Got News to Share? Send 2 FREE Releases ↓ News Search | All News Topics > Shipping & Logistics News Topics: By Country | By State ; Press Releases by Industry Channel > All Shipping & Logistics Press Releases 
Forklift Rental Market Is Expected To Accelerate At A 4.7% CAGR, Reaching US$ 16.3 Billion by 2033 | Fact.MR Report
Growing Demand for Forklifts in the E-commerce Era Drives Rental Market Growth
/EIN News/ — Rockville, July 12, 2023 (GLOBE NEWSWIRE) — The global forklift rental market is estimated at US$ 10.3 billion in 2023 and is expected to expand at a CAGR of 4.7% during the forecast years of 2023-2033.
Industries like warehousing, logistics, manufacturing, and construction rely on forklifts for their operations. Renting offers access to specialized forklift models tailored to specific requirements, such as rough-terrain or narrow-aisle forklifts.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8643
Further, the rise of e-commerce and the need for efficient warehouse management have led to an increased demand for forklifts. Rental options provide flexibility to e-commerce businesses dealing with seasonal peaks and fluctuating order volumes.
Increasing awareness of environmental sustainability and carbon emissions reduction has boosted the demand for electric forklifts. They offer eco-friendly and cost-cutting solutions, aligning with the industry's shift towards sustainable practices. The aforementioned factors are likely to drive the forklift rental market during the forecast period.
Key Takeaways from Market Study
- The global forklift rental market is projected to expand at a CAGR of 4.7% and be valued at US$ 16.3 billion by 2033
- The market witnessed a CAGR of 4.9% for the period of 2018-2022
- Under the power source segment, electric forklifts dominate the market with a 69.1% market share in 2023
- United States dominated the market with a 24.7% market share in 2023
- Based on country, the United States and China forklift rental market is expected to increase at CAGRs of 4.9% and 5.0%
“Forklift Rental services are a Key Component for the Expanding Logistics Sector” says a Fact.MR analyst.
Key Companies Profiled In This Report
- BigRentz
- BlueLine Rental
- Sunbelt Rentals
- The Home Depot Rental
- United Rentals
Market Development
Rental service providers are entering into strategic partnerships or acquiring other companies to strengthen their market position and expand their customer base. These partnerships include collaborations with manufacturers to gain exclusive access to new forklift models or strategic alliances with logistics companies to provide integrated material handling solutions. Acquisitions allow rental providers to quickly gain market share and access new regions or market segments.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8643
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global forklift rental, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of operation (class 1, class 2, class 3, class 4, class 5, class 6, class 7), operating capacity (below 3.5 tons, 3.5-7 tons, 7-10 tons, above 10 tons), power source (electric, diesel, gasoline / lpg / cng), end use sector (retail / contracting, logistics, industrial & manufacturing, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania and the Middle East & Africa).
Explore More Related Studies Published by Fact.MR Research:
Log Splitter Rental Market: The log splitter rental market is expected to grow from US$ 355.3 million in 2023 to US$ 546.5 million in 2033 at a rate of 4.4%.
Concrete Grinder Rental Market: The concrete grinder rental market is expected to grow from US$ 103.3 million in 2023 to US$ 147.1 million in 2033 at a rate of 3.6%.
Stump Grinder Rental Market: The market is expected to reach a valuation of US$ 178.0 million in 2033.
Skid Steer Rental Market: The market is expected to reach a valuation of US$ 1,112.3 million in 2033.
About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Shubham Patidar
Email: shubham@factmr.com
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
Powered by 
Distribution channels: Business & Economy
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
