Global Construction Equipment Rental Market : Global Industry Analysis and Forecast
Added: (Tue Jun 11 2019)
Global Construction Equipment Rental Market was valued US$ 162.32 Bn in 2017 and is expected to reach US$ 232.22 Bn by 2026, at a CAGR of 4.58% during a forecast period.
The global construction equipment rental market based on product and region. In terms of product, the global construction equipment market is classified earthmoving & road building equipment, material handling & cranes, and concrete equipment. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Developments in the infrastructure sector, clubbed with a varied range of advanced construction equipment in rental fleets are anticipated to drive demand for the construction equipment rentals market. Safety and security features such as adaptive cruise control, lane departure warning, and automated break systems ensure driver safety. However, these safety features come at a high price, which is not affordable to many small builders and contractors. Thus, these professionals prefer to rent construction machinery. Safety and security features such as adaptive cruise control, lane departure warning, and automated break systems ensure driver safety. However, these safety features come at a high price, which is not affordable to many small builders and contractors. Thus, these professionals prefer to rent construction machinery. Strict regulations, rising ownership cost and financial constraints are some of the key reasons fuelling the construction equipment rental market.
In terms of product, the earth moving machinery segment dominated the market in 2017. Moreover, the material handling machinery segment is expected to exhibit the highest CAGR of 6.1% from 2017 to 2026. Demand for concrete and road construction machinery is expected to grow over the forecast period. Construction pumps are estimated to gain significant market share, especially in Middle East and Africa, wherein the trend of building massive infrastructures is high.
In terms of region, Asia Pacific dominated the global construction equipment rental market in 2017. The growth can be attributed to the escalating infrastructure reconstruction activities followed by heavy investments in the construction sector in regions such as China, India, and Japan. Also, the European market has less demand for new equipment, it is one of the prominent markets for used ones. Europe imports construction machinery from U.S. and China.
Some of the key players in the global construction equipment rental market are Ahern Rentals, Inc., Ashtead Group, Blueline Rental LLC, Cramo PLC, Loxam Group, Shanghai Hongxin Equipment Engineering Co., Ltd., Caterpillar, Inc., Herc Holdings, Riwal, Nesco Rentals, and United Rentals, Inc.
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The scope of the Global Construction Equipment Rental Market
Global Construction Equipment Rental Market by Product
- Earthmoving & Road Building Equipment
- Material Handling & Cranes
- Concrete Equipment
Global Construction Equipment Rental Market by Geography
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
Key Players operating in the Global Construction Equipment Rental Market
- Ahern Rentals, Inc.
- Ashtead Group
- Blueline Rental LLC
- Cramo PLC
- Loxam Group
- Shanghai Hongxin Equipment Engineering Co., Ltd.
- Caterpillar, Inc.
- Herc Holdings
- Riwal
- Nesco Rentals
- United Rentals, Inc.
- Zahid Group.
- Industrial Supplies Development Co. Ltd
- JCB
- Caterpillar Inc.
- Gemini Equipment and Rentals (GEAR)
- Hertz Equipment
- John Deere
- KOMATSU EQUIPMENT
- Maxim Crane Works
- Neff Rental
This Report Is Submitted By This @Maximize Market Research Company
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Submitted by:suraj patil