Construction Equipment Rental Market size was estimated at USD 122.3 Billion in 2023 and is expected to reach USD 182 Billion by 2031 at a CAGR of 5.07% during the forecast period of 2024-2031.
The construction equipment rental market has experienced significant growth in recent years, driven by the rising demand for infrastructure development and urbanization across the globe. Contractors and builders are increasingly opting for rental solutions over purchasing equipment due to the high cost of ownership, maintenance, and storage. Renting allows companies to access a wide range of modern, technologically advanced equipment without the financial burden of ownership, making it a more cost-effective and flexible solution. Additionally, the emergence of smart and connected equipment that offers real-time data and remote operation capabilities has further boosted the rental market, as companies can access innovative machinery without long-term capital investments.
Furthermore, the expansion of construction activities in emerging markets, particularly in Asia-Pacific and Latin America, has propelled the demand for rental equipment. Rapid urbanization, government investments in large-scale infrastructure projects, and the growing need for sustainable building practices have fueled market growth. Environmental regulations are also playing a role, with stricter emission standards driving companies to rent newer, eco-friendly machinery. The COVID-19 pandemic initially disrupted the market, but post-pandemic recovery efforts, coupled with the resumption of stalled construction projects, have led to a rebound in demand for rental equipment, setting the stage for sustained growth in the coming years
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Covid 19 impact analysis:
The latest report is the most recent study that offers 360° coverage of the Construction Equipment Rental industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Construction Equipment Rental market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
Ahern Rentals Inc., AKTIO Corporation, Caterpillar Inc, Byrne Equipment Rental, Cramo Plc, Finning International Inc., Liebherr-International AG, Kanamoto Co., Ltd, Maxim Crane Works, L.P., United Rentals, Inc, Boels Rental, H&E Equipment Services Inc, and others.
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Construction Equipment Rental market.
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It has segmented the global Construction Equipment Rental market
By Product
- Earth Moving Machinery
- Material Handling Machinery
- Concrete and Road Construction Machinery
By Application
- Residential
- Commercial
- Industrial
Key Objectives of the Global Construction Equipment Rental Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Construction Equipment Rental
- The report marks the notable developments that have recently taken place in the Construction Equipment Rental industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Construction Equipment Rental market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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