Mining Equipment Rental Market To Reach $144.49 Billion By 2030

Mining Equipment Rental Market Growth & Trends

The global mining equipment rental market size is anticipated to reach USD 144.49 billion by 2030, growing at a CAGR of 5.2% from 2025 to 2030, according to a new report by Grand View Research, Inc. The rapid technological progress in mining equipment, including automation, robotics, and digital solutions, has led to the adoption of rental models. Renting provides access to state-of-the-art machinery equipped with advanced features, allowing mining operations to improve efficiency and productivity without the risk of technological obsolescence.

There is a growing emphasis on sustainability and adherence to environmental regulations within the mining industry. Rental companies are investing in eco-friendly and fuel-efficient equipment options, helping mining operations meet their sustainability goals and comply with stringent environmental standards. The mining industry has been under increasing pressure to adopt sustainable practices due to growing environmental concerns and the tightening of regulations. Environmental regulations are becoming more stringent, with governments around the world enforcing stricter guidelines to reduce emissions, minimize ecological impacts, and promote the responsible extraction of natural resources.

Mining companies are increasingly opting for rental solutions to manage operational costs and enhance flexibility. Renting equipment allows them to access the latest machinery without substantial upfront investments, thereby reducing capital expenditures and maintenance costs. This approach enables companies to adapt quickly to changing project requirements and market conditions.

Top market players are focusing on strategies that include enhancing product portfolios, innovative rental models, and forming strategic partnerships to maintain competitive advantages. For instance, in December 2024, Sumitomo Corporation, through its subsidiary Aver Asia, acquired 100% of the shares of PT. Resource Equipment Indonesia (REL), is a company specializing in the rental of large pumps primarily for mining activities in Indonesia.

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Mining Equipment Rental Market Report Highlights

• Based on equipment, the surface mining equipment segment led the market in 2024. The surface mining equipment consists of loaders, excavators, dumpers, motor graders, etc., that are being rented to mining companies. The rising demand for surface mining across the world for minerals and resources is likely to boost the demand for equipment

• Based on power output, the <500 HP segment led the market in 2024 owing to the increasing demand for smaller machinery as the industry shifts toward more efficient, versatile, and cost-effective machinery

• Based on rent type, the long-term segment led the market with a share of 45.9% of market revenue in 2024. The long term renting allows companies to avoid high upfront costs and better manage their cash flow

• Based on application, coal mining segment led the market, accounting for a 40.1% revenue market share in 2024. The coal mining segment is growing with the increasing demand for electricity across the developing economies

• Based on region, the market in Asia Pacific dominated the market in 2024 driven by the increasing demand for mineral and metal mining. For instance, lithium mining is soaring in Asia Pacific driven by increasing demand for electric vehicles, especially in Australia, China, Indonesia, etc.

• In October 2023, Lou-Tec, a rental company based in Quebec, acquired Torcan Lift Equipment, an aerial lift rental company located in Ontario. This acquisition was a strategic move by Lou-Tec to expand its presence in Ontario

Mining Equipment Rental Market Segmentation

Grand View Research has segmented the mining equipment rental market on the basis of equipment, power output, rent type, application, and region:

Mining Equipment Rental Equipment Outlook (Revenue, USD Million, 2018 - 2030)

• Underground Mining Equipment

• Surface Mining Equipment

• Crushing, Pulverizing & Screening Equipment

• Drills & Breakers

• Others

Mining Equipment Rental Power Output Outlook (Revenue, USD Million, 2018 - 2030)

• <500 HP

• 500-2000 HP

• >2000 HP

Mining Equipment Rental Rent Type Outlook (Revenue, USD Million, 2018 - 2030)

• Short-Term

• Long-Term

• Rent-to-Own

Mining Equipment Rental Application Outlook (Revenue, USD Million, 2018 - 2030)

• Metal Mining

• Non-metal Mining

• Coal Mining

Mining Equipment Rental Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

• U.S.

• Canada

• Mexico

• Europe

• Germany

• UK

• Poland

• Finland

• Sweden

• Asia Pacific

• China

• India

• Japan

• South Korea

• Australia

• Latin America

• Brazil

• Argentina

• Middle East & Africa

• Saudi Arabia

• UAE

List of Key Players in the Mining Equipment Rental Market

• United Rentals

• Hertz Equipment Rental

• Caterpillar

• Loxam

• MacAllister Machinery

• Barton & Sons

• Trident Equipment

• Ritchie Bros.

• Epiroc

• Komatsu Rental

• SANY Group

• BOMAG

• Doosan Infracore

• XCMG

• Liebherr