Heavy Construction Equipment Rental Market was valued at USD 75 Billion in 2022 and is projected to reach USD 95 Billion by 2030, growing at a CAGR of 3.5% from 2024 to 2030.
The global heavy construction equipment rental market saw significant growth between 2018 and 2022, driven by rising infrastructure projects and increased urbanization. During this period, rental services became a popular choice due to their cost-effectiveness and flexibility, especially with companies looking to avoid large upfront costs. By renting heavy machinery, companies were able to scale their operations quickly without the burden of ownership, and this trend became especially strong in developing regions where construction activities were booming. As construction projects became more specialized, the demand for specific types of equipment like excavators, cranes, and loaders surged. However, factors like fluctuating raw material prices, increasing fuel costs, and the economic impact of the COVID-19 pandemic led to some market volatility in the last years of this period.
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Looking ahead to the period from 2023 to 2033, the heavy construction equipment rental market is projected to experience robust growth, fueled by several key factors. The rapid advancement in technology, such as the use of telematics and automation in construction equipment, is expected to drive rental demand. Furthermore, the growing focus on sustainable construction practices is encouraging companies to rent equipment with lower emissions and energy-efficient technologies. The post-pandemic recovery is another crucial factor that is driving investment in infrastructure projects globally, particularly in emerging economies, which will increase demand for rented heavy construction machinery. Additionally, increased urbanization and the rise of smart cities will push the need for specialized construction equipment, making rental services a more attractive option for companies working on complex projects.
Furthermore, with the increased adoption of rental services in sectors beyond traditional construction, such as mining, road building, and utility projects, the rental market is expanding its reach. Companies will continue to prefer rental solutions for short-term projects or when specialized equipment is required. This will be further supported by rental companies offering more flexible terms and a variety of equipment that can be tailored to specific project needs. The shift toward electric and hybrid construction machines is likely to influence the rental market, as demand grows for equipment that complies with new environmental regulations and sustainability goals.
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Ashtead Group plc. (Sunbelt Rentals Ltd)
Boels Rental
H&E Equipment Services
Haulotte Group
Herc Rentals Inc.
Kanamoto Co.
Ltd.
Loxam (Ramirent)
Sarens n.v./s.a.
Sumitomo Corporation (Sunstate Equipment Company)
United Rentals
Inc.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Heavy Construction Equipment Rental Market
Construction
Mining
Oil & Gas
Manufacturing
Others
Based on Types the Market is categorized into Below types that held the largest Heavy Construction Equipment Rental market share In 2023.
Earthmoving Equipment
Material Handling Equipment
Heavy Construction Vehicles
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Heavy Construction Equipment Rental Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Heavy Construction Equipment Rental Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Heavy Construction Equipment Rental Market, By Type
6. Global Heavy Construction Equipment Rental Market, By Application
7. Global Heavy Construction Equipment Rental Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Heavy Construction Equipment Rental Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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