Rental association forecasts steady growth for equipment rental industry in 2025 and 2026
May 9, 2025
By Canadian Rental Service Staff
(Image by: Adobe Stock) STONEY CREEK, ONT. – The Canadian Rental Association (CRA) shares its Q1 2025 forecast, highlighting continued growth in the equipment rental industry despite broader economic challenges and shifting trade dynamics.
According to the CRA, Canadian equipment rental revenue is projected to rise 3.4 per cent in 2025, reaching $8.5 billion. Momentum is expected to carry into 2026, with a 4.6 per cent increase in revenue, indicating a resilient industry outlook. By 2029, the Canadian rental market is forecast to expand to $10.5 billion.
“Despite uncertainty in the broader economic landscape, the rental industry remains a dependable and growing sector,” said Melanie Misener, executive director of the CRA. “Our members continue to play a vital role in supporting key construction, industrial, and infrastructure projects across the country.”
Key sector highlights include:
- Construction and Industrial Equipment Rental: Anticipated to grow 4.0 per cent in 2025 to $6.6 billion, supported by non-residential construction activity and increased oil sands investment. The segment is expected to reach $8.2 billion by 2029.
- General Tool Rental: Growth is expected to moderate to 0.9 per cent in 2025, with a recovery in 2026 leading to 3.7 per cent growth. Longer-term growth remains solid, with revenues projected to reach $1.8 billion by 2029.
- Tent and Event Rentals: Slated to grow 2.5 per cent in 2025, with stronger growth of 5.5 per cent expected in 2026. The segment is forecast to reach $461 million by 2029.
While trade policies and inflationary pressures are creating uncertainty across multiple sectors, the Canadian rental industry is well-positioned to navigate these changes. Growth in non-residential building and strategic infrastructure spending continues to drive demand for rental equipment.
The CRA remains committed to supporting its members through advocacy, market intelligence, and professional development as the industry adapts to evolving economic conditions.