Global Construction Equipment Rental Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Construction Equipment Rental Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global construction equipment rental market report has been segmented on the basis of product type, end use, and the region.
Global Construction Equipment Rental Market: Overview
Construction equipment is also known as heavy equipment which is specially designed for performing construction operations. This equipment is used for different functions such as hauling, drilling, paving, grading, and excavating. Such machinery covers different industries including oil & gas, manufacturing, military, and forestry.
Global Construction Equipment Rental Market: Dynamics
Increasing urban population demanding for better infrastructure facilities along with technological advancements in heavy machinery with advanced features are some factors expected to drive growth of target market. In addition, safety and security features such as lane departure warning, automated brake systems, and adaptive cruise control to ensure driver safety are some factors expected to fuel growth of construction equipment rental market. Furthermore, strict regulations, financial constraints, and increasing cost of construction equipment are impacting positively the global construction equipment rental market.
A recent trend observed in the target market is many vendors are providing various types of equipment on rental basis as per the requirement. Moreover, renting heavy construction equipment such as excavators and loaders are expected to boost target market growth. Also, rental companies focusing on appropriate tests and inspections on rental equipment to improve safety aspect.
On the other hand, fluctuating fuel prices and expenditure related to picking up and delivering machinery in remote areas are factors may restrain growth of target market.
Global Construction Equipment Rental Market: Segment Analysis
Among the product type segments, the material handling machinery segment is expected to account for major revenue contribution in the global market.
Among the end use segments, the lifting & material handling segment is projected to register a significant growth rate over the forecast period.
Global Construction Equipment Rental Market: Regional Analysis
The market in Asia Pacific is expected to dominate construction equipment rental market over the forecast period with a significant CAGR. In addition, substantial growth in developing countries such as India and China owing to government initiatives, continued privatization, increasing health and safety regulation. In addition, growing construction sector and increasing investments for infrastructure development in countries such as India and ASEAN Countries (such as Indonesia, Vietnam, Malaysia, Singapore) supporting the growth for construction equipment rental market. The project includes the construction of bridges, dams, hospitals, government buildings, and schools. Developing countries such as China and India are focusing to develop better street. For example, China’s “One Belt, One Road" activity and Indian government's road projects under “Bharatmala” is expected to amplify business and trading opportunities. For instance, In Feb 2019, The Building and Construction Authority (BCA) introduced a Construction Productivity and Capability Fund (CPCF) are investing around US$ 800 Mn to boost construction sector.
Global Construction Equipment Rental Market Segmentation:
Segmentation by Product Type:
- Earthmoving machinery (Loading shovels, Excavators, and Site dumpers)
- Material handling machinery (Pallet trucks, forklifts, conveyors, platform trucks, hand trucks, cranes, and others)
- Concrete & road construction (Trenchers, Pavers, rollers and others)
Segmentation by End-Use
- Lifting & material handling
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Zahid Group.
- Industrial Supplies Development Co. Ltd
- C. Bamford Excavators Limited (JCB)
- Ahern Equipment Rentals
- Caterpillar Inc.
- Gemini Equipment and Rentals (GEAR)
- Hertz Corporation
- John Deere
- Komatsu Equipment
- Maxim Crane Works
- Neff Rental, Inc.
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