KBS - Equipment-as-a-Service - Market Insight

KEY DRIVERS AND MOTIVATIONS FOR ACQUIRERS INCREASED REPAIR COMPLEXITY EaaS models are enabled by digital technology, i.e. the Industrial Internet of Things (IIoT). Providers equip machines with IoT sensors and telematics to monitor usage, performance and maintenance needs in real time. This data-driven approach allows for predictive maintenance and optimal asset utilisation. Furthermore, IoT connectivity and cloud analytics have made it possible for firms to offer equipment on a pay-per-use or subscription basis with confidence in tracking and billing. This aligns with the broader digital shift in enterprise services, as businesses increasingly prefer service models over outright purchases. CONSOLIDATION The current market is fragmented, and leading rental firms are broadening their services and geographic reach. For example, Sunbelt Rentals (Ashtead) has been very active in the market, completing multiple acquisitions e.g. JLL Group, a technical broadcast and production solutions provider, and Hybrid Power Hire (HPH). Moreover, some firms have been moving into adjacent verticals, as JLL Group provides film and TV equipment rentals. United Rentals has continued to bolt on regional competitors to extend its fleet and customer base. In 2025, it announced the acquisition of H&E Equipment Services for $4.8billion. This follows a period of strategic acquisitions including Yak Access for $1.1billion and Ahern Rentals for $2billion.

Construction Equipment Rental & Leasing in the UK INDUSTRY MARKET SHARE BY COMPANY Industry specific company revenue as a share of total industry revenue

Sunbelt Rentals Ltd (£574.6m)

6.4%

Speedy Hire plc (£431.0m)

4.8%

HSS Hire Service Group Ltd (£274.0m)

3.0%

Select Plant Hire Company Ltd (£183.7m)

2.0%

Other equipment (£7.6bn)

83.8%

SOURCE: IBISWorld