As per current published report by Markntel Advisors the Construction Equipment Rental Market is estimated to grow at a CAGR of around 5.8% during the forecast period, i.e., 2024-30. A detailed discussion of industry behavior is presented. It will assist companies and other stakeholders in making decisions that assure strong earnings in the upcoming years, and also describes the future trend. In order to assist readers in making defensible choices on market projects, this research will offer a useful summary of the market and its dynamic environment. The growth prospects that will enable the market to extend its operations in current markets will be the main focus of this analysis.
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Global Construction Equipment Rental Market Driver:
Increasing Adoption of Rental Equipment in Various Industries to Bolster the Market Growth – The construction industry's cyclical nature and current economic conditions make renting construction equipment an advantageous option. Numerous industries, including contractors as well as many firms, are increasingly inclined towards rental options versus purchasing new machinery. Industry leaders like BigRentz have noticed a significant shift in the trend toward rentals over ownership or leasing by builders and contractors alike. The looming threat of recession is also impacting this climate, with growing anticipation among business executives and economists that it may increase demand for rented resources while steering companies away from costly capital investments like buying or leasing their equipment.
Furthermore, due to the economic volatility and expenses involved, construction companies are careful with their costs. As a result, they strive to maximize the usefulness of equipment bought for optimal value. Consequently, renting equipment has become an appealing substitute that is fueling the growth of the market.
The Construction Equipment Rental Market has segmented the market into the following categories:
By Equipment Type
(Earthmoving Equipment, Material Handling Equipment, Concrete and Road Construction, Others),
By Product Type
(Excavator, Loader, Grader, Bulldozer, Road Roller, Tipper, Forklifts, Cranes, Diesel Generator, Concrete Pumps, Concrete Mixers, Others),
By Application
(Residential, Commercial, Industrial)
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-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Environment Featuring Key Players:
Caterpillar Inc., United Rentals, Inc., Sennebogen, Komatsu Ltd., CNH Industrial N.V., Loxam, Zoomlion Heavy Industry Science and Technology Co., Ltd., Herc Rentals Inc., H&E Equipment Service, Nishio Rent All Co. Ltd., Nikken Corporation, Sunbelt, Taiyokenki Rental Co., Ltd., Ramirent Plc., AKTIO Corporation and Others
Reasons to Purchase this Report:
-Market segmentation based on both economic and non-economic characteristics, analyzed both qualitatively and quantitatively
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-Providing market value estimates (in USD Million/Billion) for every section and subsegment
-Identifies the area and market segment that are anticipated to expand at the quickest rate and to hold the majority of shares.
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-A geographical analysis that shows how the product or service is used in each area and what factors are influencing the market in that particular area
-Comprehensive company profiles for the main market players that include a company overview, company insights, product benchmarking, and SWOT analysis
-The present and projected market outlook in light of recent changes, which include growth prospects and drivers as well as obstacles and constraints in both developed and emerging regions
-Using Porter's Five Forces approach, provides a thorough examination of the market from a variety of angles.
-Uses the value chain to offer market intelligence.
-The state of the market dynamics and potential for future market expansion
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