Construction, industrial rental penetration hits record high
Standard crawler dozers daily rental rates up 35% QoQ
The U.S. construction and industrial equipment rental market continued its upward trend in the first quarter of 2025, with rental penetration reaching a record high of 57%, surpassing pre-pandemic levels.
Rental rates remained mostly stable across equipment categories, with notable rate increases largely tied to reclassifications on major peer-to-peer platforms rather than true market demand shifts, according to equipment market research firm EquipmentWatch‘s Quarterly Rental Rate Report. Among standout changes, rates for I.C. pneumatic tire lift trucks surged, with daily, weekly, and monthly rates rising by 90.3% quarter over quarter, 103.3% QoQ, and 113.2% QoQ, respectively.
Standard crawler dozers also saw significant increases, with daily rates up 35% QoQ, weekly rates up 29.5% QoQ, and monthly rates up 27.5% QoQ, according to the release. These changes were similarly attributed to classification adjustments.
The report included data from 493 rental companies and covered 264 equipment types across 3.3 million rates, according to the report. Regional analysis showed the strongest QoQ rental rate growth in Alaska, up 32.3%, California and surrounding states, up 26.5%, and the Midwest and South, all up more than 14%.
The third annual Equipment Finance Connect at the JW Marriott Nashville on May 14-15, 2025, is the only event for both equipment dealers and finance providers. Learn more and register here.
Proud Member Of
Check Out Our Industry Event
