Indonesia Construction Equipment Rental Market - Strategic Assessment & Forecast 2024-2029

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THE INDONESIA CONSTRUCTION EQUIPMENT RENTAL MARKET SIZE WAS ESTIMATED AT 474.1 MILLION IN 2023 AND IS EXPECTED TO REACH 794.8 MILLION BY 2029, GROWING AT A CAGR OF 8.99%.

The Indonesia Construction Equipment Rental Market Research Report Includes Segments By

  • Earthmoving Equipment: Excavators, Backhoe Loaders, Wheeled Loaders, and Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
  • Road Construction Equipment: Road Rollers and Asphalt Pavers
  • Material Handling Equipment: Crane, Forklift & Telescopic Handlers, and Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
  • Other Construction Equipment: Dumpers, Tippers, Concrete Pump Trucks, and Concrete Mixers
  • End Users: Construction, Mining, Warehouse & Logistics, and Others

The Industry Analysis Report Provides Industry Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2024-2029

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INDONESIA CONSTRUCTION EQUIPMENT RENTAL MARKET REPORT SCOPE

REPORT ATTRIBUTEDETAILS
Market Size (2029)794.8 Million
Market Size (2023)474.1 Million
CAGR (2023-2029)8.99%
HISTORIC YEAR2019-2022
BASE YEAR2023
FORECAST YEAR2024-2029
EQUIPMENT TYPEEarthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and Other Equipment
END-USERSConstruction, Mining, Manufacturing, and Others
KEY VENDORSCaterpillar, Komatsu, JCB, Volvo Construction Equipment, Hitachi Construction Machinery, Kubota, SANY, Xuzhou Construction Machinery Group Co. Ltd. (XCMG), Liebherr, Kobelco, Zoomlion Heavy Industry Science & Technology Co., Ltd., and SUMITOMO CONSTRUCTION MACHINERY CO., LTD.
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INDUSTRY OUTLOOK

The Indonesia construction equipment rental market size was valued at USD 474.1 in 2023 and is expected to reach USD 794.8 million by 2029, growing at a CAGR of 8.99% during the forecast period. The government in Indonesia is investing in the redevelopment of infrastructure projects, including the expansion of ports, railway lines, roadways, and highways. The Indonesian government introduced National Strategic Projects in the country. The projects focus on increasing economic growth, community welfare, and regional development. There are over 200 projects in National Strategic Projects, ranging from toll road development and new airport construction to broadband enhancement coverage, worth around USD 500 billion. The National Strategic Projects program in the region is expected to propel the Indonesian construction equipment rental market during the forecast period.

In 2023, the Indonesian government planned to invest in the construction of 200 projects and ten programs under National Strategic Projects, with an investment value of USD 407 billion, targeted to be completed by the third quarter of 2024. The 200 projects comprise 56 roads, 57 dams, 11 railways, 16 railways, 15 energy, 16 ports, 12 water and sanitation, two housing estates, eight airports, nine irrigations, one education, one coastal embankment, and one technology. The government’s investment in public infrastructure projects under National Strategic Projects is expected to support the Indonesian construction equipment rental market.

KEY HIGHLIGHTS

  • The rental earthmoving equipment accounted for the largest market share of the Indonesia construction equipment rental market in 2023. Rental excavators in the earthmoving segment accounted for the largest share in 2023. Rising investment in housing, port expansion, and public infrastructure projects is expected to drive the demand for rental excavators in Indonesia’s construction equipment rental market.
  • The region government's ambitious USD 430 billion investment in infrastructure projects from 2021 to 2024, particularly in transportation (roads, railways, ports), is a significant driver for the Indonesia construction equipment rental market growth.
  • Rising coal and nickel extraction demand is boosting the need for heavy equipment rentals.
  • Renting equipment reduces upfront costs for contractors, especially for short-term projects.
  • The construction sector is a key contributor to Indonesia's GDP, typically accounting for 10% of the total GDP.
  • In the third quarter of 2023, Indonesia's economy experienced robust growth, but it slowed more than anticipated to its weakest in two years. The annual GDP expansion was 4.94% in Q3 2023, below the second quarter’s prediction of 5.17%.
  • The enhancement of Motorway No. 5 (Ratchaburi-Nakhon Sawan-Phitsanulok), spanning 355 kilometers, involves the transformation of the space into a four-lane expressway to enhance traffic movement and alleviate congestion. This project is slated for completion by 2024.

MARKET TRENDS & DRIVERS

Renting of Electric & Hydrogen Fuel Construction Equipment

Environmental concerns in Indonesia reached new heights in 2023, fueled by the government's ambitious goal of achieving carbon neutrality by 2050. This has sparked a significant shift towards environmentally friendly solutions across various industries, including construction. Traditional, diesel-powered construction equipment has been scrutinized for contributing to air pollution and greenhouse gas emissions. As a result, the demand for electric construction machinery in Indonesia saw a notable rise in 2023. Government initiatives to reduce carbon emissions played a crucial role in this surge, incentivizing companies to explore cleaner alternatives. Further, the Indonesian construction equipment rental market is expected to grow significantly due to a rising demand for electric and hydrogen-powered options.

Surge in Renting of Large Excavators & Dump Trucks

  • The Indonesian government has invested heavily in infrastructure projects, including airports, railways, highways, and bridges. This has led to a high demand for earthmoving equipment.
  • There has been a rise in mining activities, particularly for coal and nickel. This has driven the demand for large excavators and dump trucks that extract and transport materials.
  • The Indonesia construction equipment rental market witnessed growth in the demand for large crawler excavators and dump trucks due to a rise in nickel and coal mining activities in the country in 2023.
  • The availability of large equipment is crucial for the construction and mining industries, and the surge in rentals has helped support their growth.
  • The Indonesian government is focusing on increasing the use of electric and automated construction equipment, which could positively impact the environment.

Growth in the Mining Industry to Boost the Indonesia Construction Equipment Rental Market

The mining industry was one of the significant contributors to the Indonesian GDP in 2023. Industry accounted for over 5% of it in 2023. According to a report from the Badan Pusat Statistik (BPS), the mining industry witnessed a sharp growth in 2023; the industry’s mineral export value reached USD 5.93 billion, witnessing a growth of 103% as compared to 2022. Also, the iron ore industry recorded the largest growth of 25.78% in the mining and quarrying sub-sector in 2023. The other mining sub-sector grew by 4.79%, and the lignite coal sub-sector grew by 3.64%.

Rise in Infrastructure Investment Boosting the Indonesian Construction Equipment Rental Market

  • The Indonesian government aims to invest USD 430 billion in infrastructure development projects from 2021 to 2024, a 20% rise in infrastructure investments from the last investment plan in 2015–2020.
  • In 2023, the Indonesian government planned 49 projects, including 33 PPP and 16 non-PPP projects. The 33 PPP projects include 18 road sector projects, four telecommunication sector projects, one electricity sector project, six water supply sector projects, three transportation sector projects, and one energy conservation sector project. A total investment value of over USD 38 billion is planned for these infrastructure projects.
  • A rise in infrastructure projects in the region is expected to drive the growth of the Indonesia construction equipment rental market during the forecast period.

Government Investment Under National Strategic Projects

The government plans to invest USD 430 billion in projects from 2021 to 2024, representing a 20% increase from the previous investment plan. Some key projects driving demand for rental construction equipment:

  • Toll Road Development: This sector boasts several projects, including Trans-Sumatra, Trans-Java, and Trans-Papua toll roads, requiring earthmoving equipment, cranes, and trucks.
  • New Airport Construction: Projects like the new Yogyakarta International Airport and the relocation of the capital city to Nusantara necessitate diverse equipment for various stages of construction.
  • Railway Expansion: Plans for high-speed rail and expansion of existing networks will utilize track-laying machinery, excavators, and heavy-duty cranes.

INDUSTRY RESTRAINTS

Rising Building Material Prices Can Hamper Construction Industry

In 2023, fuel and oil prices rose in the Indonesian market. The increase in fuel prices is expected to affect other commodities, including housing and property sectors. It will also affect the prices of building materials such as iron, cement, sand, steel, and brick. Further, the cost of construction projects of buildings for roads, bridges, and ports increased by 9.6%, followed by the cost of installations of electricity, gas, water, and communication centers, which rose by 5.6%. The construction cost of residential building projects also witnessed a growth of 4.2% in 2023.

Shortage of Skilled Labor Due to High Dependency on Foreign Labor

Indonesia has been facing a shortage of skilled labor. The country needs ~113 million skilled workers by 2030 to achieve economic growth in the manufacturing, infrastructure, and agribusiness sectors. Furthermore, the country depends on foreign and cheap labor from Bangladesh, Nepal, and India. According to Caterpillar Indonesia, the improper handling of construction machinery is one of the major challenges facing the Indonesia construction equipment rental market. Also, the COVID-19 pandemic in 2020 and 2021 triggered a shortage of skilled labor in the region. The lockdown situations and insurgence of the second wave of infection further impacted the Indonesian labor market in 2022 and 2023.

Policy to Allow Foreign-Manufactured Equipment

  • Government policies have sidelined local heavy equipment manufacturers in Indonesia as they allow imports of used construction equipment into the market, and such factors have impacted the growth of the Indonesian construction equipment rental market.
  • There is a surge in government infrastructure projects in the country. Large infrastructure projects are carried out by foreign contractors that import their equipment, both used and new machinery.
  • In addition, there are other challenges, such as the free entry of heavy equipment for projects funded by China and Japan.
  • Contractors prefer to use construction equipment for infrastructure projects to reduce the overall project cost.

VENDOR LANDSCAPE

  • Caterpillar, Komatsu, Hitachi Construction Machinery, Kobelco, Zoomlion, XCMG, SANY, and Volvo CE are leaders in the Indonesia construction equipment rental market. These companies have strong market share and offer diverse sets of equipment.
  • HD Hyundai Construction, Liugong, Yanmar, Tadano, Manitou, and Bobcat are niche players in the Indonesian construction equipment rental market. These companies offer low product diversification and have a strong presence in the Indonesian local market.
  • The Indonesia construction equipment rental market is primarily dominated by four rental companies owned by the Japanese: Aktio, Probesco Kanamoto, PT Rental Crane, and Coates Indonesia. These companies, including ICC, are actively involved in the Indonesian rental sector.

Frequently Asked Questions

How big is the Indonesia construction equipment rental market?

The Indonesia construction equipment rental market size was valued at 474.1 million by 2023 and is expected to reach 794.8 million by 2029.

Who are the key players in the Indonesia construction equipment rental market?

Caterpillar, Komatsu, JCB, Volvo Construction Equipment, Hitachi Construction Machinery, Kubota, SANY, Xuzhou Construction Machinery Group Co. Ltd. (XCMG), Liebherr, Kobelco, Zoomlion Heavy Industry Science & Technology Co., Ltd., and SUMITOMO CONSTRUCTION MACHINERY CO., LTD. are the key players in the Indonesia construction equipment rental market.

What are the trends in the Indonesia construction equipment rental market?

Japanese rental companies focusing on digital transformation, renting of electric & hydrogen fuel construction equipment, and surge in renting of large excavators & dump trucks are trends in the Indonesia construction equipment rental market.

Which are the major distributor companies in the Indonesia construction equipment rental market?

Aktio Corporation, PT. Coates Hire, PT. Rental Crane Indonesia (RCI), Kanamoto, PT. Berlian Amal Perkasa Construction & Rental, Nishio, PT. Indonesia Classification Company, PT Kobexindo Tractors Tbx (KOBEX), PT. Madhani Talatah Nusantara (MTN), and CV. Mitra Perdana Equipment (MPE) are the major distributor companies in the Indonesia construction equipment rental market.

What is the growth rate of the Indonesia construction equipment rental market?

The Indonesia construction equipment rental market share by volume is expected to grow at a CAGR of 8.99% from 2023 to 2029.

The Indonesia construction equipment rental market size is expected to grow at a CAGR of approximately 8.99% from 2023 to 2029.

The following factors are likely to contribute to the growth of the Indonesia construction equipment rental market during the forecast period:

  • The Rise in Infrastructure Investment Boosting Rental Equipment Demand
  • Government Investment under National Strategic Projects
  • Growth in the Mining Industry Driving Indonesian Construction Equipment Rental Market

Base Year: 2023

Forecast Year: 2024-2029

The report considers the present scenario of the Indonesia construction equipment rental market and its market dynamics for 2024−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Prominent Vendors

  • Caterpillar
  • Komatsu
  • JCB
  • Volvo Construction Equipment
  • Hitachi Construction Machinery
  • Kubota
  • SANY
  • Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
  • Liebherr
  • Kobelco
  • Zoomlion Heavy Industry Science & Technology Co., Ltd.
  • SUMITOMO CONSTRUCTION MACHINERY CO., LTD.

Other Prominent Vendors

  • Hyundai Construction Equipment
  • LiuGong
  • Yanmar
  • Tadano
  • Takeuchi Manufacturing
  • Manitou
  • KATO WORKS CO., LTD.
  • GEHL
  • Bobcat
  • Terex Corporation
  • CNH Industrial
  • AIRMAN
  • Eurocomach
  • Ammann
  • Haulotte
  • Toyota Material Handling
  • SAKAI HEAVY INDUSTRIES,LTD.
  • Xiamen XGMA Machinery Company Limited

Rental Companies

  • Aktio Corporation
  • PT. Coates Hire
  • PT. Rental Crane Indonesia (RCI)
  • Kanamoto
  • PT. Berlian Amal Perkasa Construction & Rental
  • Nishio
  • PT. Indonesia Classification Company
  • PT Kobexindo Tractors Tbx (KOBEX)
  • PT. Madhani Talatah Nusantara (MTN)
  • CV. Mitra Perdana Equipment (MPE)

Segmentation by Type

  • Earthmoving Equipment
  • Excavators
  • Backhoe Loaders
  • Wheeled Loaders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
  • Road Construction Equipment
  • Road Rollers
  • Asphalt Pavers
  • Material Handling Equipment
  • Crane
  • Forklift & Telescopic Handlers
  • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
  • Other Construction Equipment
  • Dumpers
  • Tippers
  • Concrete Pump Trucks
  • Concrete Mixers
  • End Users
  • Construction
  • Mining
  • Warehouse & Logistics
  • Others

Graph 1 CONSTRUCTION EQUIPMENT RENTAL MARKET, VALUE ($ MN)

Graph 2 CONSTRUCTION EQUIPMENT RENTAL MARKET 2023 (%)

Graph 3 INCREMENTAL GROWTH BY EQUIPMENT TYPE 2023–2029 ($ MN)

Graph 4 CONSTRUCTION EQUIPMENT RENTAL MARKET VALUE BY END-USER INDUSTRIES. 2022 (% SHARE)

Graph 5 INDONESIA CONSTRUCTION EQUIPMENT RENTAL MARKET, VALUE

2022–2029 ($ MN)

Graph 6 SHARE OF INFRASTRUCTURE PROJECTS IN INDONESIA 2023 (%)

Graph 7 MINING INDUSTRY SUBSECTOR GROWTH IN 2023 (%)

Graph 8 RISE IN HOUSING PROJECT COST IN INDONESIA (%)

Graph 9 INDONESIA EARTHMOVING CONSTRUCTION EQUIPMENT RENTAL MARKET 2019–2029 ($ MN)

Graph 10 INDONESIA EXCAVATORS' RENTAL MARKET 2019–2029 ($ MN)

Graph 11 INDONESIA BACKHOE LOADERS RENTAL MARKET 2019–2029 ($ MN)

Graph 12 INDONESIA WHEELED LOADERS RENTAL MARKET 2019–2029 ($ MN)

Graph 13 INDONESIA OTHER EARTHMOVING EQUIPMENT RENTAL MARKET 2019–2029 ($ MN)

Graph 14 INDONESIA ROAD ROLLERS RENTAL MARKET SIZE & FORECAST 2019–2029 ($ MN)

Graph 15 INDONESIA ROAD ROLLERS RENTAL MARKET SIZE & FORECAST

2019–2029 ($ MN)

Graph 16 ASPHALT PAVERS RENTAL MARKET SIZE & FORECAST

2019–2029 ($ MN)

Graph 17 INDONESIA MATERIAL HANDLING EQUIPMENT RENTAL MARKET

2019–2029 ($ MN)

Graph 18 INDONESIA CRANES RENTAL MARKET VALUE 2019–2029 ($ MN)

Graph 19 INDONESIA FORKLIFT AND TELESCOPIC HANDLERS' RENTAL MARKET SIZE & FORECAST 2019–2029 ($ MN)

Graph 20 AERIAL PLATFORMS RENTAL MARKET SIZE & FORECAST

2019–2029 ($ MN)

Graph 21 INDONESIA OTHER CONSTRUCTION EQUIPMENT RENTAL MARKET 2019–2029 ($ MN)

Graph 22 INDONESIA DUMPER RENTAL MARKET 2019–2029 ($ MN)

Graph 23 INDONESIA TIPPER RENTAL MARKET 2019–2029 ($ MN)

Graph 24 INDONESIA CONCRETE MIXTURE RENTAL MARKET 2019–2029 ($ MN)

Graph 25 INDONESIA CONCRETE PUMP TRUCK RENTAL MARKET 2019–2029 ($ MN)

Graph 26 INDONESIA CONSTRUCTION EQUIPMENT RENTAL MARKET 2019–2029 ($ MN)

Graph 27 INDONESIA LOGISTICS & WAREHOUSE CONSTRUCTION EQUIPMENT RENTAL MARKET 2019–2029 ($ MN)

Graph 28 INDONESIA MINING CONSTRUCTION EQUIPMENT RENTAL MARKET 2019–2029 ($ MN)

Graph 29 INDONESIA OTHERS CONSTRUCTION EQUIPMENT RENTAL MARKET 2019–2029 ($ MN)

Graph 30 MARKET SHARE OF TOP VENDORS VS OTHERS (2022)

Graph 31 CATERPILLAR: SALES BY REGION IN 2022 (% SHARE)

Graph 32 CATERPILLAR: SALES BY BUSINESS SEGMENT 2022 (%)

Graph 33 KOMATSU: SALES BY REGION IN 2022(% SHARE)

Graph 34 KOMATSU: BREAKDOWN OF NET SALES BY BUSINESS SEGMENT 2022 (% SHARE)

Graph 35 VOLVO: NET SALES BY REGION 2022 (% SHARE)

Graph 36 VOLVO: NET SALES BY SEGMENT 2022 (% SHARE)

Graph 37 HITACHI: SALES BY REGION 2022 (% SHARE)

Graph 38 HITACHI: SALES BY PRODUCT SEGMENT 2022 (% SHARE)

Graph 39 LIEBHERR: SALES BY REGION 2022 (% SHARE)

Graph 40 LIEBHERR: SALES BY PRODUCT SEGMENT 2022 (% SHARE)


LIST OF TABLES


Table 1 KEY INFRASTRUCTURE PROJECTS ACROSS INDONESIA

Table 2 TOTAL INCREMENTAL OPPORTUNITY, 2023–2029 (BY TYPE)

Table 3 TOTAL INCREMENTAL OPPORTUNITY, 2023–2029 (BY END-USER)

1. RESEARCH METHODOLOGY

2. RESEARCH OBJECTIVES

3. RESEARCH PROCESS

4. INTRODUCTION

4.1. Market Coverage

4.2. Report Scope

5. MARKET AT A GLANCE

5.1. Market Overview

5.2. Market Snapshot

6. EXECUTIVE SUMMARY

7. MARKET LANDSCAPE

7.1. PESTEL Analysis

7.2. Economic Scenario

7.3. Market Dynamic

7.4. Key Economic Regions

7.5. Rental Construction Equipment Circular Economy Model

7.6. Advantages Of Rental Construction Equipment Over New Equipment

7.7. Parameters Required to Consider Before Renting Construction Equipment

8. SEGMENTATION

8.1 Type

8.1.1 Equipment Definition (Earthmoving)

8.1.1.1 Earthmoving Equipment

8.1.1.2 Excavators

8.1.1.3 Backhoe Loaders

8.1.1.4 Wheeled Loaders

8.1.1.5 Other Earthmoving Equipment (Other Loaders, Bulldozers, Trenchers, etc.)

8.1.2 Equipment Definition (Road Construction)

8.1.2.1 Road Construction Equipment

8.1.2.2 Asphalt Pavers

8.1.2.3 Road Rollers

8.1.3 Equipment Definition (Market Handling)

8.1.3.1 Material Handling Equipment

8.1.3.2 Cranes

8.1.3.3 Forklifts & Telehandlers

8.1.3.4 Aerial Platforms

8.1.4 Equipment Definition (Other Equipment)

8.1.4.1 Other Construction Equipment

8.1.4.2 Dumpers

8.1.4.3 Tippers

8.1.4.4 Concrete Mixtures

8.1.4.5 Concrete Pump Trucks

8.2 End-user

8.2.1 End-user Definition

8.2.2 Construction

8.2.3 Warehouse & Logistics

8.2.4 Mining

8.2.5 Others (Waste Management, Agriculture, Oil & gas Extraction, Utilities & Energy, Power Generation, Disaster Management & Water Management)

9. GEOGRAPHICAL ANALYSIS

10. TECHNOLOGY DEVELOPMENT

11. COMPETITIVE LANDSCAPE

11.1 Competitive Landscape Overview

11.2 Vendors (Caterpillar | Volvo Construction Equipment| Komatsu | Hitachi Construction Machinery |Liebherr | JCB | Hyundai Construction Equipment |Liu Gong| Kubota| Zoomlion |Yanmar |SANY| XCMG)

11.3 Other Prominent Vendors

11.4 Rental Companies Profiles

12. REPORT SUMMARY

12.1 Key Insights

12.2 Abbreviation

12.3 Exhibits

12.4 Related Report

12.5 Database

12.6 Global Reach

12.7 Offerings

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Frequently Asked Questions

How big is the Indonesia construction equipment rental market?

The Indonesia construction equipment rental market size was valued at 474.1 million by 2023 and is expected to reach 794.8 million by 2029.

Who are the key players in the Indonesia construction equipment rental market?

Caterpillar, Komatsu, JCB, Volvo Construction Equipment, Hitachi Construction Machinery, Kubota, SANY, Xuzhou Construction Machinery Group Co. Ltd. (XCMG), Liebherr, Kobelco, Zoomlion Heavy Industry Science & Technology Co., Ltd., and SUMITOMO CONSTRUCTION MACHINERY CO., LTD. are the key players in the Indonesia construction equipment rental market.

What are the trends in the Indonesia construction equipment rental market?

Japanese rental companies focusing on digital transformation, renting of electric & hydrogen fuel construction equipment, and surge in renting of large excavators & dump trucks are trends in the Indonesia construction equipment rental market.

Which are the major distributor companies in the Indonesia construction equipment rental market?

Aktio Corporation, PT. Coates Hire, PT. Rental Crane Indonesia (RCI), Kanamoto, PT. Berlian Amal Perkasa Construction & Rental, Nishio, PT. Indonesia Classification Company, PT Kobexindo Tractors Tbx (KOBEX), PT. Madhani Talatah Nusantara (MTN), and CV. Mitra Perdana Equipment (MPE) are the major distributor companies in the Indonesia construction equipment rental market.

What is the growth rate of the Indonesia construction equipment rental market?

The Indonesia construction equipment rental market share by volume is expected to grow at a CAGR of 8.99% from 2023 to 2029.