27-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Construction Equipment Rental Market By Equipment (Material Handling, Road Building & Concrete, and Earthmoving), By Product (Compactors, Excavators, Crawler Dozers, Concrete Mixers, Backhoes, Concrete Pumps, Cranes, Transit Mixers, Loaders, and Others), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global construction equipment rental market in 2019 was approximately USD 100 Billion. The market is expected to grow at a CAGR of nearly 4.5% and is anticipated to exceed USD 130 Billion by 2026.
Many builders and construction companies need giant construction equipment during their project durations. Hence, they prefer using rental construction equipment for the short-term rather than investing huge piles on purchasing those giant machinery. This has led to a remarkable increase in the demand for rental construction equipment across the globe. The rental construction equipment market is witnessing major growth due to the constant establishment in transportation, oil & mining, and housing sectors.
Browse the full “Construction Equipment Rental Market By Equipment (Material Handling, Road Building & Concrete, and Earthmoving), By Product (Compactors, Excavators, Crawler Dozers, Concrete Mixers, Backhoes, Concrete Pumps, Cranes, Transit Mixers, Loaders, and Others), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026"https://www.fnfresearch.com/global-construction-equipment-rental-market-by-equipment-material-959
Moreover, the increasing count of smart city projects worldwide, especially in Europe and the Asia Pacific will generate new avenues for the construction equipment rental industry. The construction equipment rental services not only slash the project costs by evading the huge investment in purchasing expensive construction equipment but also facing lower technical and maintenance charges on a rental basis. Also, with the roll-out of IoT and telematics-based advanced equipment by the rental services providers, the global demand for the construction equipment rental industry has been further grown.
By equipment, the earthmoving segment is likely to dominate the global construction equipment rental market in the coming years
The construction equipment rental market, based on equipment, is bifurcated into material handling, earthmoving, and road building & concrete. Among all, earthmoving construction equipment held the major volume & revenue share of the global construction equipment rental industry in 2019. The key factors behind the dominance of earthmoving equipment in the market are its wide acceptability, ease of operation, mobility feature, and most important is the negligible rental amount compared to the market value of huge excavators.
The “cranes” category of the product segment will witness a remarkable CAGR in the construction equipment rental market during the study timeframe
Cranes are extensively used in a quite large number of sectors including building & construction, rescue operations, transportation, loading & unloading, water body cleaning projects, and a lot more. Due to the high purchase and maintenance costs, the vendors including builders and other project holders prefer hiring the cranes on a rental basis. Over 60% of the current fleet of the construction equipment is acquired by rental services providers, thereby flourishing the global construction equipment market.
Some of the key players driving the global construction equipment rental market are Ashtead Group Plc, Nikken Corporation, Kanamoto Co. Ltd., United Rentals Inc., Nishio Rent All Co. Ltd., Loxam, Ahern Rentals, Herc Holdings Inc., and Aktio Corporation, among others.
This report segments the global construction equipment rental market as follows:
Global Construction Equipment Rental Market: Equipment Segmentation Analysis
- Material Handling
- Road Building & Concrete
Global Construction Equipment Rental Market: Product Segmentation Analysis
- Crawler Dozers
- Concrete Mixers
- Concrete Pumps
- Transit Mixers
Global Construction Equipment Rental Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Facts & Factors
Level 8, International Finance Center, Tower 2,
8 Century Avenue, Shanghai,
Postal - 200120, China
Tel: +86 21 80360450