The construction industry is continuously evolving, with construction equipment rental becoming a cornerstone for efficiency and cost optimization. With the revenue expected to soar to $213.68 billion in 2025 and reach a projected peak of $280.13 billion by 2030, the construction equipment rental industry is experiencing an extraordinary growth trajectory.
At the forefront of this expansion, the Concrete & Road Construction Machinery segment is poised to lead the charge, registering the fastest growth among product categories.
With the reliance on short-term rentals and a surge in demand for specialized construction tools and equipment, the industry highlights a lucrative opportunity for businesses to tap into this booming segment. But the actual question is how does one create a marketplace that matches the operational excellence of popular platforms like EquipmentShare.
To answer the question, this blog delves into the strategic and comprehensive roadmap to create a construction equipment rental platform like EquipmentShare.
Founded in 2015, EquipmentShare is an innovative equipment rental marketplace that extends a wide range of construction equipment for short-term rentals. Popular rental equipment includes earthmoving equipment, aerial work platforms, agriculture & landscaping tools, forklifts & material handling, trailers, and more. The platform differentiates itself through its focus on smart technology that enables to track, monitor, and optimize equipment usage while minimizing downtime.
EquipmentShare operates as a Peer-to-Peer sharing business model that allows contractors or equipment owners to list and rent their equipment to others in need. Here’s how the platform works:
EquipmentShare operates on a diversified revenue model that encompasses several robust and well-aligned streams. Below mentioned are its primary revenue streams:
Renting construction equipment is becoming a popular choice for contractors and businesses rather than buying them. Below are some top construction equipment rental marketplaces that are widely trusted among users:
Platform | Launched In | Headquarters | Revenue |
United Rentals | 1997 | Stamford, Connecticut, United States | $15.04 billion |
Sunbelt Rentals | 1983 | Fort Mill, South Carolina, United States | $10.86 billion |
Herc Rentals | 1965 | Estero, Florida | $3.4 billion |
BigRentz | 2012 | BigRentz | $65 million |
Tenderd | 2018 | Dubai, United Arab Emirates | $25 million |
When embarking on the journey to create a construction equipment rental platform like EquipmentShare, businesses have two primary approaches to consider: Custom Development and Readymade Software. Each approach comes with its own set of advantages and considerations, making the choice dependent on the business requirements and resources.
For businesses looking to enter the construction equipment rental market, choosing a readymade construction equipment rental software often proves to be the most practical and efficient approach. This is because:
YoRent is a robust readymade construction equipment rental software designed to build and launch equipment rental marketplaces quickly and cost-effectively. The software is equipped with out-of-the-box rent-centric features, functionalities, and business APIs that automate rental operations with ease. Additionally, the software provides a free demo to test the software before committing. Here are a few benefits of getting Yo!Rent license to create a construction equipment rental marketplace like EquipmentShare:
YoRent is designed meticulously keeping in mind the needs of each stakeholder involved and fulfills all the requirements of a rental business. That is why, the software is popular among various businesses and holds significant importance. Here are a few construction equipment rental platforms powered by YoRent:
For more information on YoRent clients, kindly refer to the clients page.
Creating a construction equipment rental platform like EquipmentShare demands a well-planned strategy to address industry requirements and customer expectations. While custom development provides flexibility, opting for readymade software like Yo!Rent ensures faster deployment, reduced costs, and scalability.
Therefore, by leveraging the right technology, businesses can optimize rental operations, deliver exceptional service, and secure a strong position in the competitive rental market.