Construction Equipment Rental Market: Trends and Growth

The “Construction Equipment Rental Market Research Report Overview by 2024” market size is reached USD 111.6 billion by 2021 and it is projected to reach USD 164.6 billion by 2029 between the forecast period and expected Compound annual growth rate of 5.1% between the forcast period by (2021-2029).

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Construction Equipment Rental Market Share, Size & Industry Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment, Concrete & Road Building Equipment, and Others), By Application (Residential, Commercial, and Industrial), and Regional Forecast Between, 2022-2029

Major Keyplayers of construction equipment rental market:

Some of the key players operating in the global construction equipment rental Industry are:

• United Rentals, Inc. (U.S.)
• Loxam (France)
• Sunbelt (U.S.)
• Taiyokenki Rental Co., Ltd. (Japan)
• AKTIO Corporation (Japan)
• Herc Rentals Inc. (U.S.)
• Ahern Rentals. (U.S.)
• H&E Equipment Services, Inc. (U.S.)
• Nikken Corporation (Japan)
• Nishio Rent All Co. Ltd. (Japan)

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Key industry developments of construction equipment rental market:

• Herc Holdings Inc. acquired Rapid Equipment Rental Limited, a Toronto-based rental company.
• H&E Equipment Services Inc., announced the relocation of its Georgetown branch to a Texas-based expanded unit.
• General Finance Corp. and United Rentals inked a definitive agreement for the former’s acquisition by United Rentals. The deal involved a transaction value of USD 996 million.
• Boels took over Cramo PLC to increase its customer base. The move was aimed at becoming one of the major players in the rental market in Europe.
• Sunbelt Rentals announced its partnership with Britishvolt, to support the development of Britishvolt’s first full-scale Cambois-based battery Gigaplant. This long-term deal will also see the companies work closely together to favor the development of battery solutions for power plants and heavy equipment to help decarbonize the construction and equipment rental sector.

Drivers and restraints of construction equipment rental market:

• Drivers:
  • Cost Savings: Renting construction equipment reduces upfront capital expenditures and ongoing maintenance costs for businesses, providing financial flexibility.
  • Increased Demand for Infrastructure Projects: The rise in infrastructure and construction projects drives the need for flexible and accessible equipment rental solutions.
  • Technological Advancements: Modern rental fleets offer advanced and efficient equipment, including GPS and telematics, enhancing productivity and safety on job sites.
  • Short-Term Project Needs: The growing trend of short-term and project-based construction work boosts the demand for rental equipment instead of long-term ownership.
  • Maintenance and Support Services: Rental companies often provide comprehensive maintenance and support, ensuring well-maintained equipment and reducing downtime for renters.
• Restraints:
  • High Rental Costs: The cumulative cost of renting equipment over time can become significant, potentially impacting the overall project budget.
  • Availability and Logistics: Equipment availability and logistical challenges can sometimes cause delays and affect project timelines.
  • Maintenance Responsibilities: Renters are often responsible for routine maintenance and ensuring equipment is returned in good condition, which can be burdensome.
  • Economic Fluctuations: Economic downturns can lead to reduced construction activity and lower demand for rental equipment, affecting rental companies’ revenue.
  • Competition and Pricing Pressure: Intense competition among rental companies can lead to pricing pressures and reduced profit margins for equipment rental businesses.

Regional Insights:

• North America (By Equipment Type, By Application, By Country)
  • U.S. (By Equipment Type)
  • Canada (By Equipment Type)
• Europe (By Equipment Type, By Application, By Country)

• • U.K. (By Equipment Type)
  • Germany (By Equipment Type)
  • France (By Equipment Type)
  • Italy (By Equipment Type)
  • Rest of Europe

• Asia Pacific (By Equipment Type, By Application, By Country)
  • China (By Equipment Type)
  • Japan (By Equipment Type)
  • India (By Equipment Type)
  • Southeast Asia (By Equipment Type)
  • Rest of Asia Pacific
• Middle East & Africa (By Equipment Type, By Application, By Country)

• • GCC Countries (By Equipment Type)
  • South Africa (By Equipment Type)
  • Rest of Middle East and Africa

• Latin America (By Equipment Type, By Application, By Country)

• • Brazil (By Equipment Type)
  • Mexico (By Equipment Type)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

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