Construction Equipment Rental Market Scope
The construction equipment rental market refers to the market for the rental of heavy construction equipment, such as bulldozers, excavators, cranes, and backhoes. These types of equipment are typically used in the construction, mining, and oil and gas industries. The construction equipment rental market is a growing market, as more and more construction companies and contractors are opting to rent equipment instead of purchasing it outright. Renting equipment can be a cost-effective solution for companies that do not have the financial resources to make large upfront purchases, or for companies that only need the equipment on a temporary basis. There are a number of companies that specialize in the rental of construction equipment, both at the local and national level. The construction equipment rental market will reach USD 121.6 billion by 2024, at a CAGR of 4.3% from 2019 to 2024. The research report on Construction Equipment Rental Market provides analysis by Equipment (Earthmoving, Material Handling, Road Building & Concrete), Product (Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Compactors, Concrete Pumps), Region – Global Forecast to 2024.
The construction equipment rental market report provides detailed information about the market overview, prevalent trends, demand, and recent developments impacting the market growth in the coming years. Construction Equipment Rental Market opportunities analysis, strategic growth analysis, product launches, marketplace expanding, and technological innovations are also highlighted. The report uncovers Construction Equipment Rental market size, potential growth, trends and expansion strategies.
Construction Equipment Rental Market Key Players
- United Rentals Inc. (US)
- Ashtead Group Plc (UK)
- Loxam (Paris)
- Herc Holdings Inc. (US)
- Aktio Corporation (Japan)
- Nishio Rent All Co. Ltd. (Japan)
- Kanamoto Co. Ltd. (Japan)
Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=225391699
Construction Equipment Rental Market Drivers
There are several factors that can drive the construction equipment rental market:
- Construction activity: The construction industry is a major driver of the construction equipment rental market. When there is an increase in construction activity, there is often a corresponding increase in the demand for rental equipment.
- Cost: Renting construction equipment can be more cost-effective than purchasing it, especially for small construction firms or those that only need the equipment for a short period of time.
- Lack of storage space: Some construction firms may not have the space to store large pieces of equipment, making rental a more practical option.
- Limited capital: Renting equipment allows construction firms to access the equipment they need without having to make a large upfront investment.
- Flexibility: Renting construction equipment allows firms to quickly and easily access a wide range of equipment as needed, providing them with flexibility to adapt to changing project requirements.
- Government regulations: Some governments may have regulations that encourage or require the use of rental equipment in order to reduce the environmental impact of construction projects.
Construction Equipment Rental Market Restraint
- Susceptibility of the construction industry to an economic recession
Construction Equipment Rental Market Segmentation
The construction equipment rental market can be segmented in several ways, including by equipment, product and region
On the basis of equipment:
- Earthmoving
- Material Handling
- Road Building & Concrete
The earthmoving construction equipment segment is projected to lead the market during the forecast period
Based on equipment, the construction equipment rental market is categorized into earthmoving, material handling, and road building & concrete. Among these, earthmoving construction equipment accounted for the largest share of the construction equipment rental market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=225391699
On the basis product:
- Backhoes
- Excavators
- Loaders
- Crawler Dozers
- Cranes
- Concrete Pumps
- Compactors
- Transit Mixers
- Concrete Mixers
- Others
Excavators segment to lead the construction equipment rental market during the forecast period
Based on product, the construction equipment rental market is categorized into excavators, backhoes, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, concrete mixers, and others (asphalt pavers, finishers, dump trucks, industrial trucks, etc.).
On the basis of region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
North America is projected to be the largest market for construction equipment rental during the forecast period
Based on region, the construction equipment rental market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these, North America accounted for the largest share of the market.
View Full Report with TOC & List of Figure: https://www.marketsandmarkets.com/Market-Reports/construction-equipment-rental-market-225391699.html
Why Choose MNM?
- Authentic Method: To ensure high-level data integrity, accurate analysis, and impeccable forecasts
- Agile Approach: A faster and efficient way to cater to the needs with continuous iteration
- Targeted Market View: Targeted market view to provide pertinent information and save time of readers
- Analyst Support: For complete satisfaction of our customers
- Customization: Customization of the report’s scope as needed to meet your requirements in full
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
