Press release
Construction Equipment Rental Demand in US Region is Predicted to Grow With a 4.5% CAGR by 2032
In fiscal year 2022, the global rental market for construction equipment is projected to be valued US$ 121 billion, up from US$ 115 billion in fiscal year 2021. Over the previous year, the industry saw a year-over-year growth of 4.3%. The market is anticipated to increase at a 4.3% CAGR from 2022 to 2032, reaching a value of US$ 185 billion by the end of that year.Building and mining activity have been stimulated in the developing nations of the world by increased government expenditure in public infrastructure development. Due to this factor, there is a huge market need for construction equipment. Construction firms and contractors are turning more of their attention to renting construction equipment as a result of rising construction machine prices.
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What is the outlook of the U.S Construction Equipment Rental Market?
The US market is anticipated to reach a value of US$ 65 billion in 2022, with a forecasted CAGR of 4.5%. Residential industry investment is likely to support a robust US economy. Construction equipment with cutting-edge and fuel-efficient technology, as well as regular safety precautions, are driving this industry.
To support the booming construction industry, many organisations are using rental alternatives. The market is expected to adopt new technology as a result of increased government spending on public utilities and infrastructure.
Key Companies Profiled
• United Rentals Inc.
• Herc Holdings Inc.
• Ashtead Group Plc
• Aktio Corporation
• Loxam Sas
• Kanamoto Co. Ltd.
• Nishio Rent All Co. Ltd.
• H&E Equipment Services Inc.
• Nikken Corporation
• Cramo Group
• Ramirent Plc
• Maxim Crane Works L.P.
• KiloutouSarens Nv
• Taiyokenki Rental Co. Ltd.
• Ahern Rentals Inc.
• Boels Rental
• Speedy Hire Plc
What insights this research provides to readers?
• Construction Equipment Rental fragmentation on the basis of product type, end use, and region.
• Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
• Collaborations, R&D projects, acquisitions, and product launches of each Construction Equipment Rental player.
• Various regulations imposed by the governments on the consumption of Construction Equipment Rental in detail.
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Based on precise data trends and classification, we provide one of the most thorough and understandable regional breakdowns of the global Construction Equipment Rental market. With regard to a variety of industries, from developing markets to regional markets, our specialists provided insightful analysis. Expect a thorough examination of the most significant economies in the globe, both internationally and globally.
The most recent market research report, which is being distributed to a global audience, offers business forecasts, growth trends in important regions, and development developments. The thorough market research helps customers navigate the data and understand the analysis. A deeper understanding of the industry, thorough predictions, product production, and overall market income can all be aided by geographic market research.
Construction Equipment Rental Market: Segmentation
• By Product :
o Earth Moving Machinery
o Material Handling Machinery
o Concrete & Road Construction Machinery
• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia
o Oceania
o Middle East & Africa
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• What insights this research provides to readers?
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