Weekly Equipment, Car and Fashion Rental Industry News & Insights

The rental industry is expanding into more regions and markets. The technological advancements in the industry, accompanied by innovative solutions to deliver rental services, have made the industry even more dynamic. At this point, capturing growth in the industry means more than launching and investing in a rental business. It requires founders to keep themselves updated on the changing dynamics, including consumer behavior, advancements, market trends, regulations, and other valuable insights. 

In YoRent’s Weekly Round-Up series, we have decided to bring you the latest insights required to keep you updated about the industry and stay competitive.

1. United Rentals Launches its New Branch in the Netherlands

United Rentals, the world’s largest equipment rental organization expanded its operations in the European market by launching a new branch in the Rotterdam region of the Netherlands. This branch will mainly serve as the main hub for power tools and specialized tools operations.

2. MyCrane Launches a New Aerial Equipment Marketplace

MyCrane, China’s first rental marketplace for cranes has doubled down its offerings by launching a separate marketplace for lifting equipment. As per reports, MyCrane originally has over 1,500 crane vendors and an overall fleet of 12,000 equipment. 

3. Brazilian Car Rental Expo Tastes Success

ABLA Expo, hosted by the Brazilian Car Rental company, is attracting more visitors every day. This is the company’s 19th annual expo and reached a footfall of 2000 visitors this year, making an increase of 750 visitors from last year’s expo.

4. Elevate Luxury Becomes the Largest Car Rental Company in Indiana

Launched just a year ago in the capital Indianapolis, Elevate Luxury scaled quickly to become the state’s largest car rental company. Surprisingly, the owner Jonathan Santiago only launched the company as a side hustle.

5. Global Short-Term Rental Market Projected to Reach $341 Billion in the Next 9 Years

As per the latest report by Dimension Market Research, the global short-term rental market is expected to reach $341.9 by 2033, growing at a compound annual growth rate of 11.2% (2024-2033).

6. Holiday Travel Surges Throughout the US

The Holiday season is approaching, catapulting growth in several markets. One of them is holiday car rental. According to AAA and Hertz, millions of families have planned trips and booked rental cars in advance.

7. UAE Truck Leasing Market Poised for Growth

In the truck rental industry, the UAE market is stepping up. With a projected growth rate of 9.44%, the UAE market is expected to reach $1.72 billion by the year 2029. 

8. Flexible Pricing Models Increasing Revenue for Bike and Scooter Rental 

Bike and scooter rentals are popular at tourist destinations. With businesses offering flexible pricing to stay competitive and fulfill the requirement of various customers, the industry has gained discernible speed. These pricing models include Pay-as-you-Go and rental subscription. 

For more insights into rental markets and business models, check out our other blogs.