GCC Equipment Rental Market Size By Equipment Type (Power Generation, Temporary Buildings, Hoist & Access), By End-Users (Utilities, Events, Manufacturing), By Geographic Scope And Forecast

GCC Equipment Rental Market Size And Forecast

GCC Equipment Rental Market size was valued at USD 2474.6 Million in 2024 and is projected to reach USD 3989.01 Million by 2031, growing at a CAGR of 6.15% from 2024 to 2031.

The GCC Equipment Rental Market has experienced significant growth in recent years, driven by infrastructure development, construction projects, and increased demand for various types of equipment across industries. The GCC Equipment Rental Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

GCC Equipment Rental Market Definition

Equipment rental can be a cost-effective and practical solution for individuals and businesses that require specific equipment for short-term needs, as it eliminates the upfront investment and ongoing maintenance associated with equipment ownership. It also allows for flexibility and access to a wide range of specialized tools and machinery. The equipment rental industry benefits a wide range of industries including oil & gas, construction & infrastructure, events, manufacturing & logistics, retail & commercial, marine & ports, defense & military, and medical.

The Middle East’s rental market is expanding quickly in a variety of sectors, mostly as a result of the region’s growing number of projects. With that demand, industry professional has noticed a growing trend where contractors and other end users are choosing to rent their equipment more frequently. This is primarily because renting has a wide range of advantages and savings, including the capital costs of purchase, repairs, and maintenance, in addition to the desire to have the most recent equipment and technology.

Due to the closure of production facilities and the cessation of investments in the infrastructure sector, the COVID-19 pandemic hampered the growth of the machinery and equipment market throughout the GCC region. Nevertheless, the industry is anticipated to pick up steam during the projection period as economic activity picked up after the epidemic. The expanding construction sector, rising demand for cranes, and emerging trends in automation and telematics are the main long-term market development drivers. Due to efforts to reduce equipment purchase and maintenance costs, the renting or leasing of construction equipment has increased.

GCC Equipment Rental Market Overview

The Equipment Rental Market in the GCC (Gulf Cooperation Council) region, includes countries like Saudi Arabia, the United Arab Emirates (UAE), Qatar, Kuwait, Oman, and Bahrain. The GCC Equipment Rental Market has experienced significant growth in recent years, driven by infrastructure development, construction projects, and increased demand for various types of equipment across industries. The construction industry is a major driver of the equipment rental market in the GCC region. The region has been witnessing extensive construction projects, including commercial and residential developments, infrastructure projects (roads, airports, ports), and megaprojects FIFA World Cup 2022 in Qatar.

In the Kingdom of Saudi Arabia (KSA), “Giga projects like NEOM and The Red Sea Developments are driving the construction market, while in other geographies witnessing upcoming massive infrastructure and construction projects like roads, hotels, and stadiums. Furthermore, Qatar National Vision 2030 will also be one of the highly contributing factors to the growth of the construction and infrastructure industry in the country. Moreover, UAE has seen astounding year-over-year (YoY) growth with project announcements totaling USD 13.41 billion compared to USD 5.72 billion in the same quarter last year. Despite the difficulties caused by the pandemic, the UAE’s building sector is enjoying an amazing upswing.

Due to this exceptional growth and substantial project awards, the UAE has once again cemented its place as a major worldwide construction powerhouse. The GCC’s oil and gas sector also contributes to the demand for equipment rentals, particularly for specialized equipment used in drilling, exploration, and oilfield services. Business is being driven by the expanding oil and gas sector, particularly in the UAE, where the government is concentrating on developing sour gas resources to meet rising domestic demand. Sour gas is defined as natural gas or any other gas that contains significantly more hydrogen sulphide (H2S).

GCC Equipment Rental MarketSegmentation Analysis

The GCC Equipment Rental Market is segmented on the basis of Equipment Type, End-Users, and Geography.

GCC Equipment Rental Market, By Equipment Type

• Power Generation
• Temporary Buildings
• Hoist & Access
• Air & Steam
• Cargo Containers
• Climate Control
• Mobile Lighting
• Welding Machines
• Material Handling

To Get a Summarized Market Report By Equipment Type-

Based on Equipment Type, the market is segmented into Power Generation, Temporary Buildings, Hoist & Access, Air & Steam, Cargo Containers, Climate Control, Mobile Lighting, Welding Machines, and Material Handling. Material Handling accounted for the largest market share of 33.76% in 2022, with a market value of USD 2,331.23 Million, and is projected to grow at the highest CAGR of 6.89% during the forecast period.

GCC Equipment Rental Market, By End-Users

• Oil & Gas
• Utilities
• Events
• Manufacturing
• Mining
• Construction
• Others

Based on End-Users, the market is segmented into Oil & Gas, Utilities, Events, Manufacturing, Mining, Construction, and Others. Construction accounted for the largest market share of 39.40% in 2022, with a market value of USD 2,720.92 Million, and is projected to grow at the highest CAGR of 7.10% during the forecast period.

GCC Equipment Rental Market, By Geography

• Saudi Arabia
• UAE
• Oman
• Bahrain
• Rest of GCC

To Get a Summarized Market Report By Geography-

On the basis of Regional Analysis, the GCC Equipment Rental Market is classified into Saudi Arabia, UAE, Oman, Bahrain, and the Rest of GCC. Saudi Arabia accounted for the largest market share of 45.82% in 2022, with a market value of USD 3,163.98 Million, and is projected to grow at the highest CAGR of 7.00% during the forecast period.

Key Players

The “GCC Equipment Rental Market” study report will provide valuable insight with an emphasis on the market. The major players in the market include Aggreko Plc, Access Group Pty Ltd, Al Faris Equipment Rental LLC, APR Energy Limited, Atlas Copco Group, Byrne Equipment Rental LLC, Caterpillar, Cummins, Dayim Rentals, Energia Model General Contracting Company, Energy Equipment Rental Co. Ltd. (ENERCO), GAM Rentals, Generac Power Systems, Kanoo Machinery, Peax, Rental Solutions & Services, SDMO Industries, AJI Heavy Equipment Rental (ALEC) ,United Gulf, Blue Fin Heavy Equipment Rental,  Bin Quraya Group.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Report Scope

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any  please connect with our sales team, who will ensure that your requirements are met.