Procurement Market Intelligence Report
Forklift Rental
Sourcing Guide & Market Intelligence
Smarter cost management starts with comprehensive market intelligence
United States
Canada
Europe
Global
Quick Navigation
Forklift Rental Global Overview
Definition
Summary
Forklifts are industrial vehicles with power-operated pronged platforms used to lift or move materials, commonly used in construction, retail, manufacturing and industrial settings. For the purpose of this report, the terms buyers and renters are used interchangeably to refer to any party looking to rent forklifts.
This Report Includes:
- Telescopic Handlers
- Narrow-aisle Forklifts
- Rough-terrain Forklifts
- Warehouse Forklifts
Not in this Report:
- Forklift Purchases
- Heavy Machinery and Equipment Rental
- Cranes
- Aerial Lifts
- Earthmoving Machines
Take the ProcurementIQ products and data tour
Explore live samples of price trend forecasts, price driver projections, forward-looking cost structure data and more.
Global Forklift Rental Procurement Trends
Discover the top international trends affecting procurement in the global Forklift Rental market.
Warning Trends
Tariffs to negatively impact the building and construction machinery sector
- The Trump Administration’s reciprocal tariffs, which apply general tariff rate increases to most countries the United States trades with, are set to take effect on August 7, after the administration finalized the national rates on August 1. As a result, leading sources of imported construction machinery face significantly higher tariff rates, including Japan (15.0%), Mexico (25.0%), South Korea (15.0%), the European Union (15.0%), the United Kingdom (10.0%), China (54.0%), and Canada (35.0%).
- The increase in tariffs on building and construction machinery imported from tariff-impacted countries will add to the price of imports, which are typically passed on to buyers in the form of higher prices. According to The Budget Lab at Yale, the additional tariffs on imports will increase overall prices for machinery and equipment by 13.3%.
- Additionally, the administration has already implemented 50.0% tariffs on all aluminum and steel imported into the United States, with the sole exception of imports from the United Kingdom. These tariffs will increase input costs even for construction machinery suppliers with domestic manufacturing operations.
- According to an April 2025 survey from Construction Equipment Magazine, around half of the respondents reported that the higher tariffs will increase operating costs by up to 15.0%, and more than half said they plan to pass those increases along to buyers.
- As many building and construction machinery brands source parts and components such as steel, engines, and electronics from foreign countries, higher tariff rates will put upward pressure on prices and lead to greater rental rates as manufacturers and dealers pass on costs. In addition, suppliers that source parts from tariff-affected regions may see supply chain disruptions as they seek alternative suppliers to mitigate tariff impacts.
Global Forklift Rental Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 Europe | 8,170 |
| #2 United States | 4,500 |
| #3 Oceania & Southeast Asia | 4,000 |
Explore supplier concentration across the globe
We've uncovered the 11 top regions for global procurement, based on feedback from our most strategic clients. Access vendor counts for each unique region when you subscribe.
Geography Drilldown - US, Canada & Europe
Average Cost of Forklift Rental
United States
2026 Market Pricing$40.00 to $X,XXX.XX
per forklift per weekCanada
Europe
Average Price
Prices in the Forklift Rental market range from $40.00 to $X,XXX.XX, depending on Equipment Type, Load Capacity, Rental Location and Rental Duration. For example, lower prices are associated with Material lifts ($250 to $1,000 per forklift per week), whereas higher prices are associated with Telescopic lifts ($400 to $2,500 per forklift per week) and Rough-terrain lifts ($350 to $2,250 per forklift per week).
Need the scoop on international price trends?
Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Forklift Rental Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Forklift Rental market, prices in the US have grown 2.9% from 2022 to 2025. and +2.4% in Europe.
United States (2022-2025)
Canada (2016-2019)
Compound Annual Growth Rate
Europe (2022-2025)
Compound Annual Growth Rate
Wondering where prices are heading?
Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Forklift Rental
Total cost of ownership is Low in the Forklift Rental market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs. For example, unforeseen costs in the form of Emergencies may raise the total cost of ownership unexpectedly.
Negotiated Before
Transportation
Billed During
Training
Fuel
Unforeseen
Emergencies
Downtime
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to -1.8 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Product Specialization. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Canada
Europe
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as Medium, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Industrial Machinery & Equipment Wholesalers
- Construction & Mining Equipment Wholsalers
- Tire Wholesalers
2nd
Tier Suppliers
- Iron & Steel Manufacturers
- Construction Machinery Manufacturers
- Tire Manufacturers
Biggest Forklift Rental Suppliers in the US by Revenue
The largest Forklift Rental vendors by revenue in the US are Ashtead Group Plc, H&E Equipment Services, Inc. and United Rentals, Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| United Rentals, Inc. | International | STAMFORD, CT | >10,000 | 10-15 | ||||
| Ashtead Group Plc | Global | London, UK | >10,001 | 5-10 | ||||
| H&E Equipment Services, Inc. | National | BATON ROUGE | 1,001-10,000 | 5-10 | ||||
| Sumitomo Corp | Global | Tokyo, JP | >10,001 | < 5 | ||||
| Home Depot, inc. | International | ATLANTA | >10,000 | < 5 | ||||
| Lowes Companies Inc. | International | MOORESVILLE | >10,000 | < 5 | ||||
| Herc Holdings Inc. | International | BONITA SPRINGS | 1,001-10,000 | < 5 | ||||
| Cashman Equipment Co | Regional | Henderson, NV | 501-1,000 | < 5 | ||||
| Quinn Company Inc. | Regional | City of Industry, CA | 1,001-10,000 | < 5 | ||||
Looking for a list of suppliers by country?
Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Forklift Rental market is 15.5% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Overhead. The cost trend for this component is rising, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
There is a moderate level of market share concentration in the market, indicating that no single supplier has dominant pricing power over the market. However, the viability of smaller suppliers may be somewhat reduced.
Profit margins for vendors in the market are high and stable, however some vendors have substantial financial risk caused by the need to make frequent investments in new machinery in order to remain competitive in the market.
Supply chain risk in the market is moderate, primarily as a result of the market's dependence on steel and other metals as inputs, which have been experiencing extremely volatile conditions in the previous three years.
The United States is a net importer of forklift trucks which presents buyers with a wide variety of competitively priced goods that may have unique advancements or capabilities. However, fluctuating trade policies and volatile supply chains within top importing nations such as China may contribute to increased risk when dealing with foreign suppliers.
Supplier Information
United Rentals, Inc.
United Rentals, Inc. is a public company operating internationally in the real estate and rental and leasing sector. The company's offerings include earthmoving machine rental, aerial lift rental, industrial truck rental, tool rental, scaffolding rental. Founded in 1997, the company is currently headquartered... Subscribe to learn more
Ashtead Group Plc
Ashtead Group plc is an international equipment rental company. It operates primarily in the US, Canada, and the UK under the Sunbelt Rentals brand. It rents a full range of construction, industrial, and general equipment across various applications and end markets, including construction, response, facilities... Subscribe to learn more
H&E Equipment Services, Inc.
H&E Equipment Services Inc. is engaged in heavy construction and industrial equipment rental and sale. Its fleet includes a range of battery-powered and hybrid equipment, including scissor lifts, boom lifts, and material handling equipment from nationally recognized equipment suppliers, including JLG Industries,... Subscribe to learn more
Ahern Rentals Inc.
Ahern Rentals Inc. is a private company operating nationally in the real estate & rental & leasing sector. The company's offerings include earthmoving machine rental, aerial lift rental, industrial truck rental, scaffolding rental and forklift rental. Founded in 1953, the company is currently headquartered... Subscribe to learn more
Cashman Equipment Co
Cashman Equipment Co is a private company operating regionally in the real estate & rental & leasing sector. The company's offerings include forklift rental. Founded in 1931, the company is currently headquartered in Henderson, Nevada, United States of America with an estimated 600 employees. Subscribe to learn more
Herc Holdings Inc.
Herc Holdings Inc. is a public company operating internationally in the real estate and rental and leasing sector. The company's offerings include earthmoving machine rental, industrial truck rental, tool rental, portable lighting equipment rental and forklift rental. Founded in 1965, the company is currently... Subscribe to learn more
Home Depot, inc.
Home Depot, Inc. is a home improvement retailer offering building materials, home improvement products, lawn and garden products, décor products, and related services under national and proprietary brands. Its proprietary brands include, among others, HDX®, Husky®, Hampton Bay®, Home Decorators Collection®,... Subscribe to learn more
Lowes Companies Inc.
Lowe's Companies, Inc. is a home improvement retailer for maintenance, repair, remodeling, and decorating markets. Its product portfolio includes appliances, seasonal & outdoor living, lumber, lawn & garden, kitchen & bath, hardware, building materials, millwork, paint, rough plumbing, tools, electrical, Subscribe to learn more
Quinn Company Inc.
Quinn Company Inc. is a private company operating regionally in the real estate & rental & leasing and other services (except public administration) sectors. The company's offerings include forklift rental and material-handling equipment maintenance services. Founded in 1919, the company is currently headquartered... Subscribe to learn more
Accelerate the vendor selection process
Get a clear picture of the competition in a market and discover which vendors are best-suited for your sourcing needs. Our supplier profiles include hard-to-find financial ranges for private companies, cover public company data and feature an interactive competitor matrix.
Procurement Management KPIs for the Forklift Rental Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Customer Complaints and Delivery In Full On Time Rate. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Inspections and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Customer Complaints |
|
Average online customer rating Number of negative reviews per positive review |
A large number of customer complaints signifies a pattern of poor performance from a vendor, rather than an isolated incident of poor service. Customer complaints and reviews are important metrics to consider as these can give an idea to renters about potential disruptions to business operations that can be associated with specific vendors. |
| Delivery In Full On Time Rate |
|
Total number of deliveries Total number of deliveries on time and in full |
A vendor that cannot provide an on-time delivery of the rented forklifts can slow the renter's operations. A low on-time delivery rate can signify that the vendor may have poor internal organization and planning, as consistent late deliveries establishes a pattern of poor supplier performance. |
|
|||
Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Experience and Expertise
Which manufacturer or brand do you have the most experience working with? How does that benefit you and your customers?
How long have you been in business?
Inventory Control
Have you increased the size of your fleet in recent years to keep up with demand?
Is your inventory large enough to support renting during the summer months without a waiting period?
Service & Maintenance
What testing procedures do you perform before renting forklifts out?
Do you have a preventive maintenance program in place?
The ultimate prep for procurement negotations
View all 31 negotiation questions for this category when you subscribe.
Forklift Rental RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should give an overview of their organizations, including industry, number of employees and geographic regions where they operate.
Buyers should describe why they require forklift rental.
Statement Of Need
Buyers should specify the type of forklifts they are seeking.
Buyers should specify the number of forklifts they require.
Project Budget
Buyers should specify the budget range.
Buyers should indicate what add-ons they expect to be included in the bid.
The RFP process made easy
Find out how you can access RFP templates for 800+ procurement categories to start writing better, more consistent RFPs.
We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
