Canadian Equipment Rental Industry Forecasts Steady Growth Through 2029
Stoney Creek, Ontario, Canada – The Canadian equipment rental industry is projected to experience steady, moderate growth over the next several years despite ongoing economic uncertainty, according to the latest Canadian Equipment Rental Forecast Summary (Q4 2025).
The report highlights that while broader economic conditions remain mixed, the equipment rental sector continues to demonstrate resilience and long-term growth potential, supported by construction activity and infrastructure demand.
“Canada’s rental industry has consistently demonstrated its ability to adapt to changing economic conditions,” said Melanie Misener, Executive Director. “While the broader economy faces some near-term challenges, this forecast reinforces the strength, stability, and long-term opportunity within our sector. Rental continues to be a smart, efficient, and sustainable solution for businesses and consumers alike.”
Equipment Rental Industry Demonstrates Resilience
Canada’s equipment rental industry is forecast to grow steadily over the forecast period.
Total equipment rental revenue is projected to increase by 1.7% in 2026, reaching approximately $8.6 billion. Growth is expected to accelerate to 7.7% in 2027, followed by moderate expansion of 5.5% in 2028 and 4.6% in 2029, when the industry is anticipated to approach $10.3 billion in total revenue.
Construction and Industrial Equipment Drive Market Performance
The construction and industrial equipment rental segment, the largest portion of the industry, is forecast to reach $6.7 billion in 2026, representing growth of 1.8%. This segment is expected to expand further as both residential and non-residential construction markets strengthen, with revenues projected to reach $8.0 billion by 2029.
General Tool Rental to Rebound with Housing Activity
General tool rental revenue is forecast to remain relatively flat in 2026 at $1.5 billion, reflecting slower near-term residential construction activity. However, growth is expected to rebound strongly in 2027 as pent-up housing demand supports construction activity. By 2029, revenues in this segment are expected to reach $1.8 billion.
Tent and Event Rental Sector Continues Upward Trend
The tent and event rental segment is forecast to grow by 5.9% in 2026, followed by further expansion of 7.5% in 2027. Continued growth in live events, corporate gatherings, and hospitality activity is expected to drive the segment to approximately $467 million by 2029.
For media inquires, please contact:
Melanie Misener, Executive Director
905-643-2333
[email protected]