Mining companies face increasing pressure to stay agile, reduce capital expenditure, and adapt to fluctuating commodity cycles and technological change. Budget pressures, rising costs, and a rapidly changing global landscape is forcing the resources industry to reconsider an age-old question: to hire or buy mining equipment and machinery?
Research from Grand View Horizon reveals Australia’s mining equipment rental market is projected to reach revenue of more than US$10.40 billion ($16.06 billion) by 2030 at a compound annual growth rate of 6.9%. Grand View Horizon finds that in terms of revenue, the nation accounted for 6.5% of the global mining equipment rental market in 2024, generating revenue of US$6.97 billion.
The firm’s databook shows in terms of segment, surface mining equipment was the largest in 2024 with a revenue share of 44.23%. The underground mining equipment segment, however, is registering the fastest growth during the forecast period.
The databook has segmented Australia’s mining equipment rental market based on underground mining equipment, surface mining equipment, crushing, pulverizing and screening equipment, drills and breakers, covering the revenue growth of each sub-segment from 2018 to 2030.
Many companies hire heavy machinery such as bulldozers, dump trucks, drills, excavators, and loaders, as well as more specialised equipment like crushers, screeners, and pumps. Hiring reduces upfront costs, is more accessible for juniors, and offers flexibility by allowing companies to adjust equipment according to project needs without being tied to ownership.
As Grand View data shows, a growing number of miners are now turning to on-demand equipment hire by accessing machinery when needed, and returning it when it’s not, in a bid to reduce overheads and liabilities in an ever-changing competitive landscape.
The peak national body for Australia’s hire and rental industry is the Hire and Rental Industry Association (HRIA). Association CEO James Oxenham explains to Mining.com.au that the shift to on-demand equipment is reminiscent of consumers moving from buying DVDs to streaming content.
Oxenham, who’s also CEO of the Elevating Work Platform Association (EWPA) and has worked across the UK, Europe, and Australia, describes this pivot as the “Netflix model”.
‘Netflix model’
In equipment terms, this means pay-for-use access rather than outright ownership – miners paying to access machines only when they need them (short- or long-term hires, leased fleets), rather than buying and holding capital equipment.
Oxenham says this model is reshaping mining as it turns equipment from a fixed capital cost into an operational expense. It lets miners scale fleets to production cycles, avoid depreciation and obsolescence, and adopt new technology faster.
“It also concentrates responsibility for maintenance, compliance and operator competency with the hire provider, therefore reducing internal overheads for the mine,” HRIA’s Chief Executive tells this news service.
“With on-demand hire, the model converts capex to opex, reduces sunk-cost and idle-asset risk, and gives access to newer, better-spec machines without long-term ownership”
Oxenham notes this model differs from ‘traditional’ ways of accessing equipment in that traditionally ownership means high upfront capital expenditure, ongoing maintenance and storage costs, depreciation, and the risk of equipment sitting idle between jobs.
“Ownership also requires in-house maintenance capability and training for operators,” he continues.
“With on-demand hire, the model converts capex to opex, reduces sunk-cost and idle-asset risk, and gives access to newer, better-spec machines without long-term ownership.
“The hire provider handles inspection, servicing and compliance, and can often provide operator training or verified operators as part of the hire. This model improves cash flow flexibility and reduces lifecycle and resale risk for miners.”
Tuning in to sector needs
The scale of opportunity for the sector is huge. Australia is recognised as a global leader in mining equipment, technology, and services (METS) across many different commodity segments and technology platforms.
The mining and METS sectors combined contribute an estimated 15% of Australia’s GDP, creates more than 1.1 million jobs, and supports many regional and remote communities. Of those jobs, METS businesses employ 300,000 people directly.
According to Oxenham, there’s a mix of large miners, mid-tier producers, site contractors and project-based contractors adopting this ‘Netflix model’, plus hire companies that have built subscription/managed-fleet offers.
“Many progressive hire firms and technology-enabled rental platforms are packaging equipment, logistics and training into on-demand offers,” he adds.
HRIA’s Chief Executive notes the catalysts for companies adopting this approach are varied. Commodity and cycle volatility means miners increasingly want flexibility to scale fleets up and down.
Companies seeking cash-flow and balance-sheet discipline benefit by converting capex to opex, “which is attractive”, he adds.
Oxenham suggests other catalysts include a rapidly changing technological environment means fleets are now more specialised and digitally enabled, making ownership less attractive, particularly as obsolescence is often expedited. There is also risk transfer – hiring moves maintenance, compliance, and safety responsibility (in part) to specialist providers.
“ESG and circular economy pressures – hiring reduces redundant equipment and lowers carbon footprint by increasing utilisation,” HRIA’s Chief Executive continues.
According to Oxenham (pictured inset), the Netflix model supports mining companies in that rental providers bundle competency and safety into the hire relationship: equipment is inspected and electrically tested before hire and comes ready to operate.
“HRIA also prioritises operator competency by running its own training programs, working with governments on safety guidelines, and promotes best practice in the industry,” Oxenham adds.
“Many hire agreements include pre-hire inductions, site-specific briefings, verified operator options or access to trainer resources.
“The net effect: miners get trained, competent operators and compliant equipment delivered, reducing onsite risk and simplifying safety governance for transient or project-based work.”
Competitive channels
Mining Technicians Group Australia (MTGA) says mining equipment suppliers are the driving force behind the resources industry’s expansion.
“Without new technology and new equipment, work grinds to a halt,” MTGA says.
The group advocates for local suppliers over foreign companies and products, noting local manufacturers often have a better understanding of what the mining industry needs.
“They’re managed by people who have worked in the industry for years and have comprehensive knowledge of what has to go into mining equipment,” MTGA says.
“The result is better equipment that’s more suited for Australia’s tough environments, standing up to the heat, dust, rain and wind better than imported products.
“Not to mention that because they’re locally made, it’s far easier to customise local products than imported ones, and changes can be made quickly.”
As HIRA’s Oxenham explains to Mining.com.au, the competitive landscape in the hire and rental industry for mining equipment and machinery is rapidly evolving and growing, and therefore more competitive.
“Large national multi-location hire companies sit alongside specialist access providers and many smaller owner-operators,” he says.
“Competition is shifting from just equipment availability to value-added services … and flexible commercial models including subscription, ‘Netflix’ style offerings”
“Competition is shifting from just equipment availability to value-added services – for example digital booking/telemetry, maintenance packages, training, and flexible commercial models including subscription, ‘Netflix’ style offerings.”
“Customers (miners and contractors) increasingly choose partners who can deliver safety-certified, well-maintained, digitally enabled kit and operator competency quickly (so operators who bundle equipment plus training plus logistics win more work.”
The sector is dominated by a mix of national multi-branch hire companies, specialist access/equipment hire firms, equipment manufacturers (OEMs) supplying hire fleets, and large mining contractors that run their own fleets.
Emeco (ASX:EHL) is one of the larger players in this space, providing equipment rental and services to the mining sector. On 20 August, the company reported revenue of $785.4 million, up 7% excluding the underground contract mining portfolio which was sold during FY24.
Emeco says its core rental business performed strongly in FY25 and underpinned the performance of the overall group. External rental revenues grew by $50.3 million to $615.4 million.
“The positive performance was driven by significant growth in maintenance services revenue and improved contract management. Average utilisation of the surface rental fleet remained solid at 85% during the year, reflecting continued strong demand from mining customers across gold, iron ore, and coal,” the company says.
One of the more established companies is National Plant & Equipment, which was founded in 1997 and is part of the National Group. It specialises in the dry hire of heavy earthmoving equipment to the mining and civil construction sectors and has more than 4 million operating hours at mine sites across Australia.
Family owned and operated equipment hire company Kennards Hire is one of the better known companies. In 2023, the business celebrated 75 years as an Australian brand.
Similarly, Brooks Mining is an Australian family owned mining plant hire company with over 45 years of experience in the mining industry.
Another player in the hire and rental space includes Aquaflo Hire, which says it goes “where others fear to tread”, referring to the remote and challenging terrain of some of Australia’s mining operations.
Others include A-Plant, which operates across New South Wales and Queensland with a fleet of heavy-duty, mine-compliant earthmoving equipment; Axis Hire, which specialises in high-performance mining equipment for hire in Western Australia; and SMS Mining Services.
Hire standards
As the peak national body for Australia’s hire and rental industry, the HIRA advocates for industry growth, sustainability, and best practice across plant hire, DIY hire, portable buildings, access, and events.
It also drives safety and operational standards, promotes the environmental and economic benefits of hiring (circular economy), and supports members with industry advice, training, fleet best practice, and technical guidance.
Meanwhile, the Elevating Work Platform Association (EWPA) is the peak representative body for the specialised elevating work platform (EWP/access) sector in Australia. It focuses on safety, competency, and industry standards, promoting EWP as the preferred safe choice for work at height.
EWPA operates through national and state committees, represents manufacturers, hire companies, trainers, and end-users. It leads training and competency initiatives (yellow card updates, verification of competency) and pioneers innovation in safety training and assessment.
The Hire and Rental Industry Association is bringing major equipment hire and rental event HIRE26 to Sydney 20-21 May 2026 at Sydney Showgrounds. HIRE26 is designed to motivate and inspire anyone in the equipment and events hire industry, providing a forum for suppliers to showcase the latest in technology, innovation, and products.
HRIA will again provide keynote speakers providing thought leadership, motivation, and strategic knowledge for industry stakeholders from all sectors to apply to their businesses.
There will be educational workshops and social events to continue the networking, including the highly anticipated Hire Industry Excellence Awards and Gala Dinner, which honour the finalists and winners of awards such as Hire Company of the Year, Supplier of the Year, Young Professional of the Year, and Women in Hire.
Write to Adam Orlando at Mining.com.au
Images: A-Plant, Brooks, Emeco, iStock & Unsplash
