Construction Equipment Rental Market Size, Growth Forecast, and Trends by 2024

The global construction equipment rental market size was valued at USD 111.6 billion in 2021 and is projected to grow from USD 116.0 billion in 2022 to USD 164.6 billion by 2029, exhibiting a CAGR of 5.1% during the forecast period. Asia Pacific dominated the construction equipment market with a market share of 42.38% in 2021.

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Recent Industry developments of construction equipment rental market:

• 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.

Top Keyplayers of construction equipment rental market:

• 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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Construction Equipment Rental Market Segmentation

Construction Equipment Rental Market Share, Size & 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 Between, 2022-2029

Reasons to buy this report:

This report thoroughly examines the competitive dynamics, growth areas, market conditions, and trends in the construction equipment rental market. It assists businesses in identifying opportunities for growth and development while highlighting potential challenges and risks. Stakeholders are assisted in developing more informed investment and market strategies by the report’s assessment of product portfolios and business segments.

A thorough grasp of the industry dynamics outlined in the report can help develop successful success strategies in the construction equipment rental market and greatly improve decision-making. All things considered, this report is an excellent source of information for anyone wishing to learn more about this rapidly changing sector.

Key Report Highlights on the Construction Equipment Rental Market:

• Market CAGR for the Forecast Period: Provides insights into the Compound Annual Growth Rate (CAGR) of the Construction Equipment Rental Market from 2024 to 2032.
• Comprehensive Analysis of Growth Drivers: Offers a detailed evaluation of the key factors driving the growth of the Construction Equipment Rental Market during the forecast period.
• Accurate Market Size and Share Estimates: Precise projections on the size and share of the Construction Equipment Rental Market, underscoring its position within the larger market landscape.
• Forecasts on Emerging Trends and Consumer Behavior: Predicts future trends and shifts in consumer behavior relevant to the Construction Equipment Rental Market.
• Regional Growth Analysis: Examines the growth of the Construction Equipment Rental Market across key regions, including North America, Asia-Pacific (APAC), Europe, South America, the Middle East, and Africa.
• Competitive Landscape Overview: Detailed assessment of the competitive environment, offering insights into the key players within the Construction Equipment Rental Market.
• Evaluation of Growth Barriers: Analyzes the challenges that may hinder the expansion of suppliers in the Construction Equipment Rental Market.

Regional Atributes:

• North America (By Equipment Type, By Application, By Country)
  • U.S. (By Equipment Type)
  • Canada (By Equipment Type)
• Europe (By Equipment Type, By Application, By Country)

• • U.K. (By Equipment Type)
  • Germany (By Equipment Type)
  • France (By Equipment Type)
  • Italy (By Equipment Type)
  • Rest of Europe

• Asia Pacific (By Equipment Type, By Application, By Country)
  • China (By Equipment Type)
  • Japan (By Equipment Type)
  • India (By Equipment Type)
  • Southeast Asia (By Equipment Type)
  • Rest of Asia Pacific
• Middle East & Africa (By Equipment Type, By Application, By Country)

• • GCC Countries (By Equipment Type)
  • South Africa (By Equipment Type)
  • Rest of Middle East and Africa

• Latin America (By Equipment Type, By Application, By Country)

• • Brazil (By Equipment Type)
  • Mexico (By Equipment Type)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Construction Equipment Rental Market Drivers and 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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