Press release
Construction Equipment Rental Market is projected to reach USD 220 billion by 2032, Size, Share, Trend Analysis Report
Allied Market Research published a report on the global construction equipment rental market that estimates the industry to reach $220.7 billion by 2032, rising at a CAGR of 6.6% from 2023 to 2032. It was evaluated at $93.5 billion in 2018.
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The study offers a vivid picture of various forces that control business operations across the globe. It highlights the drivers and restraining factors and spots opportunities for future growth. According to the report, the rise in the construction of commercial buildings like offices and shopping malls is leading to a greater demand for heavy machinery. Regular maintenance of this equipment raises operational costs, including skilled labor and fuel. Rental companies, on the other hand, help to reduce these costs by providing trained operators and covering fuel expenses.
This boosts the expansion of the landscape. However, currently, there is a saturation of building and construction undertakings in developed countries. The number of new projects is significantly declining, which is anticipated to hamper industry expansion.
Nevertheless, inexpensive rents, easy assimilation, and smooth mobility are expected to make them more preferred than new ones. Moreover, renting firms can now trace the operations and functions of IoT-embedded equipment. Furthermore, IoT assistance to inexperienced labor and increased productivity is projected to guarantee budget-friendly, timely delivery with the least security concern. This is expected to bring profitable opportunities in the upcoming years.
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Request Sample - Construction Equipment Rental Market by Application, by Product, by Propulsion System : Global Opportunity Analysis and Industry Forecast, 2023-2032 (alliedmarketresearch.com)
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Internal combustion engines remain prevalent due to their power and portability, providing users with options between lightweight gasoline engines, and durable diesel engines designed for off-road applications. Gasoline engines are often preferred for small equipment due to their straightforward design and rapid warm-up time, while diesel engines excel in torque and efficiency when handling heavy loads. Technological advancements are projected to make hydrogen combustion a feasible solution for lowering emissions as businesses aim for carbon neutrality by 2050.
The Asia-Pacific region is witnessing substantial growth in infrastructure and construction, driven by government initiatives promoting a sustainable economy. The establishment of Special Economic Zones, hydroelectric projects, and rapid urbanization are raising the need for affordable housing, especially in India. Major construction equipment manufacturers are expanding their fleets and capabilities to address the situation. It is supported by an ambitious infrastructure investment plan of USD 1.4 trillion set for 2025.
MyCrane, the online crane rental service based in Dubai started its U.S. operation in December 2023. It also expanded its presence in Saudi Arabia before this. The company has over 3,000 registered users and provides access to more than 15,000 cranes available for hire on its free-to-use platform.
Full Report With TOC: https://www.alliedmarketresearch.com/construction-equipment-rental-market-A06656
To sum up, the construction equipment rental market is expected to grow due to a rising number of infrastructure projects globally. The AMR report offers valuable insights to assist business owners in developing effective strategies for future expansion and meeting their growth objectives.
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Electric Construction And Agriculture Equipment Market: https://www.alliedmarketresearch.com/electric-construction-and-agriculture-equipment-market-A290152
Construction Dumper Market: https://www.alliedmarketresearch.com/construction-dumper-market
Construction Machinery Attachment Market: https://www.alliedmarketresearch.com/construction-machinery-attachment-market-A31891
underground construction equipment market: https://www.alliedmarketresearch.com/underground-construction-equipment-market-A53682
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry
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