Construction Equipment Rental Market Destine to Reach USD 140.75 Million with Growing CAGR of 4.60% By 2029

Over the recent years, renting or leasing construction equipment has immensely become more popular due to its high cost and difficulty in maintaining it. Moreover, due to the high level of investment, construction companies prefer to hire equipment to reduce project costs. This is a low-cost strategy because it lowers maintenance costs and fewer technical fees. The construction equipment rental market is expanding as a result of increased demand for heavy machinery equipment and global economic growth. Furthermore, as the number of smart city initiatives grows, so will the market, even during the forecast period.

Global construction equipment rental market was valued at USD 98.22 billion in 2021 and is expected to reach USD 140.75 billion by 2029, registering a CAGR of 4.60% during the forecast period of 2022 to 2029.

Equipment rental, also known as plant hire, is a service industry that rents out machinery, equipment, and tools of various sizes and types (ranging from earthmoving to powered access, power generation to hand-held tools, and so on) to final users, primarily construction contractors but also industry and individual consumers, for a set period. Construction equipment rental is basically leasing construction equipment for a limited time. It assists those who are unable to purchase the construction equipment.

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Some of the major players operating in the construction equipment rental market are:

• H&E Equipment Services, Inc (U.S.)
• Cramo Group (Finland)
• Ramirent (Finland)
• Maxim Crane Works, L.P. (U.S.)
• Kiloutou Group (France)
• Sarens NV (Belgium)
• Taiyokenki Rental Co., Ltd. (Japan)
• Boels Rentals (Netherlands)
• Speedy Hire Plc (UK)
• United Rentals Inc. (U.S.)
• Ashtead Group Plc (UK)

Construction Equipment Rental Market Regional Analysis/Insights

The construction equipment rental market is analyzed and market size insights and trends are provided by country, equipment type, drive type, product type and application as referenced above.

The countries covered in the construction equipment rental market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

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