Construction Equipment Rental Market to Grow 1.6X
The exorbitant cost of construction equipment, coupled with expensive equipment maintenance services is set to give tailwinds to construction equipment rental services.
Enhanced product offerings from original equipment manufacturers such as equipment service tracking, lift assist, 360 vision, and smart work lights are increasing the cost of construction equipment.
On the back of this surging cost, and high capital intensive maintenance, construction companies, and contractors prefer rental services to cut costs and increase efficiency. The global construction equipment market is projected to grow at 4.5% CAGR from 2019 to 2029.
Earth Moving Machinery to Strengthen Demand for Construction Equipment Rental Services
Resurgent oil & energy exploration projects is driving the demand for earth moving machinery. This segment accounts for a majority share of more than 60% of the total market revenue.
Budding ecosystem of small builders and contractors in developing economies is leading to high demand growth for earth moving machinery, as these builders/contractors prefer rental services over purchase costly equipment.
However, the highest growth prospects can be traced to material handling machinery products. The material handling machinery segment is expected to grow at a healthy 6% CAGR through 2029.
Know More Details About the Report
North America Leads Global Sales, South Asia & Oceania offer Remunerative Prospects
North America accounts for the largest share of over 49% of the total market value. Early adopters in this region are witnessing a surge in mining and construction activities.
For instance, shale gas exploration in countries such as the US and Canada drive the demand for earth moving machinery in this region.
Similarly, the resurgent construction industry in major North American countries will drive the demand for construction equipment rental services during the forecast period.
East Asia and South Asia & Oceania offers the most lucrative growth opportunities with an impressive 7% CAGR from 2109 to 2029.
Booming infrastructure development in countries such as India, Indonesia, and China act as main drivers of demand for construction equipment rental services.
Onsite Services and Support to Gain Momentum
The market for construction equipment rental services is highly consolidated with top 5 organizations accounting for a majority market value share.
Capacity expansion through procurement of new equipment, strategic partnerships, mergers, and acquisitions is projected to shape the competitive landscape during the forecast period.
Onsite services and support is a prevalent strategy being adopted by major players in the market. Companies are also focusing on procuring the latest construction equipment to enhance their product portfolio.
Partner programs that enable construction equipment rental companies to provide onsite services and support act as a differentiating factor amid a highly competitive landscape.
Major players that are currently operating in the construction equipment rental market are, but not limited to
- 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.
Avail customized purchase options for your needs
Global Construction equipment rental Market: In-Depth Assessment on Key Segments
The global construction equipment rental market is segmented on the basis of product type and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for construction equipment rental has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous construction equipment rental manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global construction equipment rental market.
Global Construction Equipment Rental Market – Scope Of The Report
The following report provides forecast and analysis of the global construction equipment rental market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and, according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global construction equipment rental market along with several macro-economic indicators.
This newly published and insightful report on construction equipment rental sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global construction equipment rental market.
The report also comprises the study of current issues with end users and opportunities for construction equipment rental. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of construction equipment rental manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the construction equipment rental market provided in the report adds to the credibility of this exhaustive research study.
Global Construction Equipment Rental Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes.
Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the construction equipment rental market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the construction equipment rental market, which includes global GDP growth rate, building and construction industry growth rate, and others.
This report serves as an authentic resource of intelligence on the construction equipment rental market, enabling the readers to take fact-based decisions on the future direction of their businesses.
Need an Exclusive Report for your Unique Requirement?
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.