Construction equipment

Global Heavy Construction Equipment Rental Market to Surpass $117.78 Billion by 2030

DUBLIN, August 12, 2022 /PRNewswire/ — The report “Heavy Construction Equipment Rental Market by Equipment, By End User, By Application: Global Opportunities Analysis and Industry Forecast, 2020-2030” has been added to from ResearchAndMarkets.com offer.

The heavy construction equipment rental market was valued at $76,371.9 million in 2020, and should reach $117,788.8 million by 2030, registering a CAGR of 4.3% from 2021 to 2030. Heavy equipment leasing is a service that allows end users to rent construction equipment for a certain period by signing a contract with terms and Terms of use.

Heavy equipment and machinery are used for heavy equipment work such as material handling, excavation, lifting and other heavy duty work. Construction machinery is mainly used to facilitate heavy work on mine construction sites. There are different types of heavy equipment on the market. Nevertheless, choosing the right construction equipment is very important. When choosing heavy equipment, companies consider factors such as material, quality, project complexity, and safety.

The expansion of the heavy construction equipment rental industry is fueled by the increase in construction and mining activities in the emerging economies of Latin America and Africa. The United States government has invested heavily in the development of highways, railroads, airports and other infrastructure, requiring the use of excavators, loaders and other heavy equipment. For example, US President Trump announced a 2 trillion dollars infrastructure plan in March 2021which covers roads, telecommunications, the power grid and residential and commercial buildings.

These elements create huge opportunities for the rental market. In addition, additional expenses paid for equipment maintenance, excessive operating costs and expensive remuneration of trained operators can be avoided by renting the equipment for an appropriate period, which greatly contributes to the growth of the global market. Additionally, large upfront expenses required for purchasing equipment, along with financial constraints, can be avoided by leasing equipment, which is driving the growth of the market.

The lack of skilled labor on the global market is a major brake on growth. Another problem hindering market expansion is the saturation of construction and mining industries in industrialized countries.

Manufacturers design innovative equipment that is both economical and durable. For example, Doosan Infracore, introduced a 100 ton excavator model in March 2021. It uses an electronic integrated hydraulic system and intelligent power regulation. It runs on in-house developed fuel optimization technology to maximize fuel efficiency and delivers perfect working performance with no loss of power or speed. Additionally, the integration of IoT helps to alleviate skilled labor shortages as well as improve operator and end-user safety. During the forecast period, these aspects are expected to provide lucrative opportunities for market growth

Main benefits for stakeholders

  • This report provides quantitative analysis of market segments, current trends, estimates and dynamics of heavy construction equipment rental market analysis from 2020 to 2030.
  • Market research is offered with information related to key drivers, restraints, and opportunities.
  • Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
  • An in-depth analysis of the heavy construction equipment rental market forecast segmentation helps to determine the current heavy construction equipment rental market opportunities.
  • Major countries in each region are mapped according to their revenue contribution in the global market.
  • The positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
  • The report includes analysis of regional and global heavy construction equipment rental market trends, key players, market segments, application areas and market growth strategies.

Key market segments
By equipment

  • earthmoving equipment
  • Handling equipment
  • Heavy construction vehicles
  • Others

Per end user

  • Infrastructure
  • Construction
  • Mining
  • petroleum gas
  • Manufacturing
  • Others

By request

  • Excavation Demolition
  • Lifting heavy loads
  • dig a tunnel
  • Material handling
  • Recycling Waste management

By region

  • North America
  • WE
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Europe
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Main market players

  • Ashtead Group plc. (Sunbelt Rentals Ltd)
  • Rental Boels
  • H&E Equipment Services
  • Haulotte Group
  • Herc Rental Inc.
  • Kanamoto Co., Ltd.
  • Loxam (Ramient)
  • Sarens nv/sa
  • Sumitomo Corporation (Sunstate Equipment Company)
  • United Rentals, Inc.

Main topics covered:

CHAPTER 1 INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: HEAVY CONSTRUCTION EQUIPMENT RENTAL MARKET, BY EQUIPMENT

CHAPTER 5: HEAVY CONSTRUCTION EQUIPMENT RENTAL MARKET, BY END USER

CHAPTER 6: HEAVY CONSTRUCTION EQUIPMENT RENTAL MARKET, BY APPLICATION

CHAPTER 7: HEAVY CONSTRUCTION EQUIPMENT RENTAL MARKET, BY REGION

CHAPTER 8: CORPORATE LANDSCAPE

CHAPTER 9: COMPANY PROFILES

For more information about this report visit https://www.researchandmarkets.com/r/h2ifmz

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