Global Construction Equipment Rental Market Outlook, Opportunities And Strategies
Learn about the global construction equipment rental market through The Business Research Company, which provides information on construction equipment rental market size, construction equipment rental market drivers and restraints, construction equipment rental market players, the COVID-19 impact on the construction equipment rental market, and more.
The global construction equipment rental market size is expected to grow from $90.60 billion in 2021 to $94.81 billion in 2022 at a compound annual growth rate (CAGR) of 4.64%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global construction equipment rentals market size is expected to reach $114.24 billion in 2026 at a CAGR of 4.77%.
The growing construction industry is expected to propel the growth of the construction equipment rental market going forward.
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The construction equipment rental market consists of sales of construction equipment products by entities (organizations, sole proprietors, partnerships) that rent out construction-related machinery, equipment, and tools to other contractors and professionals for a flat rate on daily, weekly or monthly basis. Renting construction equipment saves construction contractors the cost of new equipment, labor cost, maintenance cost, and operational costs.
Global Construction Equipment Rental Market Segments Include:
By Equipment: Earthmoving, Material Handling, Road Building and Concrete
By Product: Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers
By Application: Residential, Commercial, Industrial
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the construction equipment rental market in 2021.
Replacing conventional equipment with telematics integrated machinery is a rising trend in the construction equipment market. Telematics is integrated into the construction equipment for GPS fleet tracking, maximizing fleet utilization, safeguarding equipment from theft, improved billing, equipment utilization and others.
TBRC’s construction equipment rental market report covers:
Major Market Players: H&E Equipment Services, Inc, Maxim Crane Works, L.P., 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
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Construction Equipment Rental Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides construction equipment rental market overviews, analyzes and forecasts market size, share, construction equipment rental market players, construction equipment rental market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s construction equipment rental market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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