DUBLIN--(BUSINESS WIRE)--Dec 19, 2022--

The “Construction Equipment Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global construction equipment rental market size reached US$ 102.55 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 144.82 Billion by 2027, exhibiting a CAGR of 5.92% during 2021-2027.

Construction equipment rental refers to the practice of leasing heavy machinery for earthmoving, material handling, concrete mixing and performing related tasks.

There are majorly two types of equipment rental models available in the market. The wet hiring model involves the rental of construction equipment along with personnel to operate and maintain the equipment. On the other hand, under the dry hiring model, the equipment is operated and maintained by in-house specialists of the enterprise.

Renting is more cost-effective as it involves paying a lower maintenance fee and fewer technical charges. This practice also aids the organization in evading initial purchase costs, market fluctuations, depreciation and storage issues in comparison to purchasing first-hand equipment.

The thriving construction industry across the globe, along with the increasing investments in infrastructural development, is one of the key factors driving the growth of the market. With rapid population expansion and growing consumer expenditure capacity, there has emerged an imminent need for the evolution of the residential and public infrastructural sectors.

Consequently, governments of various countries, along with numerous private stakeholders, are investing significantly and undertaking projects for an overall framework development of their respective economies. Additionally, the emerging trend of automation in the construction industry is another major growth-inducing factor.

Rental companies are now providing technologically advanced machinery that is equipped with artificial intelligence (AI), along with professional operators and drivers. This aids in reducing the overall costs for the lessee/organization, thus enhancing operational efficiency. Other factors, including rapid urbanization, the increasing trend of smart cities, and the development of advanced equipment with sustainable and eco-friendly features, are projected to drive the market further.

Companies Mentioned

• Ahern Rentals Inc.
• Boels Rental
• Caterpillar Inc.
• Finning International Inc.
• H&E Equipment Services Inc.
• Herc Rentals Inc.
• Hitachi Construction Machinery Co. Ltd. (Hitachi Ltd.)
• Liebherr-International AG
• Nishio Rent All Vietnam Co. Ltd
• Ramirent Oy
• United Rentals Inc.
• Kanamoto Co. Ltd.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global construction equipment rental market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on equipment type, propulsion system and application.

Breakup by Equipment Type:

• Earthmoving
• Excavator
• Loader
• Backhoe
• Motor Grader
• Others
• Material Handling
• Crawler Crane
• Trailer-Mounted Crane
• Truck-Mounted Crane
• Concrete and Road Construction

Breakup by Propulsion System:

• Electric
• ICE

Breakup by Application:

• Residential
• Commercial
• Industrial

Breakup by Region:

North America

• United States
• Canada

Asia-Pacific

• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others

Europe

• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others

Latin America

• Brazil
• Mexico
• Others
• Middle East and Africa

Key Questions Answered in This Report:

• How has the global construction equipment rental market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global construction equipment rental market?
• What are the key regional markets?
• What is the breakup of the market based on the equipment type?
• What is the breakup of the market based on the propulsion system?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global construction equipment rental market and who are the key players?
• What is the degree of competition in the industry?

For more information about this report visit https://www.researchandmarkets.com/r/65uxab

View source version on businesswire.com:https://www.businesswire.com/news/home/20221219005518/en/

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KEYWORD:

INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY

SOURCE: Research and Markets

Copyright Business Wire 2022.

PUB: 12/19/2022 09:46 AM/DISC: 12/19/2022 09:46 AM

http://www.businesswire.com/news/home/20221219005518/en