According to a new report published by UnivDatos Markets Insights, the Construction Equipment Rental Market was valued at more than USD 950 billion in 2020 and is expected to grow at a CAGR of around 4% from 2022-2028. The analysis has been segmented into Equipment (Earthmoving, Material Handling, Road Building, and Concrete Pumps); Product (Backhoes, Cranes, Excavators, Loaders, and Others); Application (Construction & Infrastructure, Transport Power, Energy Infrastructure, and Others); Region/Country.
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The construction equipment rental management market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the construction equipment rental management Market. The construction equipment rental market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the construction equipment rental management Market at the global and regional levels.
Market Overview
Global Construction equipment rental Market is expected to grow at a significant rate of around 4% during the forecast period. Heavy-duty vehicles designed specifically for carrying out construction tasks, most frequently earthwork, are referred to as construction equipment. The primary drivers of the global construction equipment market are rapid urbanization, rapid industrialization, rising government investments in the development of infrastructure, and the expansion and growth of real estate and construction companies worldwide. Moreover, the countries are looking forward to building up the advanced infrastructure that will boost up the growth of the market during the forecast period. For instance, in January 2021, Saudi Arabia announced to creation a green smart city, NEOM.
Some of the major players operating in the market include Caterpillar, CNH Industrial N.V, Doosan Corporation, Escorts Limited, Hitachi Construction Machinery Co Ltd., Hyundai Construction Equipment Co Ltd., J C Bamford Excavators Ltd., Deere & Company., Kobelco Construction Machinery Co Ltd., and Komatsu Ltd.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the automotive industry and has transformed the way industry is delivered. The construction equipment rental management market has been significantly affected during these times owing to the restriction on import and export and limitations in traveling.
The global Automotive dealer management Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on equipment, the market is segmented into earthmoving, material handling, road building, and concrete pumps. The earth-moving segment category to witness higher CAGR during the forecast period. As earthmoving construction equipment is benefiting greatly from the demand for better infrastructure and the growing urban population. Moreover, the growing construction of residential and large-scale commercial civil projects has increased the inclination of construction companies and contractors toward leasing earthmoving equipment.
· Based on product, the market is categorized into backhoes, cranes, excavators, loaders, and others. Among these, the crane holds a significant share of the market in during the forecast period. This is mainly due to the large construction projects worldwide that include the port extension, underwater tunnels, railway tunnels, including the use of many types of cranes. Thus, driving the growth of the crane segment.
· Based on application, the construction equipment rental market has been classified into construction & infrastructure, transport power, energy infrastructure, and others. The construction and Infrastructure category is to witness higher adoption during the forecast period. Construction equipment sales have been impressive as a result of rising construction and infrastructure spending, particularly in emerging markets.In addition, government is spending on infrastructure projects, primarily in rural areas, sales of construction equipment are anticipated to rise by double digits in the coming years.
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Automotive dealer management Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
· For a better understanding of the market adoption of the construction equipment rental industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Globally, North America is the leading market for construction equipment rental market due to the availability of project-specific technologically advanced machinery at a minimal cost. The specialized equipment decreases the operation time, reduces the idling time, and optimizes the overall construction or mining activity, thus widely preferred. The prominent construction equipment rental companies based in the U.S., such as United Rentals, Ahern Rentals, Ashtead Group, and others, have increased demand for enhanced rental services and solutions.
The major players targeting the market include
· Caterpillar
· CNH Industrial N.V.
· Doosan Corporation
· Escorts Limited
· Hitachi Construction Machinery Co Ltd.
· Hyundai Construction Equipment Co Ltd.
· J C Bamford Excavators Ltd.
· Deere & Company.
· Kobelco Construction Machinery Co Ltd.
· Komatsu Ltd.
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Automotive dealer management Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the construction equipment rental market?
• Which factors are influencing construction equipment rental market the over the forecast period?
• What are the global challenges, threats, and risks in the construction equipment rental market?
• Which factors are propelling and restraining the construction equipment rental market?
• What are the demanding global regions of the construction equipment rental market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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Table Of Content:
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE CONSTRUCTION EQUIPMENT RENTAL MARKET
6 CONSTRUCTION EQUIPMENT RENTAL MARKET REVENUE, 2020-2028F
7 MARKET INSIGHTS BY EQUIPMENT
8 MARKET INSIGHTS BY PRODUCT
9 MARKET INSIGHTS BY APPLICATION
10 MARKET INSIGHTS BY REGION
11 CONSTRUCTION EQUIPMENT RENTAL MARKET DYNAMICS
12 CONSTRUCTION EQUIPMENT RENTAL MARKET OPPORTUNITIES
13 CONSTRUCTION EQUIPMENT RENTAL MARKET TRENDS
14 DEMAND AND SUPPLY-SIDE ANALYSIS
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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