IPAF’s 2026 Rental Market Reports Highlight Slower Growth in Europe and Stronger US Performance

The International Powered Access Federation (IPAF) has published its 2026 Rental Market Reports, featuring expert insight into the MEWP rental markets across Europe, the US, and Asia. 

In 2025, both the European and US MEWP rental markets recorded further revenue growth, supported by higher rental rates and fleet growth. 

The US market performed better than expected, growing by 4% to around USD 15.8 billion. Growth was supported by resilient rental demand, the cost advantage of renting over owning, and activity linked to facilities management and data centre projects. Fleet growth also resumed, and revenue is currently expected to grow by around 5% in 2026.

In Europe, growth was more difficult due to weak construction activity, cost pressure and broader economic uncertainty. The market grew by 2% to €3.6billion, but performance remained uneven, with Spain, Italy and parts of the Nordics outperforming while Germany, France, the UK and the Netherlands remained under pressure. Looking ahead, growth is expected to stay low to moderate in 2026-2027, with continued divergence between stronger Southern European and Nordic markets an

Europe highlights 

The European MEWP rental market recorded revenue growth of 2% in 2025, reaching €3.6 billion, but conditions remained highly uneven across countries. Southern European markets continued to develop very well, with Spain showing particularly strong momentum and Italy expanding at a healthy, though slowing, pace. Rental companies in the Nordic region also had a good year, while markets in Germany, France, the UK, and the Netherlands remained under pressure.

Across all Europe, growth was increasingly driven by market consolidation rather than by rising demand for rental equipment, according to the latest analysis conducted for IPAF by Ducker Carlisle. 

Europe’s MEWP rental sector is slowing, with growth increasingly constrained by economic uncertainty, cautious investment and competitive pricing pressure. Fleet growth dropped to 1%, as rental firms focused on replacement and optimisation rather than expansion after heavy post-Covid renewal.

The picture varies across the region. Spain, Italy and the Nordics performed more strongly, with improving utilisation and firmer rental rates, while Germany, France, the Netherlands and the UK remained under pressure. Across Europe, rental rates increased by just 1% on average, and many firms struggled to pass on rising costs, instead relying on transport, fuel or service charges to protect margins.

The report also highlights a shift in fleet demand. Larger boom lifts remain under pressure, while demand is proving more resilient for compact scissors, low-level access equipment, vehicle-mounted platforms and specialist machines such as spider lifts. Electrification is still advancing, but in many markets the transition is becoming more selective, with rental firms prioritising utilisation, suitability and total cost over purely emissions-led replacement.

US highlights 

In 2025, the US MEWP rental market grew by 4%, reaching approximately USD 15.8 billion. This marked a return to stronger growth and was a better result than expected at the start of the year, when the market was affected by tariff uncertainty, higher financing costs and a cautious macroeconomic outlook. 

Rather than entering a deeper correction, the market proved relatively resilient, while growth was supported by the continued cost advantage of renting rather than owning equipment, steady underlying demand, and activity linked to facilities management and data centre projects. Fleet growth also resumed in 2025. The total US MEWP rental fleet reached around 875,000 units, up 2% compared with 2024. 

Rental rates increased by 2% in 2025, although competition remained strong and rate growth was moderate. Utilisation declined slightly to 70%. This appears to have been driven more by fleet growth than by weaker demand. Market conditions remained broadly healthy, with large projects continuing to absorb capacity, particularly among major national and specialist rental companies. Pressure was more visible among smaller independent rental businesses. 

The stronger-than-expected performance in 2025 confirmed the resilience of rental demand and the structural attractiveness of MEWP rental in the US.

China, India and the Kingdom of Saudi Arabia highlights 

In 2025, China’s MEWP rental market entered a period of correction, with the industry shifting away from expansion-led growth towards a stronger focus on operational performance. Overall annual revenue continued to decline, fleet expansion slowed notably, and intense market competition kept rental rates under pressure.

In response to the 2025 market crisis, leading players have shifted towards fleet reduction through a combination of halting new procurement and asset disposal, coupled with a nationwide rationalisation of their branch networks to eliminate loss-making operations.

In India, however, the MEWP market grew by 18%, driven by a 14% increase in fleet size and a further rise in utilisation. This growth is driven by increasing workplace safety awareness and adoption of MEWP equipment on job sites across government and private sectors.  

In 2025, Saudi Arabia’s MEWP rental market grew by 49%, driven by 67% growth in fleet size. Mega projects such as NEOM, The Line, Riyadh Expo, and FIFA World Cup-related infrastructure developments encouraged rental companies to expand their fleets to cater to rising equipment demand.

Peter Douglas, CEO and Managing Director of IPAF, said: “These latest Rental Market Reports show a sector that remains resilient, but increasingly shaped by very different regional conditions. In Europe, growth is slowing and rental companies are having to manage cost pressure, cautious investment and uneven demand, while the US market has shown stronger momentum than many expected. For rental companies, manufacturers, suppliers and investors, the reports provide valuable insight into where markets are performing well, where pressure is building, and how trends such as fleet renewal, utilisation and electrification are evolving.”

For detailed analysis of the European, US and Asian markets, the 2026 IPAF Rental Market Reports are available now. 

IPAF manufacturer, supplier, distributor and rental company members can apply for a free copy of the relevant report by filling in the form at www.ipaf.org/reports; non-members are able to purchase the report.