Construction Equipment Rental Market Size, Share, Trends, Competitive Analysis, And Outlook By 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Construction Equipment Rental Global Market Report 2023 identifies growing construction industry as the major driver for the construction equipment rental market's growth in the forecast period. The construction industry is rising because of ongoing urbanization, impending infrastructural projects, and a growing population base. The construction sector uses a variety of construction equipment such as tower cranes, bulk material handling, transit mixers, batching plants, concrete pumps, and others. Renting this equipment helps contractors reduce the cost of purchase and maintenance.

The global construction equipment rental market size grew from $95.23 billion in 2022 to $100.1 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The construction equipment rental market size is expected to grow to $121.76 billion in 2027 at a CAGR of 5.0%.

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Major competitors in the construction equipment rental market are H&E Equipment Services, Inc., Maxim Crane Works, L.P., Boels Rentals, United Rentals Inc., Ashtead Group PLC., Loxam.

A key trend in the construction equipment rental market includes replacing conventional equipment with telematics-integrated machinery. Telematics is integrated into the construction equipment for GPS fleet tracking, maximizing fleet utilization, safeguarding equipment from theft, improving billing, equipment utilization, and others. For instance, in 2020, Appareo, a US-based manufacturer of electronic and software solutions, launched a cellular asset tracking device for off-highway equipment called AT-130 (IP69K). The device is embedded with GPS and cellular capabilities have a high battery life and can withstand high pressure. The high-performance positioning and motion-sensing capabilities ensure that motion-based reporting is done based on true machinery repositioning, which helps to extend the battery life of the equipment and reduce false alarms.

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The construction equipment rental market is segmented -
1) By Equipment: Earthmoving, Material Handling, Road Building And Concrete

2) By Product: Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers

3) By Application: Residential, Commercial, Industrial

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the construction equipment rental market.

The Business Research Company's "Global Construction Equipment Rental Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Construction Equipment Rental Market Include:
1. Executive Summary
2. Construction Equipment Rental Market Characteristics
3. Construction Equipment Rental Market Trends And Strategies
4. Construction Equipment Rental Market - Macro Economic Scenario
5. Construction Equipment Rental market Size And Growth
………
26. Africa Construction Equipment Rental market
27. Construction Equipment Rental market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Construction Equipment Rental market
29. Construction Equipment Rental market Future Outlook and Potential Analysis
30. Appendix

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