2024 Projections: Construction Equipment Rental Market Report for Ahern Rentals, Inc, Ltd, Aktio Corporation, Ashtead Group, Blueline Rental LLC, Boels Rental, Caterpillar Inc, Cramo PLC, Fortrent, H&E Equipment Services, Herc Holdings, Inc

Market Study Report adds 2024 Global Construction Equipment Rental market research of 300 pages supported with 297 data tables and 31 figures profiling 24 leading Construction Equipment Rental industry companies. The research offers forecasts to 2024 for rise in the construction of commercial and residential infrastructures is anticipated to drive the construction equipment rental market over the forecast timeline.

Construction Equipment Rental Market is projected to surpass USD 140 billion by 2024.

The data in this Construction Equipment Rental market research is collated via multiple channels including but not limited to primary and secondary sources, databases, business specific references and others. The study aims to offer not only commercial data but also includes analysis of important factors, technical as well as market-oriented insights. Players in the Construction Equipment Rental market including established companies, new entrants and everyone in between this industry chain covering suppliers, experts, manufacturers, service providers, traders, distributors, consumers / clients and others may find value in this research. Companies profiled include Ahern Rentals, Inc, AJ Networks Co., Ltd, Aktio Corporation, Ashtead Group, Blueline Rental LLC, Boels Rental, Caterpillar Inc, Cramo PLC, Fortrent, H&E Equipment Services, Herc Holdings, Inc, Hinkel Equipment Rental Associates, Kiloutou, Loxam Group, LTech, Mtandt Rentals Limited, Nesco Rentals (Nesco, LLC), Pekkaniska Oy, Ramirent, Riwal, Shanghai Hongxin Equipment Engineering Co., Ltd, Unirent LLC, United Rentals, Inc.

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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.

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.

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.

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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.

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.

Table of Content:

Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3 Construction Equipment Rental Industry Insights
Chapter 4. Construction Equipment Rental Market, By Product
Chapter 5. Construction Equipment Rental Market, By Region
Chapter 6. Company Profiles

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