PUBLISHER: Grand View Research | PRODUCT CODE: 1751423
PUBLISHER: Grand View Research | PRODUCT CODE: 1751423
Forklift Rental Market Size, Share & Trends Analysis Report By Ton Capacity (Below 5 Ton, 6-30 Ton, Above 30 Ton), By End Use (Construction, Automotive, Aerospace & Defense, Warehouse and Logistics), By Region, And Segment Forecasts, 2025 - 2030
Forklift Rental Market Size & Trends:
The global forklift rental market size was estimated at USD 6.10 billion in 2024 and is projected to grow at a CAGR of 5.4% from 2025 to 2030. A key driver in the global forklift rental industry is the introduction of stringent government regulations aimed at reducing emissions and improving air quality.
Regulatory bodies across developed markets are mandating a transition from internal combustion engine (ICE) forklifts to electric alternatives. Notably, the California Air Resources Board (CARB) approved the Zero-Emission Forklift Regulation in 2023, which mandates the phased retirement of Class IV and V gasoline and LPG-powered forklifts between 2026 and 2029. This regulation forms a core part of California's broader climate strategy and targets both public and private fleets, including rental companies. As a result, rental agencies are increasingly compelled to upgrade their fleets with battery-electric and hydrogen fuel cell forklifts to remain compliant. The widespread adoption of zero-emission forklifts and already proven effective in warehousing and logistics operations and is accelerating globally as other regions consider similar mandates. This transition is expected to drive significant rental demand for compliant, low-emission forklifts, particularly in urban and regulated industrial zones.
The exponential growth of e-commerce is a major factor driving demand in the forklift rental industry, particularly within warehousing and distribution operations. The U.S. Bureau of Labor Statistics (BLS) notes that the shift toward online retailing significantly increases the need for warehousing and storage services, which are far more space and labor-intensive than traditional brick-and-mortar retail. As global retailers and third-party logistics providers expand fulfillment centers to meet rising consumer expectations, the need for efficient material handling grows in parallel. Since many of these facilities prefer flexible, scalable equipment access, rental forklifts offer an ideal solution during peak seasons or rapid facility expansion. The demand for short-term forklift rentals typically spikes during high-volume periods such as holidays, driven by the need to move goods quickly and safely in time-sensitive logistics environments.
Government-backed infrastructure development and large-scale industrial construction projects are fueling the short-term growth of forklift rentals across global markets. In the U.S., the ongoing implementation of federal infrastructure legislation has sparked the construction of new highways, bridges, energy facilities, and data centers. Rental companies such as Herc Rentals have publicly reported that these "mega projects" are creating sustained demand for material handling equipment. Forklifts, essential for loading and transporting heavy components on construction sites, are frequently rented due to their high capital cost and the temporary nature of projects. Similarly, countries in Asia and Europe investing in transportation, warehousing, and port infrastructure are generating fresh rental opportunities for forklift operators. Rental services offer a flexible and cost-effective solution to meet these temporary surges in equipment demand without overcommitting capital expenditure.
Macroeconomic volatility, including elevated inflation and interest rates, is pushing companies to shift from purchasing forklifts to renting them. With higher borrowing costs and supply chain disruptions affecting the availability and pricing of new equipment, many businesses are adopting rental models to preserve capital and improve operational flexibility. According to the American Rental Association (ARA), rental equipment allows companies to avoid large upfront investments, spread operational costs more evenly, and mitigate the risks associated with economic uncertainty. In emerging markets, where financing access is limited, rental offers a practical alternative to equipment ownership. This trend is particularly visible in construction, manufacturing, and distribution sectors, where project-based operations prefer short-term access to modern equipment without long-term financial obligations.
The growing adoption of automation, telematics, and smart inventory systems in warehousing is reshaping forklift rental demand. As companies modernize warehouse operations to improve efficiency, safety, and throughput, the demand for advanced forklift features, such as onboard sensors, real-time fleet tracking, and lithium-ion battery systems, is rising. The BLS highlights that technology integration is becoming a permanent fixture in logistics and storage environments, driven in part by e-commerce logistics. Rental fleets are responding by offering high-tech forklifts with connectivity features and remote monitoring capabilities. These features enhance operational visibility and safety, aligning with the digitization strategies of major warehouse operators. Moreover, businesses undergoing digital transformation prefer renting upgraded forklifts to test advanced technologies without making long-term capital commitments.
Global Forklift Rental Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global forklift rental market report based on ton capacity, end use, and region.
- Ton Capacity Outlook (Revenue, USD Billion, 2018 - 2030)
- Below 5 Ton
- 6-30 Ton
- Above 30 Ton
- End Use Outlook (Revenue, USD Billion, 2018 - 2030)
- Construction
- Automotive
- Aerospace & Defense
- Warehouse and Logistics
- Others
- Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Middle East and Africa (MEA)
- KSA
- UAE
- South Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Country Based Segment Share Calculation
- 1.8. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Forklift Rental Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. Forklift Rental Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
- 3.3.1. Industry Analysis - Porter's
Chapter 4. Forklift Rental Market: Ton Capacity Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Forklift Rental Market: Ton Capacity Movement Analysis, 2024 & 2030 (USD Million)
- 4.3. Below 5 Ton
- 4.3.1. Below 5 Ton Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. 6-30 Ton
- 4.4.1. 6-30 Ton Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Above 30 Ton
- 4.5.1. Above 30 Ton Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Forklift Rental Market: End Use Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Forklift Rental Market: End Use Movement Analysis, 2024 & 2030 (USD Million)
- 5.3. Construction
- 5.3.1. Construction Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Automotive
- 5.4.1. Automotive Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Aerospace & Defense
- 5.5.1. Aerospace & Defense Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.6. Warehouse and Logistics
- 5.6.1. Warehouse and Logistics Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.7. Others
- 5.7.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Forklift Rental Market: Regional Estimates & Trend Analysis
- 6.1. Forklift Rental Market Share, By Region, 2024 & 2030 (USD Million)
- 6.2. North America
- 6.2.1. North America Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. U.S. Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Canada Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Mexico Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Europe Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. UK
- 6.3.2.1. UK Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Germany
- 6.3.3.1. Germany Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. France
- 6.3.4.1. France Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. China
- 6.4.2.1. China Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. Japan
- 6.4.3.1. Japan Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4. India
- 6.4.4.1. India Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5. South Korea
- 6.4.5.1. South Korea Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6. Australia
- 6.4.6.1. Australia Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Latin America Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Brazil Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Middle East and Africa
- 6.6.1. Middle East and Africa Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. UAE
- 6.6.2.1. UAE Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.3. KSA
- 6.6.3.1. KSA Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4. South Africa
- 6.6.4.1. South Africa Forklift Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Company Market Positioning
- 7.3. Company Heat Map Analysis
- 7.4. Company Profiles/Listing
- 7.4.1. United Rentals, Inc
- 7.4.1.1. Participant's Overview
- 7.4.1.2. Financial Performance
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. Sunbelt Rentals, Inc.
- 7.4.2.1. Participant's Overview
- 7.4.2.2. Financial Performance
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. Herc Rentals Inc.
- 7.4.3.1. Participant's Overview
- 7.4.3.2. Financial Performance
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. Boels Rental
- 7.4.4.1. Participant's Overview
- 7.4.4.2. Financial Performance
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. KION GROUP AG
- 7.4.5.1. Participant's Overview
- 7.4.5.2. Financial Performance
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. Nishio Rent All (M) Sdn Bhd
- 7.4.6.1. Participant's Overview
- 7.4.6.2. Financial Performance
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. Toyota
- 7.4.7.1. Participant's Overview
- 7.4.7.2. Financial Performance
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. Crown Equipment Corportion
- 7.4.8.1. Participant's Overview
- 7.4.8.2. Financial Performance
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. Caterpillar
- 7.4.9.1. Participant's Overview
- 7.4.9.2. Financial Performance
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. Komatsu
- 7.4.10.1. Participant's Overview
- 7.4.10.2. Financial Performance
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Strategic Initiatives
- 7.4.1. United Rentals, Inc
List of Tables
- Table 1 Global Forklift Rental Market size estimates & forecasts, 2018 - 2030 (USD Million)
- Table 2 Global Forklift Rental Market, by region, 2018 - 2030 (USD Million)
- Table 3 Global Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 4 Global Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 5 Below 5 Ton market, by region, 2018 - 2030 (USD Million)
- Table 6 6-30 Ton market, by region, 2018 - 2030 (USD Million)
- Table 7 Above 30 Ton market, by region, 2018 - 2030 (USD Million)
- Table 8 Construction market, by region, 2018 - 2030 (USD Million)
- Table 9 Automotive Operator market, by region, 2018 - 2030 (USD Million)
- Table 10 Aerospace & Defense market, by region, 2018 - 2030 (USD Million)
- Table 11 Others market, by region, 2018 - 2030 (USD Million)
- Table 12 North America Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 13 North America Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 14 U.S. Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 15 U.S. Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 16 Canada Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 17 Canada Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 18 Mexico Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 19 Mexico Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 20 Europe Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 21 Europe Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 22 UK Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 23 UK Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 24 Germany Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 25 Germany Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 26 France Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 27 France Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 28 Asia Pacific Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 29 Asia Pacific Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 30 China Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 31 China Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 32 India Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 33 India Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 34 Japan Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 35 Japan Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 36 Australia Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 37 Australia Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 38 South Korea Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 39 South Korea Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 40 Latin America Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 41 Latin America Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 42 Brazil Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 43 Brazil Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 44 MEA Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 45 MEA Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 46 UAE Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 47 UAE Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 48 KSA Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 49 KSA Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
- Table 50 South Africa Forklift Rental Market, by Ton Capacity, 2018 - 2030 (USD Million)
- Table 51 South Africa Forklift Rental Market, by End Use, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Forklift Rental Market segmentation
- Fig. 2 Market research deployment mode
- Fig. 3 Information procurement
- Fig. 4 Primary research pattern
- Fig. 5 Market research approaches
- Fig. 6 Value chain-based sizing & forecasting
- Fig. 7 Parent market analysis
- Fig. 8 Market formulation & validation
- Fig. 9 Forklift Rental Market snapshot
- Fig. 10 Forklift Rental Market segment snapshot
- Fig. 11 Forklift Rental Market competitive landscape snapshot
- Fig. 12 Market research deployment mode
- Fig. 13 Market driver relevance analysis (Current & future impact)
- Fig. 14 Market restraint relevance analysis (Current & future impact)
- Fig. 15 Forklift Rental Market: Ton Capacity outlook key takeaways (USD Million)
- Fig. 16 Forklift Rental Market: Ton Capacity movement analysis 2024 & 2030 (USD Million)
- Fig. 17 Below 5 Ton market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 18 6-30 Ton market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Above 30 Ton market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 20 Forklift Rental Market: End Use outlook key takeaways (USD Million)
- Fig. 21 Forklift Rental Market: End Use movement analysis 2024 & 2030 (USD Million)
- Fig. 22 Construction market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Automotive market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Aerospace & Defense market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 25 Warehouse and Logistics market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 26 Others market revenue estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 27 Regional marketplace: Key takeaways
- Fig. 28 Forklift Rental Market: Regional outlook, 2024 & 2030 (USD Million)
- Fig. 29 North America Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 30 US Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 31 Canada Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 32 Mexico Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 33 Europe Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 34 UK Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 35 Germany Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 36 France Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 37 Asia Pacific Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 38 Japan Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 39 China Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 40 India Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 41 Australia Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 42 South Korea Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 43 Latin America Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 44 Brazil Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 45 MEA Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 46 KSA Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 47 UAE Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 48 South Africa Forklift Rental Market estimates and forecasts, 2018 - 2030 (USD Million)
- Fig. 49 Strategy framework
- Fig. 50 Company Categorization
