Market Share of Forklift Rental Industry
The forklift rental market is fragmented, with the presence of several domestic and international players operating in the market. Partnerships, mergers, and acquisitions happen in the forklift rental industry. To install the newest features and technologies that will make the vehicle suitable for the needs of customers right now, OEMs are producing white-label vehicles for technology companies. For example,
- In October 2022, H&E Equipment Services Inc. acquired One Source Equipment Rentals Inc. With the completion of the transaction, H&E expanded its branch network by 10 equipment rental locations. These locations include initial locations in Illinois, Indiana, and Kentucky. Furthermore, the company will expand its operational presence in the southern United States while investing approximately USD 138 million in the fleet, as measured by the original equipment cost.
- In June 2022, to assist in the decarbonization of the construction and equipment rental industries, Sunbelt Rentals, a rental company for forklifts, and Britishvolt will collaborate closely to support the development of heavy plant and equipment battery solutions. Britishvolt, a leader in battery technology, has begun a strategic partnership with the largest equipment rental company in the United Kingdom to support the construction of the business's first fully operational 38 GWh battery Gigaplant in Northumberland and to foster "economies of carbon."
Forklift Rental Market Leaders
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Caterpillar Inc
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Crown Equipment Corporation
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Sunbelt Rentals, Inc.
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Toyota Industries Corporation
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Combilift Depot
*Disclaimer: Major Players sorted in no particular order
