Global Construction equipment rental market trends research and projections for 2019- 2024
A detailed analysis of the Construction Equipment Rental Market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the Construction Equipment Rental Market report also contains information on the pivotal industry insights for core players to look out for.
Construction Equipment Rental Market size is set to exceed USD 140 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing residential & commercial construction projects globally are anticipated to drive the construction equipment rental market. Improving standards of living and increasing disposable income of people across the emerging economies have led to increased investments in malls & amusement parks, generating demand for the rental industry. Rising reconstruction activities in the U.S. followed by the aging infrastructures are propelling the need to replace it with sturdy structures is propelling the growth of around 3.5% CAGR in the U.S. construction equipment rental market growth. The demand for modernized structures has paved way for smart buildings & smart cities, compelling various regional governments to heavily invest in the infrastructure development.
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Product analysis:
Product segmentation: The report claims that the Product landscape of the Construction Equipment Rental Market is subdivided into –
Earthmoving & Road Building Equipment
Material Handling & Cranes
Concrete Equipment
Important pointers encompassed pertaining to the Product spectrum:
Major details about the Product spectrum are provided in the report.
The study elaborates on the remuneration forecast of each of the Product categories by the end of the anticipated duration.
The market share which each of the Product segments account are mentioned in the study.
Also, the most proliferating trends that the Product spectrum is characterized by are also entailed.
The earthmoving & road building equipment segment dominated the construction equipment rental market with a revenue share of over 65% in 2017 is continue grow due to the increasing large-scale construction projects globally. Rapid urbanization has led to the growth in the demand for such equipment in commercial and residential construction activities. Earthmoving equipment such as backhoes, loaders, and excavators find applications for residential and commercial construction works. Excavators are gaining popularity due to the increasing use of such equipment in the surface level and below-ground operations, surging their demand for construction & mining activities.
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Regional analysis:
Regional segmentation: The report states the Regional landscape of the Construction Equipment Rental Market to be split into –
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Important pointers encompassed pertaining to the Regional spectrum:
Substantial details about the Regional spectrum are provided in the report.
The study mentions about the valuation estimate of each of the Regional categories in detail, by the end of the forecast period.
The market share that each of the Regional segments account are mentioned in the study.
The trends that the Regional landscape is defined by are also contained in the report.
Europe construction equipment rental market is expected to grow at a CAGR of over 4.5% owing to the shifting trend among European construction companies to rent rather than purchasing equipment. Several countries in Europe including Russia, Spain, and Italy are recovering from the economic crisis, following which the construction sector is gaining stability across these regions. Countries including France and Spain are showing a steady growth due to the increasing number of construction projects in the region. The degree of penetration of rental companies is comparatively less in Germany owing to companies in the region still preferring to own machinery than renting. However, the presence of major companies, such as Loxam, trying to expand their market presence in Europe is expected to boost the construction equipment rental market growth.
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The construction equipment rental market is highly competitive with the presence of key players such as Cramo PLC, Ashtead Group, Blueline Rental LLC, Nesco Rentals, Riwal, Herc Holdings, Caterpillar, Inc., Shanghai Hongxin Equipment Engineering Co., Ltd., Ahern Rentals, Inc., Loxam Group, and United Rentals. Companies are trying to incorporate the latest advanced technologies such as GPS, RFID, and telematics, into their construction equipment to offer enhanced rental solutions. Furthermore, rental operators are stressing on providing sophisticated on field and online certified training courses for the safety of operators.
The Construction Equipment Rental Market research report presents significant information on the methodology deployed to conceptualize the study in question, by means of various primary and secondary sources. The scope of the report and the elements contained in the same with respect to the growth spectrum of the Construction Equipment Rental Market has been discussed in the study. Also mentioned in the document are details pertaining to the financial data of the companies profiled in the report, in addition to the currently prevalent price trends of the Construction Equipment Rental Market.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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