Procurement Market Intelligence Report
Industrial Truck Rental
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Industrial Truck Rental Global Overview
Definition
Summary
Industrial trucks are nonroad-going vehicles used for material handling and include nonmotorized and motorized equipment, such as carts, dollies, hand trucks, pallet trucks, pushcarts, wheelbarrows, creepers, wagons, tilt trucks, shelf trolleys, power buggies, tuggers, platform trucks, and electric tow tractors. The primary types of renters of industrial trucks are contractors, manufacturers, third-party logistics providers, supermarkets, grocery stores, and wholesalers.
This Report Includes:
- Industrial Pallet Truck Rental
- Industrial Wheelbarrow Rental
Not in this Report:
- Stackers
- Forklifts
Global Industrial Truck Rental Procurement Trends
Discover the top international trends affecting procurement in the global Industrial Truck Rental market.
Warning Trends
Tariffs to negatively impact the industrial manufacturing and processing machinery sector
- The United States imposed a blanket 10.0% tariff on all US imports of foreign goods. US imports from China will now face a base tariff of 30.0%, down from 145.0%, after the agreement reached on May 12th, and goods imported from Canada and Mexico that are not compliant with the US-Mexico-Canada Agreement (USMCA) will be subject to a 25.0% tariff.
- The United States raised the tariff rate on steel and aluminum imports to 25.0%, and this is expected to increase the cost of manufacturing industrial machinery as raw material costs increase. As many raw materials and industrial machinery components, such as fittings, bearings, springs, nuts, gears, hydraulic systems, control modules, or bolts, are made from steel or heavily sourced from China, suppliers will be forced to raise the price of machinery to offset cost increases and maintain profit margins.
- China, Mexico, and Japan are three of the top sources of US imports of machinery, accounting for around 50.0% of US imports. While as of April 9, the reciprocal tariff of 24.0% on Japan will be paused, the Japanese machinery sector could face increased financial risk as it is heavily dependent on the US market for exports (US machinery imports from Japan account for nearly 25.0% of its total exports in value, according to Oxford Economics).
- According to the Association of Equipment Manufacturers, the increase in tariff rates on steel and aluminum in 2018 led to a 78.0% increase in domestic equipment production costs. In addition, retaliatory tariffs on machinery exports can contribute to disruptions in the domestic industry as the price of US manufacturers’ exports to China rises, making them less attractive to foreign buyers.
- Suppliers that source machinery or parts from tariff-affected countries may see supply chain disruptions or extended lead times as they seek alternative suppliers to mitigate tariff impacts. In addition, buyers seeking to rent industrial machinery will likely see higher rental rates as dealers pass on higher costs and possibly limited available units if supply chain issues occur.
Global Industrial Truck Rental Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1India | 7,070 |
| #2Oceania & Southeast Asia | 4,940 |
| #3Africa & Middle East | 3,360 |
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Geography Drilldown - US
Average Cost of Industrial Truck Rental
United States
2025 Market Pricing$30.00 to $X,XXX.XX
per unit per weekAverage Price
Prices in the Industrial Truck Rental market range from $30.00 to $X,XXX.XX, depending on Equipment Type, Rental Duration, Rental Location and Season. For example, lower prices are associated with Hand-pushed units ($50.00 to $200 per day; $200 to $800 per week), whereas higher prices are associated with Motor-powered units ($150 to $500 per day; $600 to $2,000 per week).
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Industrial Truck Rental Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Industrial Truck Rental market, prices in the US have grown 0.6% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
0.6%
Compound Annual Growth RateUnited States (2025-2028)
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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 Industrial Truck Rental
Total cost of ownership is Low in the Industrial Truck 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 Hidden Fees may raise the total cost of ownership unexpectedly.
Billed During
Warranties
Unforeseen
Hidden Fees
Buyer Power in Procurement Negotiations
In 2025, buyer power amounts to 0.2 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Recent Price Volatility. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
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- 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 High, 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 Manufacturers
- Truck & Bus Manufacturers
- Fuel Dealers
2nd
Tier Suppliers
- Steel Rolling & Drawing Firms
- Metal Stamping & Forging Firms
- Automobile Engine & Parts Manufacturers
- Oil Drilling & Gas Extractors
Biggest Industrial Truck Rental Suppliers in the US by Revenue
The largest Industrial Truck Rental vendors by revenue in the US are Toyota Material Handling USA Inc., Sunbelt Rentals Exchange Inc. and Bigrentz, 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 |
|---|---|---|---|---|---|---|---|---|
| Mitsubishi Logisnext Co. Ltd. | Global | Nagaokakyo, JP | >10,001 | 10-15 | ||||
| Ryder System, Inc. | Global | MIAMI, FL | >10,000 | 10-15 | ||||
| Herc Holdings Inc. | International | BONITA SPRINGS | 1,001-10,000 | 10-15 | ||||
| Toyota Material Handling USA Inc. | US | 10-15 | ||||||
| Sunbelt Rentals Exchange Inc. | US | 10-15 | ||||||
| Bigrentz, Inc | National | Irvine, CA | 101-250 | 10-15 | ||||
| Ahern Rentals Inc. | National | Las Vegas, NV | 1,001-10,000 | 10-15 | ||||
| United Rentals, Inc. | International | STAMFORD, CT | >10,000 | 15-20 | ||||
| H&E Equipment Services, Inc. | National | BATON ROUGE | 1,001-10,000 | 5-10 | ||||
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Profit Analysis
The average profit margin across vendors in the Industrial Truck Rental market is 16.4% and falling. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Purchases. The cost trend for this component is falling, when considering movement between 2024 and 2025. To understand cost forecasts for 2026 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
Average vendor risk is moderate, thereby increasing the likelihood that suppliers will suddenly exit the market and somewhat hampering buyer power.
Market share concentration among industrial truck rental suppliers is considered moderate, additionally due to barriers to entry in this market being moderate. Furthermore, capital intensity is elevated in this market and raises startup costs for suppliers, contributing to moderate barriers to entry.
Industrial truck rental services have a high level of supply chain risk, thus hampering buyer power. The sudden shifts in both demand and supply for commodities such as steel and aluminum have added to supply chain risk.
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
Ahern Rentals Inc.
Ahern Rentals Inc. is a private company operating nationally in the real estate and rental and 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
Bigrentz, Inc
Bigrentz, Inc. is a private company operating nationally in the real estate and rental and leasing sector. The company's offerings include aerial lift rental, industrial truck rental and portable lighting equipment rental. Founded in 2012, the company is currently headquartered in Irvine, California, United... Subscribe to learn more
Sunbelt Rentals Exchange Inc.
Sunbelt Rentals Exchange Inc. is a private company operating in the construction and real estate and rental and leasing sectors. The company's offerings include industrial truck rental, scaffolding services and portable lighting equipment rental. Founded in 2013, the company is currently headquartered in... Subscribe to learn more
Toyota Material Handling USA Inc.
Toyota Material Handling USA Inc. is a private company operating in the manufacturing and real estate and rental and leasing sectors. The company's offerings include industrial truck rental. Founded in 2019, the company is currently headquartered in United States of America. 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
Ryder System, Inc.
Ryder System, Inc. is a public company operating globally in the real estate and rental and leasing, professional, scientific and technical services, healthcare and social assistance and other services (except public administration) sectors. The company's offerings include truck trailer leasing, vehicle rental,... Subscribe to learn more
Mitsubishi Logisnext Co. Ltd.
Mitsubishi Logisnext Co. Ltd. is a public company operating globally in the real estate and rental and leasing and other services (except public administration) sectors. The company's offerings include industrial truck rental and material-handling equipment maintenance services. Founded in 1937, the company... Subscribe to learn more
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
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
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Procurement Management KPIs for the Industrial Truck Rental Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Customer Acquisition Cost and Customer Satisfaction (CSAT). Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Quality and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Customer Acquisition Cost | Total marketing costs Total sales cost Number of customers acquired | Determining how much it costs to establish a customer relationship is essential in negotiation and price planning for industrial truck rental. Using customer acquisition costs can be used to determine the efficiency of the customer acquisition process. This is beneficial for buyers to know to determine if acquisition costs contribute to high rental prices. | |
| Customer Satisfaction (CSAT) | Number of positive customer responses Number of customer responses | Overall customer satisfaction with a vendor is indicative of how cooperative and sympathetic they are to customer needs. Positive customer satisfaction shows that the vendor cares for customer success rates with using their industrial truck rental services. | |
Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Experience and Expertise
How long have you been in business? How long have you been serving customers in my industry?
Are you a member of any trade groups specific to my industry? If so, which groups?
Customer Service
Who will be my point-of-contact person at your company, and what is their role?
Will my contact have the ability to make immediate changes to the rental policy if I am unhappy with it? How can I get in touch with the point-of-contact person to make such changes?
Product Lines
What is the average age of your industrial trucks and of your fleet overall?
Has the makeup of your industrial truck fleet changed in recent years? How and why?
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Industrial Truck Rental RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe their organizations and explain why they are seeking industrial trucks.
Buyers need to give a description of the goods that need handling. This overview should give vendors enough information to quickly evaluate whether they can provide industrial trucks that can transport the anticipated amount of cargo efficiently enough.
Statement Of Need
Buyers must describe the intended application of the industrial trucks, the number of units desired, and the rental length.
Buyers should also include if any related goods, such as delivery services, are desired.
Project Budget
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
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