Construction Equipment Rental Market: Increasing Adoption of Rental Equipment in Various Industries to Bolster the Market Growth during the forecast period.
As per the study initiated By Evolve Business Intelligence, the global Construction Equipment Rentalmarket size accounted for USD 12.1 Billion in 2022, growing at a CAGR of 5.51% from 2023 to 2033.The rental market for construction equipment pertains to the leasing of machinery, vehicles, and handling equipment used in construction to contractors and construction companies. Renting equipment is a more cost-effective option than purchasing, and it provides access to the latest equipment with out the high cost of ownership. The market for construction equipment rental is fueled By several factors, such as the growing demand for construction activities in industries like residential, commercial, and infrastructure, and the popularity of rental services among small and medium-sized construction companies that cannot afford to buy their equipment.
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Key Highlights:
- The global Construction Equipment Rental Market size was valued at USD 1Billion in 2022 growing at a CAGR of 5.51% from 2023 to 2033.
- North Americadominated the market in 2022
- Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has published a new market research report on the Global Construction Equipment Rental Market focusing on various aspects including market size and forecast, market dynamics, competitors’ market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which include Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted to prosper in this industry over the short and long terms. The quantitative analysis includes our authentic findings of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.
In terms of COVID-19 impact, the Construction Equipment Rental market report also includes the following data points:
- COVID-19 Impact on Construction Equipment Rental market size
- End-User/Industry/Application Trend, and Preferences
- Government Policies/Regulatory Framework
- Key Players’ Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in Construction Equipment Rentalmarket
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Key Players
Some of the major Construction Equipment Rental players holding high market share include Maxim Crane Works, MTANDT RENTALS LIMITED, Boels Rentals, Sarens NV, and H&E Equipment Services Inc.These players use new product development/partnership as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
- Maxim Crane Works
- MTANDT RENTALS LIMITED
- Boels Rentals
- Sarens NV
- H&E Equipment Services Inc.
- Kanamoto Co. Ltd.
- Herc Rentals Inc.
- NESCO HOLDINGS
- (NESCO SPECIALTY RENTALS)
- Ramirent ab
- United Rentals, Inc.
Segmental Analysis
Market Segment By Equipment Type with focus on market share, consumption trend, and growth rate of Construction Equipment Rental Market:
- Earthmoving Equipment
- Material Handling Equipment
- Concrete & Road Building Equipment
- Others
Market Segment By Application with focus on market share, consumption trend, and growth rate of the Construction Equipment Rental Market:
- Residential
- Commercial
- Industrial
| Parameters | Details |
| Market Size (2022) | USD12.1 Billion |
| CAGR (2023 to 2033) | 5.51% |
| Market Segmentation | Equipment Type, End User |
| Country Covered | US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America |
Global Construction Equipment Rental Geographic Coverage:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Nordic Countries
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of MEA
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Reasons to Buy this Report:
- Detail analysis of the impact of market drivers, restraints, and opportunities
- Competitive Intelligence providesan understanding of the ecosystem
- Details analysis of the Total Addressable Market (TAM) of your products
- Investment Pockets and New Business Opportunities
- Demand-supply gap analysis
- Strategy Planning
About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.
Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from Fortune’s global 2000 companies.
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