Construction Equipment Rental Market: Global Size, Trends, and Key Players by 2024
Uncover trends in the construction equipment rental market, analyzing demand factors, key players, and the impact of economic fluctuations on rentals.
The study of the global Construction Equipment Rental Market is presented in the report, which is a thoroughly researched presentation of the data. The analysis delves into some of the key facets of the global Construction Equipment Rental Market and shows how drivers like pricing, competition, market dynamics, regional growth, gross margin, and consumption will affect the market’s performance. A thorough analysis of the competitive landscape and in-depth company profiles of the top players in the Construction Equipment Rental Market are included in the study. It provides a summary of precise market data, including production, revenue, market value, volume, market share, and growth rate.
The best investment markers are insights into the most prominent market trends, which help potential participants make decisions even easier. The research aims to discover the numerous growth chances that readers may take into consideration and take advantage of using all the necessary information. The market growth over the coming years can be predicted with greater accuracy by carefully examining the important growth-influencing aspects including pricing, production, profit margins, and value chain analyses.
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Market Summary:
The global construction equipment rental market size was valued at USD 120.86 billion in 2023. The market is projected to grow from USD 126.15 billion in 2024 to USD 200.85 billion by 2032, exhibiting a CAGR of 6.0% during the forecast period.
The Construction Equipment Rental Market has grown significantly due to factors such as increased product demand, an expanding client base, and technological advancements. This report provides a comprehensive overview of the industry, covering market size, trends, key drivers and challenges, competition dynamics, and potential growth opportunities. Recent Industry Developments:
- Herc Holdings Inc. acquired Rapid Equipment Rental Limited, a Toronto-based rental company.
- H&E Equipment Services Inc., announced the relocation of its Georgetown branch to a Texas-based expanded unit.
- General Finance Corp. and United Rentals inked a definitive agreement for the former’s acquisition by United Rentals. The deal involved a transaction value of USD 996 million.
- Boels took over Cramo PLC to increase its customer base. The move was aimed at becoming one of the major players in the rental market in Europe.
- Sunbelt Rentals announced its partnership with Britishvolt, to support the development of Britishvolt’s first full-scale Cambois-based battery Gigaplant. This long-term deal will also see the companies work closely together to favor the development of battery solutions for power plants and heavy equipment to help decarbonize the construction and equipment rental sector.
Key Players:
- United Rentals, Inc. (U.S.)
- Loxam (France)
- Sunbelt (U.S.)
- Taiyokenki Rental Co., Ltd. (Japan)
- AKTIO Corporation (Japan)
- Herc Rentals Inc. (U.S.)
- Ahern Rentals. (U.S.)
- H&E Equipment Services, Inc. (U.S.)
- Nikken Corporation (Japan)
- Nishio Rent All Co. Ltd. (Japan)
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Market Overview:
- Current Market Trends: Analysis of the latest developments shaping the market landscape.
- Segmentation Analysis: Breakdown of the market by key segments and regional dynamics.
- Pricing Strategy Evaluation: In-depth examination of pricing trends within the industry.
- COVID-19 Impact Assessment: Exploration of how the pandemic has affected market behaviors and trends.
- Market Projections: Forecasting future market growth and potential shifts.
Key Report Highlights:
- Insight into the primary growth drivers and challenges facing the market.
- An extensive review of regional advancements and their implications.
- A compilation of leading industry players and their market positions.
- Strategies employed by significant market participants.
- Updates on recent industry movements, including product launches and mergers.
- Analysis of factors that may restrict growth and the regional market presence affecting trends beyond 2032.
This market research report is meticulously crafted to deliver a thorough understanding of the industry’s trajectory, equipping businesses with the insights necessary for strategic decision-making. The Construction Equipment Rental Market Report spans over 130+ pages and includes a detailed table of contents featuring figures, tables, graphs, and comprehensive analysis.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Key Insights
- Industry Developments (Mergers, Acquisitions, Partnerships)
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Innovations
- Value Chain Analysis
- TOC Continued…
This study presents a detailed view of the market landscape, categorized by sub-regions and countries. It identifies potential profit avenues, alongside market share and growth forecasts for each geographical area.
Segmentation of this report:
Construction Equipment Rental Market Size, Share & Industry Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment, Concrete & Road Building Equipment, and Others), By Application (Residential, Commercial, and Industrial), and Regional Forecast, 2022-2029
#Drivers & Restrains:
- Drivers:
- Cost Savings: Renting construction equipment reduces upfront capital expenditures and ongoing maintenance costs for businesses, providing financial flexibility.
- Increased Demand for Infrastructure Projects: The rise in infrastructure and construction projects drives the need for flexible and accessible equipment rental solutions.
- Technological Advancements: Modern rental fleets offer advanced and efficient equipment, including GPS and telematics, enhancing productivity and safety on job sites.
- Short-Term Project Needs: The growing trend of short-term and project-based construction work boosts the demand for rental equipment instead of long-term ownership.
- Maintenance and Support Services: Rental companies often provide comprehensive maintenance and support, ensuring well-maintained equipment and reducing downtime for renters.
- Restraints:
- High Rental Costs: The cumulative cost of renting equipment over time can become significant, potentially impacting the overall project budget.
- Availability and Logistics: Equipment availability and logistical challenges can sometimes cause delays and affect project timelines.
- Maintenance Responsibilities: Renters are often responsible for routine maintenance and ensuring equipment is returned in good condition, which can be burdensome.
- Economic Fluctuations: Economic downturns can lead to reduced construction activity and lower demand for rental equipment, affecting rental companies’ revenue.
- Competition and Pricing Pressure: Intense competition among rental companies can lead to pricing pressures and reduced profit margins for equipment rental businesses.
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