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Industrial Equipment Rental & Leasing in Canada Industry Data and Analysis
The Canadian industrial equipment rental industry is experiencing growth, driven by increased capital expenditures in the oil and gas sector. Producers are expanding their operations, requiring a range of industrial equipment on a tight timeline, creating opportunities for rental companies to scale up and diversify their offerings. With weather-related disasters driving up demands for emergency response equipment, rental companies' flexibility and ability to mobilize quickly have bolstered industry demand. Overall industry revenue has climbed at a CAGR of 6.0% through the end of 2025, reaching $6.5 billion, including a 0.6% gain in 2025 alone.
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What's included in this industry analysis
IBISWorld's research coverage on the Industrial Equipment Rental & Leasing industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released November 2025.
About this industry
What's this industry report about?
The Industrial Equipment Rental & Leasing industry in Canada operates under the NAICS industry code 53249CA. The Industrial Equipment Rental and Leasing industry in Canada rents and leases a variety of equipment used in manufacturing, metalwork, carpentry, agriculture, telecommunications, healthcare and entertainment operations. The industry also rents pumps, generators and other power equipment. The rental of heavy construction equipment, such as aerial lifts, forklifts, earthmovers and mining machinery, is not included in this industry. Related terms covered in the Industrial Equipment Rental & Leasing industry in Canada include lease, rent and nonemployer.
What's included in this industry?
Products and services covered in Industrial Equipment Rental & Leasing industry in Canada include Industrial equipment, Light construction equipment and Entertainment and audiovisual equipment.
What companies are included in this industry?
Companies covered in the Industrial Equipment Rental & Leasing industry in Canada include United Rentals and Herc Rentals.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Industrial Equipment Rental & Leasing industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Industrial Equipment Rental & Leasing industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Industrial Equipment Rental & Leasing industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Industrial Equipment Rental & Leasing industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Industrial Equipment Rental & Leasing industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Industrial Equipment Rental & Leasing industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Industrial Equipment Rental & Leasing industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Industrial Equipment Rental & Leasing industry in Canada.
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Frequently Asked Questions
What is the market size of the Industrial Equipment Rental & Leasing industry in Canada in 2026?
The market size of the Industrial Equipment Rental & Leasing industry in Canada is $6.5bn in 2026.
How many businesses are there in the Industrial Equipment Rental & Leasing industry in Canada in 2025?
There are 2,398 businesses in the Industrial Equipment Rental & Leasing industry in Canada, which has declined at a CAGR of 0.4 % between 2020 and 2025.
How may import tariffs affect the Industrial Equipment Rental & Leasing industry in Canada?
The Industrial Equipment Rental & Leasing industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Industrial Equipment Rental & Leasing industry in Canada?
The Industrial Equipment Rental & Leasing industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Industrial Equipment Rental & Leasing industry in Canada grown or declined over the past 5 years?
The market size of the Industrial Equipment Rental & Leasing industry in Canada has been growing at a CAGR of 6.0 % between 2020 and 2025.
What is the forecast growth of the Industrial Equipment Rental & Leasing industry in Canada over the next 5 years?
Over the next five years, the Industrial Equipment Rental & Leasing industry in Canada is expected to grow.
What are the biggest companies in the Industrial Equipment Rental & Leasing industry in Canada?
The biggest companies operating in the Industrial Equipment Rental & Leasing industry in Canada are United Rentals and Herc Rentals
What does the Industrial Equipment Rental & Leasing industry in Canada include?
Industrial equipment and Light construction equipment are part of the Industrial Equipment Rental & Leasing industry in Canada.
Which companies have the highest market share in the Industrial Equipment Rental & Leasing industry in Canada?
The company holding the most market share in the Industrial Equipment Rental & Leasing industry in Canada is United Rentals.
How competitive is the Industrial Equipment Rental & Leasing industry in Canada?
The level of competition is high and steady in the Industrial Equipment Rental & Leasing industry in Canada.
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