Construction Equipment Rental Market is Expected to Grow at a CAGR of 5.1% Over the 2024-2031 Forecast Period, Reaching US$ 165.1 billion - United Rentals Inc., Kanmoto Co Ltd., Herc Rentals Inc.

The Global Construction Equipment Rental Market reached US$ 112.3 billion in 2022 and is expected to reach US$ 165.1 billion by 2031, growing with a CAGR of 5.1% during the forecast period 2024-2031.

Construction Equipment Rental Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Construction equipment rental refers to the temporary leasing of heavy machinery and tools for building and infrastructure projects. This market includes equipment such as excavators, bulldozers, cranes, and loaders. Renting provides cost-effective solutions for contractors, reducing maintenance expenses and capital investments. The market is growing due to urbanization, infrastructure development, and the rising adoption of flexible rental models. Advances in telematics and IoT-enabled fleet management are enhancing equipment efficiency and utilization.

List of the Key Players in the Construction Equipment Rental Market:

United Rentals Inc., Kanmoto Co Ltd., Herc Rentals Inc., Hitachi Construction Machinery Co., Ltd, Caterpillar Inc., Loxam Group, Liebherr, H&E Equipment Services, Inc., Boels Rental and Ahern Rentals.

Industry Development:

On July 11, 2023, Cooper Equipment Rentals, based in Canada, announced the acquisition of Warner Rentals and Scotty's Rentals and Landscaping, further expanding its branch and specialty presence in western Canada. The acquisition of Warner Rentals enhances Cooper's service coverage in central British Columbia and strengthens its footprint in the rapidly growing western Canadian market.

Market Dynamics:

Infrastructure projects often require flexibility to accommodate changing demands and workloads, making equipment rental an attractive option as it allows for easy scaling and adaptation. Rental companies also provide technical support and operator training, ensuring safe and efficient equipment usage, particularly for complex machinery. According to the India Brand Equity Foundation, India aims to enhance its infrastructure by 2025, targeting a $5 trillion investment to improve transportation networks, including roads, railways, and airports, to enhance connectivity and boost trade. The growing construction industry and increasing demand for urban development present significant opportunities for the construction equipment rental market. For instance, on January 18, 2023, Doosan rebranded globally as DEVELON, reinforcing its commitment to providing innovative solutions for infrastructure development, manufacturing construction equipment for critical projects, and promoting sustainability through alternative energy sources.

Growth Forecast Projected:

The Global Construction Equipment Rental Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Construction Equipment Rental Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Construction Equipment Rental Market:

By Product: Earthmoving Equipment, Material-Handling Equipment, Heavy Construction Vehicles, Others

By Propulsion: Diesel, Gasoline, Construction Vehicles, Others

By Drive: Hydraulic, Electric, Hybrid

By Application: Residential, Commercial, Industrial, Infrastructure

Regional Analysis for Construction Equipment Rental Market:

The regional analysis of the Construction Equipment Rental Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Construction Equipment Rental market?

➠ Who are the leading manufacturers in the global Construction Equipment Rental industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Construction Equipment Rental industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Construction Equipment Rental market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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