The Canadian Rental Association (CRA) is expecting continued growth in the equipment rental industry despite broader economic challenges and shifting trade dynamics, according to its 2025 first quarter forecast.
Canadian equipment rental revenue is expected to increase 3.4 per cent in 2025, reaching $8.5 billion.
According ot the CRA, this 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 Canadian Rental Association.
“Our members continue to play a vital role in supporting key construction, industrial and infrastructure projects across the country.”
Construction and Industrial Equipment Rental is anticipated to grow 4 per cent in 2025 to $6.6 billion. This is supported by non-residential construction activity and increased oil sands investment. The segment is expected to reach $8.2 billion by 2029.
In general tool rental, growth is expected to moderate at 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 will grow by 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 Canadian Rental Association is the national voice of the equipment and event rental industry in Canada. CRA advocates on behalf of its members to government, regulators, and other stakeholders, and provides industry insights, best practices, education and networking opportunities.
