Press release
Construction Equipment Rental Market focusing on Key Players like United Rentals, Ashtead Group, Cramo PLC, Ahern Rentals, Loxam Group, Nesco Rentals
Construction Equipment Rental Market, Construction Equipment Rental Market Study, Construction Equipment Rental Market Size, Const
Construction Equipment Rental Market is projected to surpass USD 140 billion by 2024. The rise in the construction of commercial and residential infrastructures is anticipated to drive the construction equipment rental market over the forecast timeline. Government institutions across various regions are making heavy investments on new construction projects as well as reconstructing the existing structures. Rising disposable income coupled with the enhancement in living standards of individuals across the emerging economies is leading to growing investments in shopping malls, recreation centers, and amusement parks. These infrastructure projects generally have stringent timelines, compelling the construction companies to rent machinery instead of purchasing, considering it as a more profitable approach.
Factors such as economic fluctuations and global financial crisis are anticipated to hinder the construction equipment rental market growth over the forecast timeline. In addition, the unavailability of skilled personnel coupled with the increase in fuel prices will negatively impact the industry demand. The preference of human labor over machinery for construction projects across various regions is also expected to limit the construction equipment rental market.
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Increasing number of aging infrastructures in countries including Japan and the U.S. led the regional governments to restore them with sturdy structures, which is expected to generate a significant demand for the construction equipment rental market. In addition, the industry is currently witnessing an increase in demand pertaining to the growing number of smart city projects undertaken by various regional governments. The ever-increasing rate of accidents in work-sites is compelling construction firms worldwide to make use of advanced machinery, reducing the amount of manual labor. Several benefits offered by renting heavy construction machinery include the reduction in overhead expenses followed by the lowering of technical and other maintenance charges contributing to the construction equipment rental market growth. In addition, renting helps the construction companies to reduce overall project costs, transportation, and servicing-related costs.
Increasing demand for enhancing throughput is compelling the construction companies to focus on utilizing more technologically-advanced material handling equipment. The material handling segment is expected to grow at over 5 percent CAGR due to easy availability of renting the heavy machinery.
This equipment is capable of moving & storing more efficiently, enabling breakthrough lift heights, visibility, and energy savings, ensuring reliability and safety while working. Growing penetration of GPS, IoT, and RFID technologies in the material handling equipment is a major factor propelling the construction equipment rental market growth. In addition, the availability of semi- and fully-automated material handling machinery is contributing to the industry demand.
Top Manufacturers in global market are given bellow: United Rentals, Ashtead Group, Cramo PLC, Ahern Rentals, Loxam Group, Nesco Rentals, Herc Holdings, Blueline Rentals, Caterpillar, Inc., and Shanghai Hongxin Equipment Engineering Co
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Asia Pacific construction equipment rental market is expected to reach over USD 40 billion by 2024. The emerging trend of the organizations toward renting of heavy construction machinery will have a positive impact toward the industry demand. Rising wage rates in China coupled with the changing consumption patterns are generating a huge demand for the rental machinery. Countries including India will witness a significant growth over the forecast timeline. The growth can be attributed to the rising number of high-scale infrastructure projects undertaken by the government such as Chardham Highway Project, Setu Bharatam Project, Bharatmala Project, and Gujarat-Gorakhpur Gas Pipeline.
The above information is provided on a regional and country basis for the following:
U.S, Canada, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa
By Product
• (Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment]
• Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, Bulk Material Handling Equipment]
• Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, Batching Plants])
Table of Content@
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Commercial Drone Industry Insights
Chapter 4. Competitive Landscape
Continued@........................
Data Tables
TABLE 1 Global construction equipment rental industry 360º synopsis, 2013 - 2024
TABLE 2 Global construction equipment rental market, 2013 - 2017 (USD Million)
TABLE 3 Global construction equipment rental market, 2018 - 2024 (USD Million)
TABLE 4 Global construction equipment rental market, by region, 2013 - 2017 (USD Million)
TABLE 5 Global construction equipment rental market, by region, 2018 - 2024 (USD Million)
TABLE 6 Global construction equipment rental market, by product, 2013 - 2017 (USD Million)
TABLE 7 Global construction equipment rental market, by product, 2018 - 2024 (USD Million)
TABLE 8 Global earthmoving and road building equipment rental market, by product, 2013 - 2017 (USD Million)
TABLE 9 Global earthmoving and road building equipment rental market, by product, 2018 - 2024 (USD Million)
TABLE 10 Global material handling & crane rental market, by product, 2013 - 2017 (USD Million)
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