Construction Equipment Rental Market Analysis, Size, Regional Outlook, Competitive Strategies and Forecasts to 2024
Category: #world  By Partha Ray  Date: 2019-01-28
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Construction Equipment Rental Market Analysis, Size, Regional Outlook, Competitive Strategies and Forecasts to 2024

Market Study Report newly added the Global Construction Equipment Rental Market Report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.

 

Construction Equipment Rental Market is projected to surpass USD 140 billion by 2024. The rise in the construction of commercial and residential infrastructures is anticipated to drive the construction equipment rental market over the forecast timeline. Government institutions across various regions are making heavy investments on new construction projects as well as reconstructing the existing structures. Rising disposable income coupled with the enhancement in living standards of individuals across the emerging economies is leading to growing investments in shopping malls, recreation centers, and amusement parks. These infrastructure projects generally have stringent timelines, compelling the construction companies to rent machinery instead of purchasing, considering it as a more profitable approach.

 

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Increasing number of aging infrastructures in countries including Japan and the U.S. led the regional governments to restore them with sturdy structures, which is expected to generate a significant demand for the construction equipment rental market. In addition, the industry is currently witnessing an increase in demand pertaining to the growing number of smart city projects undertaken by various regional governments. The ever-increasing rate of accidents in work-sites is compelling construction firms worldwide to make use of advanced machinery, reducing the amount of manual labor. Several benefits offered by renting heavy construction machinery include the reduction in overhead expenses followed by the lowering of technical and other maintenance charges contributing to the construction equipment rental market growth. In addition, renting helps the construction companies to reduce overall project costs, transportation, and servicing-related costs.

 

Factors such as economic fluctuations and global financial crisis are anticipated to hinder the construction equipment rental market growth over the forecast timeline. In addition, the unavailability of skilled personnel coupled with the increase in fuel prices will negatively impact the industry demand. The preference of human labor over machinery for construction projects across various regions is also expected to limit the construction equipment rental market.

 

Increasing demand for enhancing throughput is compelling the construction companies to focus on utilizing more technologically-advanced material handling equipment. The material handling segment is expected to grow at over 5 percent CAGR due to easy availability of renting the heavy machinery. This equipment is capable of moving & storing more efficiently, enabling breakthrough lift heights, visibility, and energy savings, ensuring reliability and safety while working. Growing penetration of GPS, IoT, and RFID technologies in the material handling equipment is a major factor propelling the construction equipment rental market growth. In addition, the availability of semi- and fully-automated material handling machinery is contributing to the industry demand.

 

Asia Pacific construction equipment rental market is expected to reach over USD 40 billion by 2024. The emerging trend of the organizations toward renting of heavy construction machinery will have a positive impact toward the industry demand. Rising wage rates in China coupled with the changing consumption patterns are generating a huge demand for the rental machinery. Countries including India will witness a significant growth over the forecast timeline. The growth can be attributed to the rising number of high-scale infrastructure projects undertaken by the government such as Chardham Highway Project, Setu Bharatam Project, Bharatmala Project, and Gujarat-Gorakhpur Gas Pipeline.

 

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Major players operating in the construction equipment rental market include United Rentals, Ashtead Group, Cramo PLC, Ahern Rentals, Loxam Group, Nesco Rentals, Herc Holdings, Blueline Rentals, Caterpillar, Inc., and Shanghai Hongxin Equipment Engineering Co., Ltd. The construction equipment rental market is highly fragmented and is witnessing increasing competition due to the presence of a large number of regional as well as international players. The industry players are increasing their focusing on integrating the latest technologies, such as RFID, GPS, IoT, and telematics, into the machinery to provide improvised rental solutions and enhance the fleet utilization.


Report Content

 

 Chapter 1.   Methodology & Scope

 

 1.1.  Methodology

 

 1.1.1. Initial data exploration

 

 1.1.2. Statistical model and forecast

 

 1.1.3. Industry insights and validation

 

 1.1.4. Scope, definition and research parameters

 

 1.2.  Data Sources

 

 1.2.1. Primary

 

 1.2.2. Secondary

 

 Chapter 2.   Executive Summary

 

 2.1.  Construction equipment industry 360º synopsis, 2013 - 2024

 

 2.1.1. Business trends

 

 2.1.2. Regional trends

 

 2.1.3. Product trends

 

 Chapter 3.   Industry Insights

 

 3.1.  Industry segmentation

 

 3.2.  Industry landscape, 2013 - 2024

 

 3.2.1. Construction equipment landscape

 

 3.2.2. Used construction equipment landscape

 

 3.3.  Industry ecosystem analysis

 

 3.3.1. Pros and cons - rent vs purchase of construction equipment

 

 3.3.2. Cost calculator - rent vs purchase of construction equipment

 

 3.3.3. Technology providers

 

 3.3.4. Vendor matrix

 

 3.4.  Technology & innovation landscape

 

 3.5.  Regulatory landscape

 

 3.5.1. ISO standards

 

 3.5.1.1.    ISO 4310

 

 3.5.1.2.    ISO 8686

 

 3.5.1.3.    ISO 10245-1:2008

 

 3.5.1.4.    ISO 12480-1

 

 3.5.1.5.    ISO 23815-1

 

 3.5.1.6.    ISO 12482

 

 3.5.1.7.    ISO 23814

 

 3.5.1.8.    ISO 19432:2012

 

 3.5.2. North America

 

 3.5.3. Europe

 

 3.5.4. Asia Pacific

 

 3.5.5. Latin America

 

 3.5.6. MEA

 

 3.6.  Industry impact forces

 

 3.6.1. Growth drivers

 

 3.6.1.1.    High initial costs of construction equipment

 

 3.6.1.2.    Implementation of advanced technologies in construction equipment

 

 3.6.1.3.    Increasing infrastructure investments globally

 

 3.6.1.4.    Growing construction industry in China & India

 

 3.6.1.5.    Rising equipment rental demand in the U.S.

 

 3.6.1.6.    Increasing rate of urbanization in the U.S.

 

 3.6.1.7.    Increasing infrastructure and industrial projects in Russia

 

 3.6.1.8.    Growing urbanization and safety concerns in India

 

 3.6.1.9.    Rapid infrastructure development in BRIC countries

 

 3.6.1.10.     Growing reconstruction and maintenance activities in Japan

 

 3.6.2. Industry pitfalls & challenges

 

 3.6.2.1.    Cyclic instability of application industries

 

 3.6.2.2.    Lack of skilled and qualified operators

 

 3.6.2.3.    Optimizing fleet utilization

 

 3.6.2.4.    Lack of awareness

 

 3.7.  Growth potential analysis

 

 3.8.  Porter's analysis

 

 3.9.  Competitive landscape, 2017

 

 3.9.1. Strategy dashboard

 

 3.9.2. Investment landscape

 

 3.10.      PESTEL analysis

 

 Chapter 4.   Construction Equipment Rental Market, By Product

 

 4.1.  Global construction equipment rental market share by product, 2017 & 2024

 

 4.2.  Earthmoving & road building equipment

 

 4.2.1. Market estimates and forecast, 2013 - 2024

 

 4.2.2. Market estimates and forecast, by region, 2013 - 2024

 

 4.2.3. Backhoe

 

 4.2.3.1.    Market estimates and forecast, 2013 - 2024

 

 4.2.3.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.2.4. Excavator

 

 4.2.4.1.    Market estimates and forecast, 2013 - 2024

 

 4.2.4.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.2.5. Loader

 

 4.2.5.1.    Market estimates and forecast, 2013 - 2024

 

 4.2.5.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.2.6. Compaction equipment

 

 4.2.6.1.    Market estimates and forecast, 2013 - 2024

 

 4.2.6.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.2.7. Others

 

 4.2.7.1.    Market estimates and forecast, 2013 - 2024

 

 4.2.7.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.3.  Material handling & cranes

 

 4.3.1. Market estimates and forecast, 2013 - 2024

 

 4.3.2. Market estimates and forecast, by region, 2013 - 2024

 

 4.3.3. Storage & handling equipment

 

 4.3.3.1.    Market estimates and forecast, 2013 - 2024

 

 4.3.3.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.3.4. Engineered systems

 

 4.3.4.1.    Market estimates and forecast, 2013 - 2024

 

 4.3.4.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.3.5. Industrial trucks

 

 4.3.5.1.    Market estimates and forecast, 2013 - 2024

 

 4.3.5.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.3.6. Bulk material handling equipment

 

 4.3.6.1.    Market estimates and forecast, 2013 - 2024

 

 4.3.6.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.4.  Concrete equipment

 

 4.4.1. Market estimates and forecast, 2013 - 2024

 

 4.4.2. Market estimates and forecast, by region, 2013 - 2024

 

 4.4.3. Concrete pump

 

 4.4.3.1.    Market estimates and forecast, 2013 - 2024

 

 4.4.3.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.4.4. Crusher

 

 4.4.4.1.    Market estimates and forecast, 2013 - 2024

 

 4.4.4.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.4.5. Transit mixer

 

 4.4.5.1.    Market estimates and forecast, 2013 - 2024

 

 4.4.5.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.4.6. Asphalt paver

 

 4.4.6.1.    Market estimates and forecast, 2013 - 2024

 

 4.4.6.2.    Market estimates and forecast, by region, 2013 - 2024

 

 4.4.7. Batching plant

 

 4.4.7.1.    Market estimates and forecast, 2013 - 2024

 

 4.4.7.2.    Market estimates and forecast, by region, 2013 - 2024

 

Complete report titled at https://www.marketstudyreport.com/reports/construction-equipment-rental-market

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About Author

Partha Ray

Email: partha.r@news.marketsizeforecasters.com   

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

...

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