Forklift Rental Global Market Report 2026

Forklift rental refers to the process of temporarily obtaining a forklift for a specific period, such as days, weeks, or months, from a rental company instead of purchasing the equipment. This arrangement is suitable for businesses seeking flexibility, meeting short-term, seasonal, or backup requirements, and avoiding the substantial initial investment and maintenance expenses linked with forklift ownership.

The primary equipment in forklift rental includes electric forklifts, internal combustion engine forklifts, warehouse forklifts, and heavy-duty forklifts. Electric forklifts are battery-operated industrial vehicles powered by electric motors and onboard energy sources such as lithium-ion or lead-acid batteries, enabling them to lift and transport loads with minimal noise and zero tailpipe emissions, making them appropriate for enclosed environments and precision operations. Rental durations are categorized as short-term and long-term, while load capacities range from below 3 tons, 3 to 5 tons, 5 to 10 tons, and above 10 tons. Forklifts are used for indoor and outdoor applications, heavy lifting, material handling, logistics, and transportation across various end-user industries, including construction, automotive, e-commerce, food and beverage, pharmaceuticals, chemicals, aerospace and defense, warehouse and logistics, retail, and manufacturing.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the forklift rental market by increasing acquisition and maintenance costs for rental fleets due to higher prices of imported forklifts, batteries, drivetrain components, and electronic control systems. North America and Europe are most affected as rental companies rely heavily on imported electric and internal combustion forklifts from Asia. These higher costs are being partially passed on to end users through rental pricing, affecting logistics, construction, and manufacturing segments. At the same time, tariffs are encouraging local forklift assembly, extended equipment lifecycle management, and greater adoption of domestically produced models within rental fleets.

The forklift rental market research report is one of a series of new reports from The Business Research Company that provides forklift rental market statistics, including forklift rental industry global market size, regional shares, competitors with a forklift rental market share, detailed forklift rental market segments, market trends and opportunities, and any further data you may need to thrive in the forklift rental industry. This forklift rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The forklift rental market size has grown strongly in recent years. It will grow from $6.68 billion in 2025 to $7.25 billion in 2026 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to expansion of warehousing and logistics activities, growth of e-commerce fulfillment centers, rising capital cost of equipment ownership, demand for operational flexibility, increasing use of forklifts in construction.

The forklift rental market size is expected to see strong growth in the next few years. It will grow to $9.93 billion in 2030 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing adoption of electric material handling equipment, rising demand for short-term logistics solutions, expansion of automated warehouses, growth in cold storage facilities, increasing focus on emission reduction. Major trends in the forecast period include growing preference for rental over ownership, increasing demand for electric forklift rentals, expansion of flexible short-term rental models, rising use in seasonal and peak operations, growing fleet modernization by rental providers.

The increasing growth of the electronic commerce industry is expected to drive the growth of the forklift rental market going forward. The electronic commerce industry refers to the ecosystem of businesses, technologies, and processes that enable the buying, selling, and delivery of goods and services through the Internet and other electronic networks. The rise of electronic commerce is primarily attributed to the expansion of mobile commerce. Forklift rental supports the development of the electronic commerce industry by providing scalable and cost-efficient material handling solutions that ensure faster and more flexible warehouse and distribution operations. For example, in February 2024, according to the Census Bureau, a US-based government agency, fourth-quarter 2023 e-commerce sales reached $324.8 billion, an increase of 19.5% from the previous quarter and 7.2% year over year, accounting for 17.1% of total retail sales. Therefore, the increasing growth of the electronic commerce industry is fueling the growth of the forklift rental market.

Key companies operating in the forklift rental market are focusing on developing subscription rental models to provide flexible and cost-effective access to intralogistics equipment. A subscription rental model is a business framework where customers pay a recurring fee, usually monthly, to access and use a product or equipment instead of purchasing it or committing to a long-term lease. For example, in December 2024, Jungheinrich, a Germany-based intralogistics company, introduced the first forklift subscription service in intralogistics. The program enables customers to rent from 13 different forklift types powered by lithium-ion or lead-acid batteries under a cancellable contract after 12 months. It includes complete maintenance, servicing, and machine breakage coverage, along with access to the Jungheinrich FMS fleet management system. Initially launched in Spain, the service expanded to Germany and Ireland in 2024, marking the first forklift subscription model in intralogistics aimed at balancing cost efficiency with operational flexibility.

In June 2025, Herc Holdings, a US-based equipment rental company, acquired H&E Equipment Services for an undisclosed amount. This acquisition expanded Herc's network to 613 locations across North America, with pro forma 2024 total revenues reaching $5.1 billion. The combined organization now operates in 11 of the top 20 rental regions, offering a broader range of specialty and general rental products. Herc expects to achieve substantial growth and value creation opportunities through this strategic consolidation. H&E Equipment Services is a US-based company providing forklift rental services.

Major companies operating in the forklift rental market are United Rentals Incorporated, Herc Rentals Incorporated, Sunbelt Rentals Incorporated, H and E Equipment Services Incorporated, Alta Equipment Group Incorporated, EquipmentShare Incorporated, Briggs Equipment Incorporated, Speedy Hire Limited, Loxam Group S.A., Boels Rental N.V., Aggreko Industrial Services Limited, NES Rentals Incorporated, Ahern Rentals Incorporated, Banner Equipment Company, GAP Group Limited, Mather and Stuart Limited, MH Equipment Rental Division Incorporated, Stephensons Rental Services Limited, TVH Rental Services Incorporated, BigRentz Incorporated

North America was the largest region in the forklift rental market in 2025 Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the forklift rental market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the forklift rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The forklift rental market includes revenues earned by entities by providing services such as short-term and long-term equipment leasing, maintenance, and on-site support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Forklift Rental Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses forklift rental market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for forklift rental ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The forklift rental market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Equipment Type: Electric Forklifts; Internal Combustion Engine Forklifts; Warehouse Forklifts; Heavy-Duty Forklifts
• 2) By Rental Duration: Short-Term Rentals; Long-Term Rentals
• 3) By Load Capacity: Below 3 Tons; 3-5 Tons; 5-10 Tons; Above 10 Tons
• 4) By Application: Indoor Applications; Outdoor Applications; Heavy Lifting; Material Handling; Logistics And Transportation
• 5) By End Use Industry: Construction; Automotive; E-Commerce; Food And Beverage; Pharmaceuticals; Chemicals; Aerospace And Defense; Warehouse And Logistics; Retail; Manufacturing
• Subsegments:
• 1) By Electric Forklifts: Three-Wheel Electric Counterbalance; Four-Wheel Electric Counterbalance; Lithium Ion Electric Counterbalance; Electric Reach Trucks; Electric Order Pickers; Electric Pallet Trucks; Electric Pallet Stackers; Electric Tow Tractors
• 2) By Internal Combustion Engine Forklifts: Diesel Counterbalance Forklifts; Gasoline Counterbalance Forklifts; Liquefied Petroleum Gas Counterbalance Forklifts; Compressed Natural Gas Counterbalance Forklifts; Rough Terrain Counterbalance Forklifts; High-Capacity Internal Combustion Forklifts
• 3) By Warehouse Forklifts: Reach Trucks; Order Picker Trucks; Pallet Trucks; Pallet Stackers; Very Narrow Aisle Turret Trucks; Narrow Aisle Articulated Forklifts; Walk-Behind Stackers; Tow Tractors
• 4) By Heavy-Duty Forklifts: High-Capacity Cushion Tire Forklifts; High-Capacity Pneumatic Tire Forklifts; Rough Terrain Forklifts; Container Handling Forklifts; Port And Terminal Forklifts; Telescopic Handler Forklifts; Lumber Yard Forklifts; Paper Roll Handling Forklifts
• Companies Mentioned: United Rentals Incorporated; Herc Rentals Incorporated; Sunbelt Rentals Incorporated; H and E Equipment Services Incorporated; Alta Equipment Group Incorporated; EquipmentShare Incorporated; Briggs Equipment Incorporated; Speedy Hire Limited; Loxam Group S.A.; Boels Rental N.V.; Aggreko Industrial Services Limited; NES Rentals Incorporated; Ahern Rentals Incorporated; Banner Equipment Company; GAP Group Limited; Mather and Stuart Limited; MH Equipment Rental Division Incorporated; Stephensons Rental Services Limited; TVH Rental Services Incorporated; BigRentz Incorporated
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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