market.
What years does this India Construction Equipment Rental Market cover?
The report covers the India Construction Equipment Rental Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Construction Equipment Rental Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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India Construction Equipment Rental Industry Report
Statistics for the 2025 India Construction Equipment Rental market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Construction Equipment Rental analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
