Market Research Future published a research report on “Construction Equipment Rental Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
Construction Equipment Rental Market – Overview
The upsurge in the modern construction of commercial and residential infrastructures is highly anticipated that the construction equipment rental market will foster in the years to come. Market Research Future Reports have come up with its research report on the global construction equipment rental market, stating that it will rise and bolster exponentially at a CAGR of 4.7% by the year 2023.
The robust reason behind the growth of the market could be mounting numbers of construction activities coupled with the substantial infrastructure investments will drive the construction equipment rental market growth over the forecast time frame.
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The key players contributing in the global construction equipment rental market are Ahern Rentals, Inc., Ashtead Group, Blueline Rental LLC, Caterpillar, Inc., Cramo PLC, Shanghai Hongxin Equipment Engineering Co., Ltd., Herc Holdings, Nesco Rentals, Riwal, United Rentals, Inc, and many others.
In the reports of MRFR, the global Construction Equipment Rental Market has been segmented under the categories of equipment, type, application, and region.
The equipment type segment is classified into earthmoving, material handling, and concrete & road construction. Wherein, the earthmoving segment is further classified into an excavator, loader, backhoe, motor grader, and others. Next comes the material handling segment, which is further classified into crawler crane, trailer mounted crane, and truck mounted crane.
Segmentation by equipment type, the earthmoving segment had accounted for the largest share in 2017 and is expected to retain this position by 2023 attributed to the upsurge in industrial and infrastructural construction projects that need excavators, loaders, and backhoe. Currently, earthmoving equipment has a huge demand in the construction and mining sectors which is providing the lucrative market potential to the equipment manufacturers across the globe. However, the material handling segment is also projected to witness maximum growth over the forecast period owing to the increase in demand for machines such as crawler cranes, truck-mounted cranes, and trailer-mounted cranes for the construction of mega infrastructure projects especially countries such as China, India, and UAE. Truck-mounted cranes emerged as the largest segment due to its application in the construction of dams, bridges and other buildings.
Segmentation by application, the market is categorized into residential, non-residential, and infrastructure. Among them, the residential segment had accounted for the largest market share in 2017 which is expected to retain this position till 2023. However, the infrastructure segment is also anticipated to exhibit the maximum growth rate in this market attributing to the expansion of industrial construction activities in emerging economies such as China and India.
Detailed Regional Analysis
The assessment of the regions in the Covid 19 Analysis on Construction Equipment Rental Market is conducted for regions such as North America, Europe, Asia-Pacific, and other global regions. The Asia Pacific region is anticipated to be responsible for the principal market portion in 2017, which is predicted to observe a maximum development over the forecast period, shadowed by the North American and European regions. China has developed as the most profitable national market in this region due to the incidence of construction machinery construction facilities. China is expected to assert its dominance further as it is one of the principal exporters of construction machinery and exports a huge portion of the machines to the European and Asia-Pacific region. The North American region was accountable for the second prime region in the construction equipment rental market, which is credited to the upsurge in demand for construction machines such as motor graders and excavators.
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Table of Content:
- Report Overview
- Market Trends and Competitive Landscapes
- Segmentation of Construction Equipment Rental Market by Type
- Segmentation of Market by End-Users
- Market Analysis by Major Regions
- Product Commodity of Market in Major Countries
- North America Construction Equipment Rental Landscapes Analysis
- Europe Construction Equipment Rental Landscapes Analysis
- Asia Pacific Construction Equipment Rental Landscapes Analysis
- Latin America, Middle East & Africa Construction Equipment Rental Landscapes Analysis
- Major Players Profile
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