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2024 U.S. Industry Statistics & Market Forecast - Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing
Market Size & Industry Statistics
The total U.S. industry market size for Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing industry include:- Shift towards sustainable and green construction equipment
- Increased adoption of telematics and IoT technologies
- Growth in infrastructure projects globally
- Rise in cost of new machinery driving rental demand
- Stringent emissions regulations
- Expansion of mining activities in developing regions
- Increased demand for customizable and flexible rental agreements
- Shift towards automation and remote operation technologies
- Impact of economic fluctuations on rental rates
- Growth in urbanization and demand for residential projects
- Challenges in maintaining and servicing a diverse equipment fleet
- Adoption of advanced materials and technologies to extend machinery lifespan
- Influence of global trade policies on equipment availability and cost
Product & Services Breakdown
Research products and services in the Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Rental And Leasing Of Agricultural, Construction, Mining, And Forestry Machinery And Equipment (Without Operators) |
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Rental And Leasing Of Other Commercial And Industrial Machinery And Equipment (Without Operators) |
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Rental And Leasing Of Industrial Pumps |
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Rental And Leasing Of Industrial Energy And Power-Generating Equipment |
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Rental And Leasing Of Other Industrial And Commercial Equipment, Not Elsewhere Specified |
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Commercial And Industrial Equipment Rental And Leasing Related Services |
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Delivery/Pick-Up Services For Machinery And Equipment |
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Maintenance And Repair Services For Commercial And Industrial Machinery And Equipment |
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Reselling Services For Merchandise, Retail |
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Other Services |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
|
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 8% | Order at top of page |
||
| Top Executives | 6% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 6% | |||
| General and Operations Managers | 6% | |||
| Sales and Related Occupations | 26% | |||
| Retail Sales Workers | 18% | |||
| Counter and Rental Clerks and Parts Salespersons | 17% | |||
| Counter and Rental Clerks | 16% | |||
| Office and Administrative Support Occupations | 12% | |||
| Installation, Maintenance, and Repair Occupations | 16% | |||
| Vehicle and Mobile Equipment Mechanics, Installers, and Repairers | 9% | |||
| Transportation and Material Moving Occupations | 26% | |||
| Motor Vehicle Operators | 11% | |||
| Driver/Sales Workers and Truck Drivers | 10% | |||
| Material Moving Workers | 12% | |||
| Laborers and Material Movers | 11% | |||
| Laborers and Freight, Stock, and Material Movers, Hand | 6% | |||
Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing industry. |
Source:
Innovation News
- Dec 31, 2023: Big Equipment trademarks "BIG BUD" - Tractors
- Dec 30, 2023: Power Line Rent-E-Quip trademarks "POWER LINE RENT-E-QUIP" - PLREI provides sales and rentals of Aerial Bucket, Crane, Sign and Forestry Tree Trucks
- Oct 27, 2023: Bigrentz trademarks "BIGRENTZ" - Rental of construction and building equipment; rental of material handling equipment
- Jul 20, 2023: Herc Rentals patents System, Method, And Program For Controlling Access To A Machine Or Equipment
- Jul 20, 2023: Herc Rentals patents System, Method, And Program For Controlling Access To A Machine Or Equipment
- Dec 10, 2020: Quick Headers patents Extendable Beam With Slots
Recent Federal Contracts for Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing
- Apr 02, 2024: SUTTER EQUIPMENT CO INC (Mound House, NV) awarded $25,250
- Apr 02, 2024: 4 RIVERS EQUIPMENT LLC (Albuquerque, NM) awarded $47,800
- Mar 26, 2024: AXSUS ENTERPRISES LLC (Newport, WA) awarded $20,000
- Mar 26, 2024: SKO ENTERPRISES INC (Salt Lake City, UT) awarded $27,900
- Mar 26, 2024: CLASSIC INTERNATIONAL (Islamabad, ISLAMABAD) awarded $20,479
- Mar 21, 2024: TRI-STATE TRUCK & EQUIPMENT, INC. (Billings, MT) awarded $42,000
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