MarkNtel Advisors – Leading Market Research Company found Global Construction Equipment Rental Market is expected to reach 5.8% CAGR Growth By 2030.
This report provides a comprehensive analysis of the Global Construction Equipment Rental Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.
Comprehensive Analysis of the Construction Equipment Rental Market
Base Year: 2023
Forecast Years: 2024-2030
Historical Years: 2019-2022
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Scope of the Construction Equipment Rental Market Report:
The Global Construction Equipment Rental Market size is estimated to grow at a CAGR of around 5.8% during the forecast period, i.e., 2024-30. The significant boost in government spending on public infrastructure development has ignited construction and mining activities across emerging economies globally. Consequently, the demand for construction equipment is high as a result of this factor. This surge in the price of new machinery is prompting contractors and other stakeholders to lean towards leasing options instead.
Which prominent factor is expected to drive the Construction Equipment Rental Market during 2024-30?
Increasing Adoption of Rental Equipment in Various Industries to Bolster the Market Growth – The construction industry's cyclical nature and current economic conditions make renting construction equipment an advantageous option. Numerous industries, including contractors as well as many firms, are increasingly inclined towards rental options versus purchasing new machinery. Industry leaders like BigRentz have noticed a significant shift in the trend toward rentals over ownership or leasing by builders and contractors alike. The looming threat of recession is also impacting this climate, with growing anticipation among business executives and economists that it may increase demand for rented resources while steering companies away from costly capital investments like buying or leasing their equipment.
Furthermore, due to the economic volatility and expenses involved, construction companies are careful with their costs. As a result, they strive to maximize the usefulness of equipment bought for optimal value. Consequently, renting equipment has become an appealing substitute that is fueling the growth of the market.
What are the different Segment Available in the Construction Equipment Rental Market?
By Equipment Type
- Earthmoving Equipment- Market Size & Forecast 2019-2030, (USD Million)
- Material Handling Equipment- Market Size & Forecast 2019-2030, (USD Million)
- Concrete and Road Construction- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
By Product Type
- Excavator- Market Size & Forecast 2019-2030, (USD Million)
- Loader- Market Size & Forecast 2019-2030, (USD Million)
- Grader- Market Size & Forecast 2019-2030, (USD Million)
- Bulldozer- Market Size & Forecast 2019-2030, (USD Million)
- Road Roller- Market Size & Forecast 2019-2030, (USD Million)
- Tipper- Market Size & Forecast 2019-2030, (USD Million)
- Forklifts- Market Size & Forecast 2019-2030, (USD Million)
- Cranes- Market Size & Forecast 2019-2030, (USD Million)
- Diesel Generator- Market Size & Forecast 2019-2030, (USD Million)
- Concrete Pumps- Market Size & Forecast 2019-2030, (USD Million)
- Concrete Mixers- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
By Application
- Residential- Market Size & Forecast 2019-2030, (USD Million)
- Commercial- Market Size & Forecast 2019-2030, (USD Million)
- Industrial- Market Size & Forecast 2019-2030, (USD Million)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
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Leading Construction Equipment Rental companies operating in the Market
- Caterpillar Inc.
- United Rentals, Inc.
- Sennebogen
- Komatsu Ltd.
- CNH Industrial N.V.
- Loxam
- Ramirent Plc.
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- Herc Rentals Inc.
- H&E Equipment Service
- Nishio Rent All Co. Ltd.
- Nikken Corporation
- Sunbelt
- Taiyokenki Rental Co., Ltd.
- AKTIO Corporation
- Others.
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