Engineering Equipment Rental Service Market size was valued at USD XX Billion in 2024 and is projected to reach USD YY Billion by 2033, exhibiting a CAGR of ZZ% from 2026 to 2033.
Engineering Equipment Rental Service Market in South Korea is experiencing a significant surge, driven by the country's rapid industrialization and infrastructure development. The market's expansion is fueled by the need for cost-effective and flexible solutions across various sectors.
Market Overview:
In 2023, the market generated a revenue of USD 33.4 million and is projected to reach USD 662.6 million by 2030, growing at a CAGR of 53.2%.
Key equipment types include air compressors, pumps, power tools, ground power units, laser cutting machines, printing machines, CNC machines, material handling systems, packaging machines, excavators, cranes, and turning and milling machines.
Laser cutting machines were the largest revenue-generating equipment in 2023, while CNC machines are expected to register the fastest growth during the forecast period.
Industry Requirements:
Construction Sector: The construction industry in South Korea registered a growth of 9.2% in 2021. The adoption of equipment as a service for various construction equipment, such as air compressors, cranes, and pumps, assists in meeting growing overseas demand at a lower cost.
Manufacturing Industry: The manufacturing sector's emphasis on export-oriented industrialization and technological advancements necessitates access to advanced machinery like CNC machines and laser cutting equipment without the burden of ownership.
Mining Sector: The mining equipment rental market generated a revenue of USD 1,030.8 million in 2024 and is expected to reach USD 1,372.7 million by 2030, with underground mining equipment registering the fastest growth.
Personal Experience:
Having collaborated with several South Korean manufacturing firms, I've observed a growing preference for renting specialized equipment. This approach allows companies to stay agile, adapt to project-specific requirements, and manage budgets effectively without compromising on quality or efficiency.
The Engineering Equipment Rental Service Market in South Korea is poised for continued growth, offering industries the flexibility and cost savings needed to thrive in a competitive landscape.
Get an In-Depth Research Analysis of the South Korea Engineering Equipment Rental Service Market Size And Forecast [2025-2032]
Â
United Rentals
Ashtead Group
Aktio Corp
Kanamoto
Hertz Equipment Rental
Loxam Group
Blueline Rent
Ahern Rentals
Nishio Rent
Aggreko
Maxim Crane Works
SCMC
Â
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.
Get Discount On The Purchase of the South Korea Engineering Equipment Rental Service Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Engineering Equipment Rental Service Market
Earthmoving Equipment
Material Handling Equipment
Concrete Equipment
Paving Equipment
Compaction Equipment
Hydraulic Equipment
Construction
Mining
Oil & Gas
Utilities
Infrastructure Development
Agriculture
Short-Term Rental (Less than 6 months)
Medium-Term Rental (6 months to 1 year)
Long-Term Rental (More than 1 year)
Owned Fleet (In-house equipment)
Third-Party Rentals
Leasing Companies
Fixed Rental Payment
Variable Rental Payment (Pay-per-use)
Subscription-based Payment
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Engineering Equipment Rental Service Market Research Analysis
1. Introduction of the South Korea Engineering Equipment Rental Service 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. South Korea Engineering Equipment Rental Service Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Engineering Equipment Rental Service Market, By Type
6. South Korea Engineering Equipment Rental Service Market, By Application
7. South Korea Engineering Equipment Rental Service Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Engineering Equipment Rental Service Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/