Latest research on Construction Equipment Rental Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Construction Equipment Rental market. This report included a special section on the Impact of COVID19. Also, Construction Equipment Rental Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Construction Equipment Rental industry.
Construction Equipment Rental market is growing at a CAGR of 4.78% during the forecast period (2021-2026).
The Construction Equipment Rental market is highly competitive and consists of a number of major players. Top Companies like Cramo Oyj, HSS Hire Group Plc, Herc Rentals Inc., CNH Industrial, Liebherr International AG, Caterpillar, Sumitomo Corp., Hitachi Construction Machinery (Hitachi Group), Ashtead Group Plc, Kanamoto Co. Ltd, H&E Equipment Services Inc., Loxam, United Rentals Inc., Nishio Rent All Co.
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Industry News And Developments:
In 2018, the acquisition of BlueLine increased United Rentals capacity in many of the largest metropolitan areas in North America, including both US coasts, the Gulf South and Ontario.
Scope of the Report
– The growing trend toward automation is expected to drive the growth of the market. However, factors, such as stringent emission regulations for construction machinery, are expected to hinder the growth of the market.
– The Asia-Pacific region is expected to continue to capture a major share in the market during the forecast period, owing to the growing construction sector and infrastructural investments in countries, such as India and ASEAN Countries (such as Malaysia, Indonesia, Vietnam, Singapore).
– Some of the regional players operating in the market are Ashtead Group (Sunbelt Rentals), United Rentals Inc., Herc Rentals Inc., Kanmoto Co. Ltd, and H&E Equipment Services.
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Key Market Trends
Increasing Investments in the ASEAN Construction Industry
– The construction industry is highly dynamic, and numerous factors, such as overall economy, budgets, and global economic scenario, are influencing the market’s growth. Volatility in these aspects affects the businesses of construction equipment OEMs, as well as construction rental equipment. This, in turn, is leading to price fluctuations of new, used, and rental equipment.
– The ASEAN region holds significant opportunities for the growth in demand for construction machinery. With the prospects of large infrastructure projects and shifting labor dynamics, the construction equipment rental market is expected to witness growth post-2020 during the forecast period. With a sudden outbreak of COVID-19 pandemic across the world, many economic sectors, including the construction industry, have been under lockdown for a few weeks/months in the first quarter of 2020.
– In the ASEAN countries, the construction sector is expected to grow at a rate of more than 6% post-2020. It is estimated that over the next five years, the combined value of all the mega-projects in the ASEAN region is expected to be valued at USD 2.9 trillion. Of this value, about USD 1.5 trillion is invested in the planning/pre-planning phase.
Asia-Pacific is Expected to Dominate the Construction Equipment Rental Market
The global construction equipment rental market has been experiencing positive growthover the past three years (2017-2019), as a result of the heavy investments made in the smart residential and commercial buildings sector, and government policies boosting to the manufacturing sector. However, in 2020, the sudden outbreak of COVID-19 pandemic across the world resulted in the lockdown of many economic sectors, including the construction industry, for a few weeks/months during the first quarter of 2020.
However, during this time, critical government construction projects, such as hospital builds, key utilities, and infrastructure, continued working but at a slower pace with less labor force at the job site to prevent the spread of coronavirus. Thus, during 2020, the construction equipment rental market value is likely to fall by ~30% due to a fall in the global economic growth, which, in turn, is resulting in a slow down of construction work timelines.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Construction Equipment Rental Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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