European rental market grew by 7.5% in 2022

News Story
- 26 Oct 2023 ( #1151 ) - Brussels, Belgium
1 min read
The 2023 Market Report was prepared in collaboration with S&P Global
The 2023 Market Report was prepared in collaboration with S&P Global

The European equipment rental market grew by 7.5% in 2022, according to the European Rental Association’s (ERA’s) 2023 Market Report.

In the 16 countries covered by the report, total rental turnover was EUR28.9 billion.

Most of the positive growth in 2022 is attributed to increased prices rather than significant improvements in activity.

Of the 16 countries, 14 rental markets grew by more than 5% last year.

The UK, Germany and France remain the largest rental markets in Europe, now accounting for almost 69% of the total market size.

Switzerland posted the slowest growth at 1.2%, while Portugal clocked the highest at 18.2%.

Growth is expected to slow to 2.7% in 2023, to a rental turnover of EUR29.7 billion, as high borrowing costs and inflation continue to bite.

“However, high machinery ‎purchase prices and uncertainty about the economic environment is shifting demand to usership over ‎ownership, so the rental market is expected to outperform the construction sector,” the ERA says in a statement. ‎

“Subdued eurozone economic growth, less favourable financing conditions, reduced business ‎confidence and inflation will also weigh on investment.

“The residential sector will remain the main ‎drag on overall growth, while infrastructure projects supported by the EU’s Recovery and ‎Resilience Fund should support the rental market going forward.

“In the longer term, the diversification of the industry away from construction and investments in green projects will ‎benefit the sector growth.”

The ERA’s Market Report, developed in collaboration with S&P Global, looks at 16 countries that account for more than 95% of the equipment rental industry in the EU, the European Free Trade Association ‎‎(EFTA) and the United Kingdom.

Previously about:
ERA releases carbon emission reporting guidance News Story - 18 Jul 2024 - Brussels, Belgium - 1 min read
ERA to create carbon reporting guidance News Story - 7 Dec 2023 - Brussels, Belgium - 2 min read
ERA joins EU skills pact News Story - 16 Nov 2023 - Brussels, Belgium - 1 min read
Movers & Shakers News Story - 8 May 2025 - 2 min read
ERA releases carbon emission reporting guidance News Story - 18 Jul 2024 - Brussels, Belgium - 1 min read
ERA joins EU skills pact News Story - 16 Nov 2023 - Brussels, Belgium - 1 min read
Do you have materials handling news? Submit your news here

Showcased in the Virtual Expo

⇒ ENRX shows off their ENRMOVE wireless charging for forklifts, AGVs, and AMRs
⇒ CaPow presents their Genesis Power-in-Motion Technology for 100% uptime

Showcasing your videos on our platform is easier than you think! [Reach out to the team] for options and pricing.

Stay on top of the latest product videos with Forkliftaction - just look for our new video icon. 

Words of support …

Thanks to advertising with Forkliftaction, GemOne has experienced a significant enhancement in our online presence. Working with Forkliftaction has enabled us to boost engagement with our targeted audience, resulting in an increase in information requests and downloads of valuable materials from our website. Forkliftaction has consistently delivered outstanding results, helping us to effectively connect with the right audience.

Justine Lootens, CEO

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

⇒ ENRX shows off their ENRMOVE wireless charging for forklifts, AGVs, and AMRs
⇒ CaPow presents their Genesis Power-in-Motion Technology for 100% uptime

Showcasing your videos on our platform is easier than you think! [Reach out to the team] for options and pricing.

Stay on top of the latest product videos with Forkliftaction - just look for our new video icon. 

⇒ ENRX shows off their ENRMOVE wireless charging for forklifts, AGVs, and AMRs
⇒ CaPow presents their Genesis Power-in-Motion Technology for 100% uptime

Showcasing your videos on our platform is easier than you think! [Reach out to the team] for options and pricing.

Stay on top of the latest product videos with Forkliftaction - just look for our new video icon. 

Showcased in the Virtual Expo

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET