Forklift Rental Market Report 2026

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.

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