Bulldozer Rental Market Forecast and CAGR
According to latest research conducted by Fact.MR bulldozer rental market is expected to grow with single digit CAGR during forecast period 2021-2031. During forecast period investments from government and private construction companies will increase developments like commercial, residential & industrial projects, forestry & agriculture activities which will together thrive global demand in this dynamic business.
Bulldozer Rental Market Overview.
Bulldozers plays pivot role in the construction and mining industries globally. It is most evidently used equipment in building business, residential construction, waste management applications both for surface and underground mining use cases. Business has remained flourished with these top bottom application portfolio and bolster overall business potential.
Procurement of bulldozers for rental service not only saves the cost associated with new bulldozers but also decreases the other expenses such as maintenance cost, operational cost, labor cost along with reduction in repairing costs also. Companies providing bulldozer for rental perform all these tasks frequently to maintain equilibrium of trust between end use industries and companies and to witness long term profits.
These companies are focusing on providing onsite services and support for equipment, which further improves customer’s experience. Moreover, the rental companies often upgrade their bulldozers on regular basis to provide customers upgraded and advanced bulldozers. These offering had constantly portrayed significant demand potential and flourish the growth curve during long term forecast period.
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COVID-19 Impact on Bulldozer Rental Market
COVID-19 pandemic has stopped all industrial activities including construction, manufacturing along with agriculture activities which results into decreased demand for bulldozers. Reduced demand from end use industries has directly affected on rental services providing companies. Pandemic had massive effects on global supply chains and therefore construction and manufacturing industries are facing major impact during the historic timeframe.
After resuming all activities steadily demand for machinery is increasing, where mining and construction industries uses more digging machines than the other industries to aid the global demand. This results into increased demand for bulldozer rental business.
Demand Driver for Bulldozer Rental Market
Many manufacturing industries, rental companies along with associated manufacturers are exploring more rental options to proliferate the global demand. Many business leaders and economists predicts economic collapse to be on the horizon, which may further fuel demand for rental services during longer term forecast period.
There are several cost associated with the purchase of new bulldozers, equipment ownership cost, initial asset cost, repair and maintenance costs are fueling the consumption potential of rental services globally. End use industries are suspicious such costs, economic variations will make it difficult for organization to fully utilize bulldozers.
Rental services thus portraying upper hand in its offering to reduce overall cost. Further the elevating product offering by end users are deeply acknowledged by these rental services company and caster consumption potential globally.
Relatively low rental service suggests a significant business opportunity for rental companies to increase their business infrastructure. Furthermore, high rental services indicates the business is saturated and will only expand overall fleet expansion rate globally. Countries such as India and China have high demand for bulldozer rental services instead of buying new bulldozers.
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North America and Latin America Bulldozer Rental Market Overview
North America is leading the global rental service business and growth is credited with notable presence of rental service providers in Canada and US. Moreover, the marginal development in the infrastructure and residential construction business with growing investments in this region are predicted to fuel the demand for rental business.
Furthermore, North America’s road infrastructure projects are expected to create a stable flow of incomes in this rental service business.
Asia Pacific Bulldozer Rental Market Overview
Asia Pacific region is projected to account significant share and it will continue to dominate in both rental service and end users during long term forecast period. The region witnessed growth in mining activities, constructions and constantly prosper the global business. In construction industry bulldozers are used for only initial activities so they are preferring for short term rental services thus support the global growth curve.
Furthermore, forestry and agriculture industries are selecting rental services for applications such as surface leveling, removing tree, etc. These are constantly portraying significant opportunities in this dynamic market.
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Who are the Key Bulldozer Rental Service Providers?
Some of the leading bulldozer rental service providers are
- Mohamed Abdulrahman Al-Bahar
- The Liebherr Group.
- Ashtead Group
- Herc Rentals
- Hire Direct
- Green Rentals
Most of rental service providers are providing customized service based on customer requirements for short term and long term bulldozer rental services which drives the bulldozer rental market.
Bulldozer Rental Market Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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By Bulldozer Type
- Crawler Bulldozer
- Wheel Bulldozer
- Mini Bulldozer
- Port Handling Bulldozer
By Operating Weight
- < 20,000 lb
- 20,000 - 60,000 lb
- 60,000-150,000 lb
- >150,000 lb
- Surface leveling
- Rough Grading
- Removing Trees
By End-use Industry
- Forestry & Agriculture
- Other industries
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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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.
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