Construction Equipment Rental Market Size Growth Rate by Type, Application, Sales Estimates 2029

Mar 4, 2024 - 13:28

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Construction Equipment Rental Market Size Growth Rate by Type, Application, Sales Estimates 2029

The Construction Equipment Rental Market is expected to reach US$ 146.64 Bn. by 2029, at a CAGR of 4.2% throughout the forecast period.

Construction Equipment Rental Market Overview:

This research aims to offer a comprehensive analysis of the Construction Equipment Rental Market by component, application, industry, and region. The main drivers of the Construction Equipment Rental Market expansion are covered in great detail in the study. A thorough analysis of the market's value chain is also provided by the study.

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Construction Equipment Rental Market Scope:

Primary research is followed by secondary research using sources that gather revenue information from important suppliers in order to evaluate and forecast the Construction Equipment Rental Market. Market segmentation is calculated taking into account vendor offerings. Utilizing the revenue of notable businesses, the bottom-up approach was used to determine the Construction Equipment Rental Market's overall size.

Construction Equipment Rental Market Dynamics:

The Construction Equipment Rental market experiences dynamic influences that shape its trajectory. Economic factors such as fluctuations in construction activity levels, infrastructure investments, and urbanization rates significantly impact the demand for rental equipment. Construction companies often opt for renting equipment to mitigate the high upfront costs associated with purchasing, especially during uncertain economic conditions or for short-term projects. Moreover, technological advancements in construction equipment, including telematics, GPS tracking, and automation, have fueled the demand for newer and more advanced rental options. Additionally, environmental concerns and regulations have led to the development of eco-friendly equipment options within the rental market. Market dynamics also encompass factors such as rental rates, availability of equipment, and the competitive landscape among rental companies. Furthermore, the COVID-19 pandemic has brought about shifts in demand patterns, with increased interest in contactless rental processes and a focus on health and safety measures. Despite challenges such as equipment maintenance costs, transportation logistics, and regulatory compliance, the Construction Equipment Rental market continues to adapt to changing industry needs and technological advancements, driving its growth and evolution.

Construction Equipment Rental Market Segmentation:

by Equipment

Earthmoving
Material Handling
Road Building & Concrete

by Product

Backhoes
Excavators
Loaders
Crawler Dozers
Cranes
Concrete Pumps
Compactors
Transit Mixers
Concrete Mixers
Others

by Application

Residential
Commercial
Industrial

by Segment

IC Engine
Hybrid Type

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Construction Equipment Rental Market Key Players:

The major players covered in the Construction Equipment Rental Market report are

1. United Rentals, Inc.
2. Herc Holdings Inc.
3. Ashtead Group Plc
4. Aktio Corporation
5. Loxam Sas
6. Kanamoto Co., Ltd.
7. Nishio Rent All Co., Ltd.
8. H&E Equipment Services, Inc.
9. Nikken Corporation
10.Cramo Group
11.Ramirent Plc
12.Maxim Crane Works, L.P.
13.Kiloutou
14.Sarens Nv
15.Taiyokenki Rental Co., Ltd.
16.Ahern Rentals, Inc.
17.Boels Rental
18.Speedy Hire Plc
19.Mtandt Rentals Limited
20.Nesco Rentals
21.The Hertz Corporation
22.Unirent LLC
23.Caterpillar Inc.

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Construction Equipment Rental Market Regional Analysis:

Global, North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America market share statistics are accessible individually. Analysts at Maximize evaluate competitive strengths and conduct competitive analysis for each competitor individually.

COVID-19 Impact Analysis on Construction Equipment Rental Market:

Among the industries impacted by the COVID-19 pandemic are aerospace and defense, agriculture, cars, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance. As the effects of COVID-19 spread, they have had an effect on the Construction Equipment Rental Market as a whole as well as the growth rate in 2019 and 2020. The businesses and associations in the Construction Equipment Rental industry, which is navigating the COVID-19 emergency to handle risk digitisation jobs in order to convey reliable data and experiences to the CEOs, rely heavily on our latest administration inquiry, opinions, and knowledge.

Key Questions Answered in the Construction Equipment Rental Market Report are:

Which segment grabbed the largest share in the Construction Equipment Rental Market?
How was the competitive scenario of the Construction Equipment Rental Market in forecast period?
Which are the key factors responsible for the Construction Equipment Rental Market growth?
Which region held the maximum share in the Construction Equipment Rental Market by forecast?

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