Fortune business insights recently published a detailed market research study focused on the “The construction equipment rental market share Report 2024” delivering key insights and providing a competitive advantage to clients through a detailed 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
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The competitive landscape of the market for construction equipment rental market is determined by assessing the major industry participants, production capacity, production capacity utilization rate, construction equipment rental marketM’s production chain, pricing by each manufacturer and the revenue generated by each manufacturer in the construction equipment rental marketM globally.
Top key players 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)
Market atributes:
Report Componant
Aspects
Forecast Period
2021-2029
Projected market valuve 2021
USD 111.6 billion
Forecasted market valuve 2029
USD 164.6 billion
Compound Annual Growth Rate
5.1
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Drivers and restraints:
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.
Regional analysis:
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 Content :
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…!
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Key industry developments:
November 2021 - Herc Holdings Inc. acquired Rapid Equipment Rental Limited, a Toronto-based rental company.
June 2020 - H&E Equipment Services Inc., announced the relocation of its Georgetown branch to a Texas-based expanded unit.
April 2021 - 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.
February 2020 - 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.
June 2022 - 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.
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Key questions are answer in this report:
What is the market size of construction equipment rental market 2024?
Who are top key players in this report?
what are drivers in the construction equipment rental industry?
what is the future projection of construction equipment rental industry?