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Construction Equipment Rental Market: Revenue, Opportunity, Segment And Key Trends 2020-2027

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Daniel Lewis
Construction Equipment Rental Market: Revenue, Opportunity, Segment And Key Trends 2020-2027

The global construction equipment rental market size is expected to reach USD 136.5 billion by 2027, growing at a CAGR of 4.9% over the forecast period, according to a new report by Radiant Insights, Inc. The key factor driving the market is the growing construction industry, particularly in developing countries, owing to various growth opportunities in infrastructure, residential, and non-residential sectors. Shifting trends towards renting construction equipment due to various cost-benefits is also expected to propel the growth of the market. Avoidance of initial purchasing cost, lower repair and maintenance cost, and shielding from market fluctuation are also some factors that promote the use of these heavy machines on rental basis. The dynamic nature of the construction industry leads to rising overall project costs, hence renting equipment would provide a cushion to the construction companies from any unpredictable financial downturns that may arise. Thus, augmenting market growth over the forecast period.

Download Free Sample Report @ https://www.radiantinsights.com/research/construction-equipment-rental-market-2027/request-sample

Based on product, the construction equipment rental market is categorized into material handling machinery, earthmoving machinery, and concrete and road construction machinery. Earthmoving machinery emerged as the largest segment by product. Widespread adoption, mobility and ease of operation, and the high cost of excavators are the prominent factors that make rental of such equipment a preferable option. The earthmoving machinery comprises of loaders and excavators prominently used for application in the agriculture, construction, and mining sectors. Material handling machinery such as trailer mounted crane, truck mounted crane, and crawler crane is anticipated to gain market share by 2027. The growing popularity of these types of machines owing to features such as high lifting capacity, high rigidity, and better transportability has fostered market demand. Additionally, the growing trend of high-rise buildings and mega infrastructure schemes is anticipated to give a boost to the demand for these types of machinery on rental basis.

The Asia Pacific region has robust growth opportunities owing to increase in construction activities and growing adoption of machines on rental basis. In India, the growth in labor cost and increasing stringency for completing projects within stipulated timelines has compelled the contractors to procure the required machines on rental basis. China is the major manufacturer of construction equipment owing to high production capacity and availability of advanced manufacturing facilities. Europe has also witnessed increased demand for building machines on rental basis, due to the rise in mega projects related to roadbuilding and transportation. For instance, the European Commission launched its road project to link Ireland and Britain with Northern Europe in 2019.

Further key findings from the report suggest:

• The market was valued at USD 92.9 billion in 2019 and is expected to exhibit a CAGR of 4.9% from 2020 to 2027

• Earth moving machinery emerged as the largest product segment in 2019 and is anticipated to reach USD 75.9 billion by 2027

• The material handling machinery segment is expected to register a CAGR of 5.2% over the forecast period

• Key players operating in the market include United Rental; Ashtead Group; Aggreko; Herc Rentals Inc.; and Aktio Corp.

Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/construction-equipment-rental-market-2027

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2.Market Definition
1.3. Information procurement
1.3.1.Purchased database
1.3.2.Radiant Insights internal database
1.3.3.Secondary sources & third-party perspectives
1.3.4 Primary research
1.4.Information Analysis
1.5.Market Formulation & Data Validation
1.7 List Of Abbreviations

Chapter 2 Executive Summary

Chapter 3 Construction Equipment Rental Market Market Variable, Trend & Scope
3.1. Market Lineage outlook
3.1.1. Parent/Related market outlook
3.2. Penetration & Growth Prospect Mapping
3.3 Construction Equipment Rental Market - Value Chain Analysis
3.4 Market Variable Analysis
3.4.1 Market Driver Analysis
3.4.1.1 Access to advanced and updated technology
3.4.1.2 Improved customer service
3.4.2 Market Restraint Analysis
3.4.2.1 Additional expenses with renting
3.5 Construction Equipment Rental Market: Key Company Analysis 2019
3.6 Construction Equipment Rental Market: Company Ranking Analysis By Region 2019
3.6.1 North America
3.6.2 Europe
3.7 Major Deals & Strategic Alliances Analysis
3.8 Business Environment Analysis Tool
3.8.1 Construction Equipment Rental Market: PESTEL Analysis
3.8.2 Construction Equipment Rental Market: Porter’s Analysis

Chapter 4 Construction Equipment Rental Market - Product Segment Analysis
4.1 Earthmoving Machinery
4.1.1 Earthmoving Machinery Market, 2016 - 2027 (USD Billion)
4.2 Material Handling Machinery
4.2.1 Material Handling Machinery Market, 2016 - 2027 (USD Billion)
4.3 Concrete and Road Construction
4.3.1 Concrete and Road Construction Market, 2016 - 2027 (USD Billion)

Continued…

Read all Reports of this category @ https://www.radiantinsights.com/catalog/construction-industry

About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: [email protected]
Website: https://www.radiantinsights.com/

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