THE International Powered Access Federation (IPAF) has published its 2026 Rental Market Reports, featuring 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 $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.
In Europe, the report noted that growth was more difficult due to weak construction activity, cost pressure and broader economic uncertainty. The market grew by 2% to €3.6 billion, 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.
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 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.
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 India, 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 MD 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.”
