Global Construction Equipment Rental Market is expected to reach USD 230 billion by 2025. Construction Equipment Rental are the machines designed for constructing earthwork operations on a rental basis. These are termed as heavy-duty vehicles, which are mainly used in construction and mining sites to relocate and transport heavy materials. The Construction Equipment Rental Market is estimated to grow at a significant CAGR of 4.8% over the forecast period as the scope and its applications are rising enormously across the globe.
Rising tendency of renting heavy construction equipment’s like loaders and excavators, presence of enhanced technological equipment, growing number of construction activities, and growth in infrastructure investment are documented as major factors of Construction Equipment Rental industry that are estimated to enhance the growth in the years to come. Construction Equipment Rental Market is segmented based on product type, material handling, concrete equipment, and region. Compaction equipment, backhoes, loaders, excavators, and other product types could be explored in Construction Equipment Rental in the forecast period.
Bulk material handling equipment, storage and handling equipment, industrial trucks, engineered systems, and another material handling may be explored in Construction Equipment Rental in the forecast period. The market may be categorized based on concrete equipment like batching plants, concrete pumps, asphalt pavers, crushers, transit mixers, and others that could be explored in the forecast period.
Globally, Asia Pacific accounted for the significant market share of Construction Equipment Rental and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be developing infrastructure reconstruction activities, increasing investment in the construction sectors in emerging countries, growing population and urbanization, and expansion of rail & road infrastructure. The developing countries like India and China are the major consumers of Construction Equipment Rental in the region.
The key players of Construction Equipment Rental Market are United Rentals, Sunbelt Rentals, Herc Rentals, Cramo, Loxam, Ramirent, Hitachi Construction Machinery, Speedy Hire, Maxim Crane Works, HSS Hire Service Group, American Equipment Company, Finning International, HKL BAUMASCHINEN, and H&E Equipment Services. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
Construction Equipment Rental Product Outlook (Revenue, USD Billion, 2014 - 2025)
• Earth Moving Machinery
• Material Handling Machinery
• Concrete & Road Construction Machinery
Construction Equipment Rental Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia
Research Support Specialist, USA