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Market Size – USD 97.70 Billion in 2019, Market Growth – at a CAGR of 4.1%, Market Trend – High demand from the APAC region.
VANCOUVER, BC, CANADA, April 6, 2022 /EINPresswire.com/ -- The construction equipment rental market is projected to reach value of USD 135.7 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market is attributable to availability of numerous rental options a firm can have to fill the void during outages and give required flexible options that supports logistics and finance. Firms reduce their cost by availing rental equipment over a long term for numerous projects. Organizations do not need to make upfront investments in various heavy equipment, while saving on depreciation and labor and maintenance costs over a long period of time. Rental companies take care of these expenses.
The current COVID-19 pandemic is expected to have an effect on the growth of the construction equipment rental industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the construction equipment rental sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall construction equipment rental industry.
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Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Loxam Group, United Rentals, Inc., Mtandt Rentals Limited, Cramo PLC., Nesco Rentals, The Hertz Corporation, Boels Rentals, Unirent LLC, Caterpillar Inc., and Ahern Rentals, Inc.
Further Key Findings from the Report Suggest:
In 2019, Siddha Group initiated the use of new construction technologies such as Precast, PEB, and Drywall in its works to secure a better output
The market in Asia Pacific is expected to expand at the highest CAGR of 4.5% from 2020 to 2027. The region is likely to continue its dominance in the global construction equipment rental market in terms of both usage and manufacturing throughout the forecast period. This region has witnessed growth in the number of metro projects, highways, airports, hydroelectric projects, and dams as well as heavy industrial activities over the last few years.
In March 2019, Cooper Equipment Rentals announced the purchase of Prime Rentals, an equipment rental company located in Canada. This investment helped the acquirer to expand its business in South Alberta.
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For the purpose of this report, Emergen Research has segmented the global construction equipment rental market based on equipment type, product type, application, and region as follows:
Equipment Type Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
Product Type Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
Application Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
Transport Power & Energy Infrastructure
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Construction Equipment Rental market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Construction Equipment Rental market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Construction Equipment Rental market.
Radical Highlights of the Construction Equipment Rental Market Report:
Comprehensive overview of the Construction Equipment Rental market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Construction Equipment Rental market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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