Construction Equipment Rental Market Sales, Price, Revenue, Gross Margin and Share 2024

MarketStudyReport.com offers 2018 report on global Construction Equipment Rental market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.
Construction Equipment Rental Market is projected to surpass USD 140 billion by 2024. The rise in the construction of commercial and residential infrastructures is anticipated to drive the construction equipment rental market over the forecast timeline. Government institutions across various regions are making heavy investments on new construction projects as well as reconstructing the existing structures. Rising disposable income coupled with the enhancement in living standards of individuals across the emerging economies is leading to growing investments in shopping malls, recreation centers, and amusement parks. These infrastructure projects generally have stringent timelines, compelling the construction companies to rent machinery instead of purchasing, considering it as a more profitable approach.
Increasing number of aging infrastructures in countries including Japan and the U.S. led the regional governments to restore them with sturdy structures, which is expected to generate a significant demand for the construction equipment rental market. In addition, the industry is currently witnessing an increase in demand pertaining to the growing number of smart city projects undertaken by various regional governments. The ever-increasing rate of accidents in work-sites is compelling construction firms worldwide to make use of advanced machinery, reducing the amount of manual labor. Several benefits offered by renting heavy construction machinery include the reduction in overhead expenses followed by the lowering of technical and other maintenance charges contributing to the construction equipment rental market growth. In addition, renting helps the construction companies to reduce overall project costs, transportation, and servicing-related costs.
Factors such as economic fluctuations and global financial crisis are anticipated to hinder the construction equipment rental market growth over the forecast timeline. In addition, the unavailability of skilled personnel coupled with the increase in fuel prices will negatively impact the industry demand. The preference of human labor over machinery for construction projects across various regions is also expected to limit the construction equipment rental market.
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Increasing demand for enhancing throughput is compelling the construction companies to focus on utilizing more technologically-advanced material handling equipment. The material handling segment is expected to grow at over 5 percent CAGR due to easy availability of renting the heavy machinery. This equipment is capable of moving & storing more efficiently, enabling breakthrough lift heights, visibility, and energy savings, ensuring reliability and safety while working. Growing penetration of GPS, IoT, and RFID technologies in the material handling equipment is a major factor propelling the construction equipment rental market growth. In addition, the availability of semi- and fully-automated material handling machinery is contributing to the industry demand.
Asia Pacific construction equipment rental market is expected to reach over USD 40 billion by 2024. The emerging trend of the organizations toward renting of heavy construction machinery will have a positive impact toward the industry demand. Rising wage rates in China coupled with the changing consumption patterns are generating a huge demand for the rental machinery. Countries including India will witness a significant growth over the forecast timeline. The growth can be attributed to the rising number of high-scale infrastructure projects undertaken by the government such as Chardham Highway Project, Setu Bharatam Project, Bharatmala Project, and Gujarat-Gorakhpur Gas Pipeline.
Major players operating in the construction equipment rental market include United Rentals, Ashtead Group, Cramo PLC, Ahern Rentals, Loxam Group, Nesco Rentals, Herc Holdings, Blueline Rentals, Caterpillar, Inc., and Shanghai Hongxin Equipment Engineering Co., Ltd. The construction equipment rental market is highly fragmented and is witnessing increasing competition due to the presence of a large number of regional as well as international players. The industry players are increasing their focusing on integrating the latest technologies, such as RFID, GPS, IoT, and telematics, into the machinery to provide improvised rental solutions and enhance the fleet utilization.
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Table of Content:
Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Construction equipment industry 360º synopsis, 2013 - 2024
2.1.1. Business trends
2.1.. Regional trends
2.1.3. Product trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.2.1. Construction equipment landscape
3.2.2. Used construction equipment landscape
3.3. Industry ecosystem analysis
3.3.1. Pros and cons - rent vs purchase of construction equipment
3.3.2. Cost calculator - rent vs purchase of construction equipment
3.3.3. Technology providers
3.3.4. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. ISO standards
3.5.1.1. ISO 4310
3.5.1.2. ISO 8686
3.5.1.3. ISO 10245-1:2008
3.5.1.4. ISO 12480-1
3.5.1.5. ISO 23815-1
3.5.1.6. ISO 12482
3.5.1.7. ISO 23814
3.5.1.8. ISO 19432:2012
3.5.2. North America
3.5.3. Europe
3.5.4. Asia Pacific
3.5.5. Latin America
3.5.6. MEA
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. High initial costs of construction equipment
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