Press release
Construction Equipment Rental Market Demand & Future Growth Analysis, 2020–2027
Construction Equipment Rental Market
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The global construction equipment rental market size was $91.0 billion in 2019, and is expected to reach $106.4 billion by 2027, registering a CAGR of 4.2% from 2020 to 2027.
In addition, end users does not have to bear the maintenance and operating cost of equipment, which significantly contributes toward the growth of the global market. Moreover, issues of finding and hiring skilled equipment operators is resolved at the user’s end, as rental company deals with such problems. However, lack of skilled labors acts as a key restraint for the growth of rental companies. In addition, lockdown implemented due to the outbreak of the COVID-19 pandemic negatively impacts the market, as construction and mining activities were either partially stopped or completely halted.
Key Market Players
Boels Rentals
H&E Equipment Services
Herc Rentals Inc.
Kanamoto Co., Ltd.
Nesco Holdings, Inc.
Maxim Crane Works, L.P.
Mtandt Group
Ramirent
Sarens n.v./s.a.
United Rentals, Inc.
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Key Market Segmentation
By Application
Excavation & Mining
Material Handling
Earthmoving
Concrete
By Product
Backhoes & Excavators
Loaders
Crawler Dozers
Cranes
Forklift
Other
By Propulsion System
Electric
ICE
By Region
North America
Europe
Asia-Pacific
LAMEA
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