Challenges and Opportunities in Construction Equipment Rental: A Forecast

According to MarketsandMarkets Construction Equipment Rental Market Size, Share, Analysis, Future, Trends, Outlook & Forecast, recent developments, trade regulations, import-export analysis, production analysis, changes in market regulations, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.

The construction equipment rental market is projected to grow from USD 98.6 billion in 2019 to reach USD 121.6 billion by 2024, at a CAGR of 4.3% from 2019 to 2024. The major drivers for the market include the increasing demand for rental equipment due to various benefits, shift in trend towards rental, increasing infrastructure activities in emerging nations, and cost-benefits associated with the use of construction equipment on a rental basis rather than purchasing it.

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The Construction Equipment Rental Market is highly competitive, with key industry players adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations. The major players participating in the market include

Top Companies in Construction Equipment Rental Market

  • United Rentals Inc. (US)
  • Ashtead Group Plc (UK)
  • Loxam (Paris)
  • Herc Holdings Inc. (US)
  • Aktio Corporation (Japan)
  • Nishio Rent All Co. Ltd. (Japan)
  • Kanamoto Co. Ltd.  (Japan)

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Construction Equipment Rental Market Dynamics:

Key Driver: Growing Sales of Cosmetics

With the growing customer inclination toward trying makeup & cosmetics, several brands are introducing an extensive range of products, i.e., directly influencing the demand for makeup removers. Besides, rising awareness about various benefits of skincare & makeup removal products is also anticipated to stimulate the demand for makeup removers worldwide. It, as a result, would instigate manufacturers to introduce new products for different skin types with soothing formulas & results like hydration, glow, & healing, etc., and drive the Global Makeup Remover Market during the forecast period.

The earthmoving construction equipment segment is projected to lead the market during the forecast period

Based on equipment, the construction equipment rental market is categorized into earthmoving, material handling, and road building & concrete. Among these, earthmoving construction equipment accounted for the largest share of the construction equipment rental market in 2018 due to the wide application in building & construction activities. Earthmoving equipment is high-value, requiring significant capital investments for the installation and maintenance of equipment fleets. Contractors prefer renting equipment instead of purchasing as this enables them to use the capital, which otherwise would have been invested in the purchase of equipment.

North America is projected to be the largest market for construction equipment rental during the forecast period

Based on region, the construction equipment rental market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these, North America accounted for the largest share of the market in 2018 and is expected to continue in the same trend during the forecast period due to increase in building & construction activities in the region, coupled with favorable policies which lead to the demand for construction equipment rental. The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period.

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The Aims of the Construction Equipment Rental Market Research Study:

-To define, describe and forecast the Construction Equipment Rental Market and all its segments, to provide the stakeholder with insight into all the elements and sub-segments.

-To descriptively and objectively provide information on the significant factors influencing the market growth and both negatively or positively fluctuating the market graph, such as drivers, restraints, opportunities, and challenges. 

-To strategically analyze the possible micro-markets and micro-marketing strategies with respect to individual growth trends, future prospects, and contributions to the overall industry. 

-To inspect and find profit opportunities in the market for stakeholders and suggest counter strategies after explaining the industry’s competitive landscape. 

-To strategically profile the primary market participants and comprehensively analyze and inspect their market strategies, shares, and core competencies. 

-To track and analyze competitive developments such as joint ventures, partnerships, agreements, collaborations, etc. And also study the impact of such developments on the market and its trends.

Table of Contents

1 Introduction (Page No. – 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

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2 Research Methodology (Page No. – 19)
    2.1 Research Data
           2.1.1 Secondary Data
           Key Data From Secondary Sources
           2.1.2 Primary Data
           Key Data From Primary Sources
           Key Industry Insights
           Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions and Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. – 27)

4 Premium Insights (Page No. – 30)
    4.1 Attractive Opportunities in the Construction Equipment Rental Market
    4.2 Construction Equipment Rental Market, By Equipment
    4.3 Construction Equipment Rental Market, By Product
    4.4 Construction Equipment Rental Market, By Region
    4.5 Asia Pacific to Lead the Growth of the Construction Equipment Rental Market During the Forecast Period

5 Market Overview (Page No. – 34)
    5.1 Market Dynamics
           5.1.1 Drivers
           Benefits of Rental
           Increasing Construction Equipment Demand
           Shift in Trends Toward Rental
           5.1.2 Restraints
           Susceptibility of the Construction Industry to Economic Recession
           5.1.3 Opportunities