United States Forklift Rental - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)

According to Mordor Intelligence, the United States forklift rental market size was valued at USD 1.51 billion in 2025 and estimated to grow from USD 1.60 billion in 2026 to reach USD 2.18 billion by 2031, at a CAGR of 6.28% during the forecast period (2026-2031).

This report is Segmented by Load Capacity (Less Than 3. 5 T, 3. 6 To 10 T, More Than 10 T), Rental Duration (Short-term/Spot, Mid-Term, Long-Term Lease), Power Source (Electric, Internal Combustion, Hybrid), Truck Class (Class I, Class II, and More), End-Use Industry (Warehousing and Logistics, Construction, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

United States Forklift Rental Market Trends and Insights

Explosive E-commerce Warehousing Demand

Amazon recently opened several new fulfillment centers across the U.S., with each center requiring dozens of rental forklifts during peak installation and ramp-up phases. Walmart invested significantly in automation upgrades for its high-tech customer fulfillment centers, driving short-term forklift demand during extended buildout periods. Quick-commerce giants Gopuff and DoorDash established micro-warehouses, relying on compact Class III pallet jacks rented for short-term periods. This demand pattern does not align with ownership economics. Texas logistics corridors added substantial new warehouse space, while Georgia also contributed significantly, reinforcing the South's leadership in the U.S. forklift rental market. Ongoing construction of fulfillment centers across the country provides a stable foundation for rental fleet utilization.

CAPEX-lite Preference Amid Higher Interest Rates

The Federal Reserve kept its policy rate in the 3.5%-3.75% band through early 2026, inflating equipment-financing costs . Sunbelt Rentals reported an increase in mid-term contract revenue, highlighting a notable shift among customers moving away from direct purchases. Meanwhile, Alta Equipment observed tighter margins on new forklift sales, underscoring the growing allure of rentals. Financing an electric forklift over a long-term period results in a monthly payment that is lower compared to rental rates, which are higher but include maintenance and unscheduled swap-outs. This narrows the economic gap when downtime risk is considered. These conditions favor the United States forklift rental market as CFOs prioritize balance-sheet flexibility.

Perceived Maintenance Liability and Damage Charges

Despite providers embedding waivers in base rates, many small contractors cite uncertainty as a rental deterrent, leading them to overestimate damage fees. Adding insurance can significantly increase daily rates, diminishing the savings compared to purchasing a used unit. With regional fleets often underutilized, it's evident that friction costs are capping the potential of the U.S. forklift rental market. While firms are introducing pre-rental photo audits and telematics to monitor operator misuse, first-time renters still face educational gaps.

Other drivers and restraints analyzed in the detailed report include:

1. Stricter U.S. EPA/CARB Emission Rules Accelerating Electric Rentals
2. OEM Fleet-as-a-Service Programs Boosting Rental Penetration
3. Cyclical Construction Project Delays

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Less-than-3.5-ton forklifts captured 45.87% of the United States forklift rental market share in 2025 and are forecast to grow at an 8.52% CAGR through 2031. Dense urban fulfillment nodes rely on these compact electric pallet jacks and stackers to navigate 30-foot aisles without compromising throughput. During holiday peaks, Amazon and Walmart frequently utilize such units, often opting for short-term contracts. While manufacturers of heavier goods traditionally relied on mid-range equipment, this segment is projected to grow more slowly as the push for automation reduces the need for repetitive lifting.

Rental duration patterns shift with equipment capacity: smaller models dominate short-term rentals, whereas larger units are increasingly leased for longer periods, especially in construction and steel handling. Systems like Toyota's T-Matics and Crown's InfoLink empower lessors to monitor equipment utilization, reducing unplanned downtime and extending asset life. Even in the heavy equipment segment, there's a noticeable shift towards electric. Recently, Port Newark ordered large battery units to align with regional air-quality regulations.

Short-term rentals accounted for 51.87% of the United States forklift rental market in 2025, driven by seasonal retail, agricultural, and event logistics needs. Yet mid-term contracts spanning 1 to 12 months will advance at a 9.04% CAGR as micro-fulfillment buildouts, data center construction, and 90- to 180-day commissioning activities proliferate. Once the bots took over, Kroger's Ocado-powered customer fulfillment centers no longer needed forklifts, a shift evident during the automated grid's installation.

United Rentals has introduced a "flex lease" that allows customers to convert short-term rentals into extended agreements. This comes with retroactive rate adjustments, providing a hedge against forecast uncertainties and ensuring United Rentals a steady stream of revenue. Alta Equipment made a strategic move by reducing its fleet, underscoring that volume growth isn't always organic; sometimes, a disciplined capital rotation can lead to a reduced supply. During peak seasons, short-term users opt for damage waivers at a high rate, while mid-term clients prefer a bundled service that integrates insurance into their monthly billing.

Complete Report Scope:

• By Load Capacity
  • Less than 3.5 T
  • 3.6 to 10 T
  • More than 10 T
• By Rental Duration
  • Short-term/Spot (Less than 1 month)
  • Mid-term (1 to 12 months)
  • Long-term Lease (3 to 5 years)
• By Power Source
  • Electric
  • Internal Combustion (Diesel/LPG)
  • Hybrid
• By Truck Class
  • Class I
  • Class II
  • Class III
  • Class IV
  • Class V
• By End-use Industry
  • Warehousing and Logistics
  • Construction
  • Automotive
  • Food and Beverage
  • Aerospace and Defense
  • Others (Retail, Pharma, etc.)
• By Region (U.S.)
  • Northeast
  • Midwest
  • South
  • West

List of Companies Covered in this Report:

1. United Rentals
2. Sunbelt Rentals (Ashtead Group)
3. Herc Rentals
4. Toyota Material Handling USA
5. Crown Equipment Corp.
6. Raymond Corporation
7. Hyster-Yale Group
8. Komatsu Forklift USA
9. Mitsubishi Logisnext Americas
10. CLARK Material Handling
11. Doosan Industrial Vehicle America
12. Jungheinrich PROFISHARE (rental)
13. Alta Equipment Company
14. Briggs Equipment
15. EquipmentShare
16. BigRentz
17. Home Depot Rental
18. BlueLine Rentals
19. Thompson Lift Truck

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support