DUBLIN, June 22, 2022 /PRNewswire/ — The “Construction Equipment Rental Global Market Report 2022” has been added to from ResearchAndMarkets.com offer.
This report provides strategists, marketers, and senior management with the essential information they need to assess the global construction equipment rental market.
This report focuses on the construction equipment rental market which is experiencing high growth. The report gives a guide to the construction equipment rental market that will shape and change our lives over the next decade and beyond, including the markets response to the challenge of the global pandemic.
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Key players in the construction equipment rental market are H&E Equipment Services, Inc, Maxim Crane WorksLP, Boels Rentals, United Rentals Inc., Ashtead Group Plc, Loxam, Herc Holdings Inc., Aktio Corporation, Kanamoto Co. Ltd., Taiyokenki Rental Co., Ltd., Cramo, Ramirent Plc, Kiloutou, Speedy Hire Plc, Nishio Rent All Co. Ltd., The Hertz Corporation, Ahern Rentals and Nikken Corporation
The global construction equipment rental market is expected to grow from $90.60 billion in 2021 for $94.81 billion in 2022 at a compound annual growth rate (CAGR) of 4.64%. The growth is primarily due to businesses resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote work and the closure of business activities that have resulted in operational challenges. The market should reach $114.24 billion in 2026 at a CAGR of 4.77%.
The construction equipment rental market includes sales of construction equipment products by entities (organizations, sole proprietors, partnerships) that rent construction-related machinery, equipment and tools to other contractors and professionals for a flat rate on a daily, weekly or monthly basis. . Leasing construction equipment saves construction contractors the cost of new equipment, labor cost, maintenance cost and operation cost.
Major construction rental equipment includes earthmoving, material handling, and road and concrete construction. Earthmoving construction equipment moves soil and other materials on a heavy construction site in preparation for building construction. Different construction equipment rental products include backhoes, excavators, loaders, crawler bulldozers, cranes, concrete pumps, compactors, transit mixers and cement mixers which are used in residential applications , commercial and industrial.
North America was the largest region in the construction equipment rental market in 2021. Asia Pacific is expected to be the fastest growing region during the forecast period. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth in the construction industry is expected to propel the growth of the construction equipment rental market in the future. The construction industry is growing due to ongoing urbanization, impending infrastructure projects, and a growing population. The construction industry uses a variety of construction equipment such as tower cranes, bulk material handling, transit mixer, concrete plant, concrete pumps and others.
Renting this equipment helps contractors reduce purchase and maintenance costs. According to the Global Construction Review report released in 2021, construction will be a driver of global economic growth in the decade to 2030, with production estimated to be 35% higher than in the previous ten years to 2020 Hence, the growing construction industry will drive the growth of the construction equipment rental market.
The replacement of conventional equipment with integrated telematics machinery is a rising trend in the construction equipment market. Telematics is integrated into construction equipment for GPS-based fleet tracking, optimizing fleet utilization, protecting equipment against theft, improving billing, utilization equipment and others.
Main topics covered:
2. Characteristics of the construction equipment rental market
3. Construction Equipment Rental Market Trends and Strategies
4. Impact of COVID-19 on rental of construction equipment
5. Construction Equipment Rental Market Size and Growth
5.1. Global historic construction equipment rental market, 2016-2021, in billions of dollars
5.1.1. Market Drivers
5.1.2. Market Constraints
5.2. Global Construction Equipment Leasing Market Forecast, 2021-2026F, 2031F, USD Billion
5.2.1. Market Drivers
5.2.2. Market Constraints
6. Construction Equipment Rental Market Segmentation
6.1. Global construction equipment rental market, segmentation by equipment, historical and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
- Material handling
- Road construction and concrete
6.2. Global construction equipment rental market, segmentation by product, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
- Crawler bulldozers
- Concrete pumps
- Transit mixers
- concrete mixers
6.3. Global construction equipment rental market, segmentation by application, history and forecast, 2016-2021, 2021-2026F, 2031F, billions of dollars
7. Regional and Country Analysis of Construction Equipment Leasing Market
7.1. Global construction equipment rental market, split by region, historical and forecast, 2016-2021, 2021-2026F, 2031F, in USD billion
7.2. Global construction equipment rental market, split by country, historical and forecast, 2016-2021, 2021-2026F, 2031F, in USD billion
For more information about this report visit https://www.researchandmarkets.com/r/3eufj5
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SOURCE Research and Markets