IPAF has published its 2026 Rental Market Reports covering the aerial work platform rental markets in Europe, the United States and parts of Asia.
The reports, carried out by Ducker Carlisle, indicate that both Europe and the United States recorded revenue growth last year, supported by higher rental rates and fleet growth.
The United States market grew by four percent to around $15.8 billion, with IPAF citing resilient rental demand, the cost advantage of renting over owning and activity linked to facilities management and data centre projects. Fleet growth resumed, with the total fleet reaching around 875,000 units, up two percent year-on-year, while rental rates increased by two percent and utilisation slipped slightly to 70 percent. Revenue growth of around five percent is currently forecast for 2026.
In Europe, the reports indicate that the market grew by two percent to €3.6 billion, but performance varied by country. Spain, Italy and parts of the Nordic region performed more strongly, while Germany, France, the UK and the Netherlands "remained under pressure". The report indicates that fleet growth dropped to one percent as rental companies focused more on replacement and fleet optimisation rather than expansion, and that consolidation played a larger role in growth than rising demand.
Average rental rates increased by one percent, with some companies relying on transport, fuel or service surcharges to protect margins. It also notes that demand for larger boom lifts remains under pressure, while compact scissors, low-level and vehicle mounted platforms have fared better, along with specialist machines, such as spider lifts.
Outside of Europe and the US, the report highlights a steep fall in the Chinese market, continued growth in India and rapid expansion in Saudi Arabia.
In China, the report says leading rental companies have responded to the 2025 market crisis by reducing fleets, stalling new equipment purchases and disposing of assets. It adds that companies are also rationalising branch networks to remove loss-making operations.
In India, the aerial work platform market grew by 18 percent last year, supported by a 14 percent increase in fleet size and higher utilisation. The report links the growth to rising workplace safety and wider adoption of access equipment on job sites across both government and private sector projects.
Saudi Arabia recorded 49 percent growth in the aerial work platform rental market in 2025, driven by a 67 percent increase in fleet size. The report says major projects including NEOM, The Line, Riyadh Expo and infrastructure linked to the FIFA World Cup encouraged rental companies to expand fleets.
IPAF chief executive Peter Douglas said: “These latest Rental Market Reports show a sector that remains resilient, but increasingly shaped by different regional conditions. In Europe, growth is slowing and rental companies are having to manage cost pressures, 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.”
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