Global Rental Industry Insights and Evolving Trends 2025

The rental industry is undergoing a profound transformation, with market dynamics shifting in response to digital transformation, changing consumer preferences, and sustainability imperatives. From equipment and vehicle rental to fashion and furniture leasing, businesses are adapting to new trends and expanding their market reach. 

That is why businesses across these sectors are rethinking traditional ownership models—driving increased demand for flexible, on-demand rental solutions. And as 2025 unfolds, new opportunities are emerging for rental businesses to innovate and thrive. This article explores the key developments and emerging trends shaping the future of the rental industry.

1. Innovations and Insights for the 2025 ARA Show

The American Rental Association (ARA) hosted its annual trade show, The ARA Show 2025, in Las Vegas from January 30th to February 1st. This year’s event introduced a mid-week schedule to better accommodate attendees, featuring “The Future of Equipment Rentals” workshop focusing on emerging trends, technological advancements, and networking opportunities to drive business growth. 

2. Event Rent: Event Supplies Hire Platform Powered by Yo!Rent

Event Rent, a UK-based event supplies rental company that offers a wide range of event supplies and audio-visual solutions, utilized Yo!Rent to build a digital platform that brings event product rental companies under a single roof. This technological integration has allowed Event Rent to optimize operational costs and provide seamless service to event planners and concierges, ensuring the successful execution of diverse events.

3. Car Subscription Market Poised for Substantial Growth 

The global car subscription market, valued at $8.47 billion in 2024, is set to grow at a CAGR of 28%, reaching an impressive $61.01 billion by 2032. This surge is driven by consumers’ increasing demand for flexible vehicle ownership models and a growing preference for subscription-based services across various sectors, including automotive.

4. Circular Fashion Practices Set to Boost Clothing Rental Trend

Driven by advancements in technology, sustainable fashion practices, and changing consumer attitudes toward ownership, the clothing rental industry is expected to reach $2.63 billion by 2030. The industry is expanding beyond renting occasional luxury wear to include everyday wardrobes, corporate attire, and specialized categories such as maternity wear. Digital platforms play a crucial role in this expansion, offering diverse inventories and personalized experiences to a broad customer base. 

5. Farm Equipment Rental Market on the Rise

The farm equipment rental market, valued at $35.2 billion in 2023, is anticipated to reach $52.93 billion by 2032, with an expected CAGR of 6% during the forecast period. Factors contributing to this growth include the rising costs of purchasing and maintaining agriculture machinery, which pose challenges for smaller farms, and the increasing adoption of precision agriculture requiring advanced, often expensive equipment.