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Press Release
Construction Equipment Rental Market Size, Share & Analysis
Fortune Business Insights recently released “The Construction Equipment Rental Market Report 2024,” offering in-depth market analysis and critical insights to help clients gain a competitive edge. This comprehensive study delivers key findings for strategic advantage.
Construction Equipment Rental Market Share, Size & Industry Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment, Concrete & Road Building Equipment, and Others), By Application (Residential, Commercial, and Industrial), and Regional Forecast, 2022-2029
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The market’s competitive landscape for construction equipment rental market is evaluated by analyzing key industry players, their production capacities and utilization rates, construction equipment rental marketM’s production chain, manufacturer pricing, and the revenue each manufacturer generates globally in the construction equipment rental marketM sector.
Major companies of construction equipment rental market:
- United Rentals, Inc. (U.S.)
- Loxam (France)
- Sunbelt (U.S.)
- Taiyokenki Rental Co., Ltd. (Japan)
- AKTIO Corporation (Japan)
- Herc Rentals Inc. (U.S.)
- Ahern Rentals. (U.S.)
- H&E Equipment Services, Inc. (U.S.)
- Nikken Corporation (Japan)
- Nishio Rent All Co. Ltd. (Japan)
Market atributes:
| Report Componant | Aspects |
| Forecast Period | 2021-2029 |
| Projected Market Value for 2021: | USD 111.6 billion |
| Forecasted Market Value for 2029: | USD 164.6 billion |
| Compound Annual Growth Rate (CAGR): | 5.1 |
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Key Drivers and restraints:
- Drivers:
- Cost Savings: Renting construction equipment reduces upfront capital expenditures and ongoing maintenance costs for businesses, providing financial flexibility.
- Increased Demand for Infrastructure Projects: The rise in infrastructure and construction projects drives the need for flexible and accessible equipment rental solutions.
- Technological Advancements: Modern rental fleets offer advanced and efficient equipment, including GPS and telematics, enhancing productivity and safety on job sites.
- Short-Term Project Needs: The growing trend of short-term and project-based construction work boosts the demand for rental equipment instead of long-term ownership.
- Maintenance and Support Services: Rental companies often provide comprehensive maintenance and support, ensuring well-maintained equipment and reducing downtime for renters.
- Restraints:
- High Rental Costs: The cumulative cost of renting equipment over time can become significant, potentially impacting the overall project budget.
- Availability and Logistics: Equipment availability and logistical challenges can sometimes cause delays and affect project timelines.
- Maintenance Responsibilities: Renters are often responsible for routine maintenance and ensuring equipment is returned in good condition, which can be burdensome.
- Economic Fluctuations: Economic downturns can lead to reduced construction activity and lower demand for rental equipment, affecting rental companies’ revenue.
- Competition and Pricing Pressure: Intense competition among rental companies can lead to pricing pressures and reduced profit margins for equipment rental businesses.
Regional atributes:
- North America (By Equipment Type, By Application, By Country)
- U.S. (By Equipment Type)
- Canada (By Equipment Type)
- Europe (By Equipment Type, By Application, By Country)
- U.K. (By Equipment Type)
- Germany (By Equipment Type)
- France (By Equipment Type)
- Italy (By Equipment Type)
- Rest of Europe
- Asia Pacific (By Equipment Type, By Application, By Country)
- China (By Equipment Type)
- Japan (By Equipment Type)
- India (By Equipment Type)
- Southeast Asia (By Equipment Type)
- Rest of Asia Pacific
- Middle East & Africa (By Equipment Type, By Application, By Country)
- GCC Countries (By Equipment Type)
- South Africa (By Equipment Type)
- Rest of Middle East and Africa
- Latin America (By Equipment Type, By Application, By Country)
- Brazil (By Equipment Type)
- Mexico (By Equipment Type)
- Rest of Latin America
Industry developments:
- November 2021 – Herc Holdings Inc. acquired Rapid Equipment Rental Limited, a Toronto-based rental company.
- June 2020 – H&E Equipment Services Inc., announced the relocation of its Georgetown branch to a Texas-based expanded unit.
- April 2021 – General Finance Corp. and United Rentals inked a definitive agreement for the former’s acquisition by United Rentals. The deal involved a transaction value of USD 996 million.
- February 2020 – Boels took over Cramo PLC to increase its customer base. The move was aimed at becoming one of the major players in the rental market in Europe.
- June 2022 – Sunbelt Rentals announced its partnership with Britishvolt, to support the development of Britishvolt’s first full-scale Cambois-based battery Gigaplant. This long-term deal will also see the companies work closely together to favor the development of battery solutions for power plants and heavy equipment to help decarbonize the construction and equipment rental sector.
Table of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
TOC Continued…!
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