The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Construction Equipment Rental Global Market Report 2024, the construction equipment rental market is expected to show significant growth in the forecast period.

The construction equipment rental market has experienced robust growth in recent years, with projections indicating a continued upward trajectory. Analyzing key drivers and market trends sheds light on the sector’s potential.

Market Growth and Projections

• The market size surged from $100.51 billion in 2023 to $106.1 billion in 2024, with a CAGR of 5.6%.
• Further growth is forecasted, reaching $130.51 billion by 2028, with a CAGR of 5.3%.

Factors Driving Market Expansion

• Increased demand for construction projects
• Growing need for cost optimization and efficiency
• Intensifying competition among construction companies and equipment manufacturers
• Cyclical nature of the construction industry, spurring demand for rental equipment

Urbanization Spurs Robust Growth

• Urbanization drives the concentration of populations in cities, fueling construction demand.
• The global urban population is projected to increase by 1.5 times to 6 billion by 2045, per UNCTAD.
• Growing urbanization accelerates the need for construction equipment rental services.

View More On The Construction Equipment Rental Market Report 2024 – https://www.thebusinessresearchcompany.com/report/construction-equipment-rental-global-market-report

Key Players in the Market

• H&E Equipment Services Inc.
• Maxim Crane Works LLP
• Boels Rentals NV
• United Rentals Inc.
• Ashtead Group plc, among others.

Telematics Integration Revolutionizes Management

• Telematics integration optimizes fleet tracking, utilization, and security.
• Hitachi Construction Machinery introduced a telematics system for fleet management, enhancing real-time monitoring.

Strategic Acquisitions Drive Expansion

• H&E Equipment Services, Inc. acquired One Source Equipment Rentals Inc., expanding its presence in key regions.
• The acquisition bolsters H&E Equipment Services’ reach and offerings in Illinois, Indiana, and Kentucky.

Market Segmentation

1. By Equipment: Earthmoving, Material Handling, Road Building, and Concrete.
2. By Product: Backhoes, Excavators, Loaders, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers.
3. By Application: Residential, Commercial, Industrial.

Regional Outlook

• North America led the construction equipment rental market in 2023.
• Asia-Pacific is poised to emerge as the fastest-growing region in the forecast period.

Request A Sample Of The Global Construction Equipment Rental Market Report 2024:
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The Construction Equipment Rental Global Market Report 2024  provides an in-depth analysis on the construction equipment rental market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the construction equipment rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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