Product Code: BC 7322
"The construction equipment rental market is projected to grow at a CAGR of 4.3% between 2019 and 2024"
The construction equipment rental market is estimated to be USD 98.6 billion in 2019 and is projected to reach USD 121.6 billion by 2024, at a CAGR of 4.3% from 2019 to 2024. Growing infrastructure activities in emerging nations and developed construction equipment rental industry in North America and Europe is expected to drive the growth of construction equipment rental market during the forecast period. Preference towards rental for construction rather than purchase is expected to fuel the growth of construction equipment rental market during the forecast period.
The earthmoving segment is projected to drive the market for construction equipment rental market during the forecast period
Based on equipment, the construction equipment rental market is categorized into earthmoving, material handling, and road building & concrete. Among these, the earthmoving segment is projected to lead the construction equipment rental market during the forecast period. This is due to the wide acceptability, mobility, and ease of operation, coupled with the high cost of excavators, making rental a more viable option.
Increasing infrastructure construction activities, such as roads, highways, metros, and airports are expected to drive the growth of the excavators segment of the construction equipment rental market
Based on product, the construction equipment rental market is segregated into excavators, backhoes, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, concrete mixers, and others. Among these, the excavators segment is projected to lead the market due to increase in infrastructure construction activities, such as roads, highways, metros, airports, bridges, along with refurbishment and redevelopment activities associated with residential construction. The cranes segment is projected to grow at the highest CAGR during the forecast period.
North America is estimated to account for the largest share of the market in 2019 and is also projected to lead during the forecast period
The North America region is projected to be the largest, whereas the Asia Pacific region is projected to grow at the highest CAGR in the construction equipment rental market during the forecast period. Increasing investments in construction and rising population in the Asia Pacific region are expected to lead to the increasing demand for construction equipment on rental basis, and the trend is expected to continue during the forecast period. Europe accounted for the second-largest market share in 2018, however, the Asia Pacific is expected to outrank Europe to become the second-largest construction equipment rental market by 2024.
Breakdown of primary interviews for the report on the construction equipment rental market:
- By Company Type - Tier 1 - 20 %, Tier 2 -45 %, and Tier 3 - 35 %
- By Designation - C-Level - 20 %, Director Level - 25 %, and Others - 55 %
- By Region - Europe- 50 %, North America - 20 %, Asia Pacific- 15 %, Latin America- 10 %, Middle East & Africa - 5 %
The globally leading construction equipment renting companies profiled in this report are: United Rentals Inc. (US) (Belgium), United Rentals Inc. (US), Ashtead Group Plc (UK), Loxam (Paris), Herc Holdings Inc. (US), Aktio Corporation (Japan), Nishio Rent All Co. Ltd. (Japan), Kanamoto Co. Ltd. (Japan), Nishio Rent All Co. Ltd (Japan), Nikken Corporation (Japan), and Ahern Rentals (US), among others.
The report covers the construction equipment rental market based on equipment, product, and region. This report aims at estimating the size and future growth potential of the construction equipment rental market across various segmentation types. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report:
From an insight perspective, this report focuses on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the construction equipment rental market, high-growth regions, and drivers, restraints, opportunities, and challenges in the construction equipment rental market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on various types of construction equipment on a rental basis offered by top players operating in the construction equipment rental market.
- Product Development/Innovation: Detailed insights into upcoming construction equipment rental based on type & weight lifting capacity, R&D activities, and new applications in various end-use industries in the construction equipment rental market.
- Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for construction equipment rental across different regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the construction equipment rental market.
- Competitive Assessment: In-depth assessment of strategies, products, and fleet capabilities of leading players in the construction equipment rental market.
TABLE OF CONTENTS
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 126.96.36.199 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 188.8.131.52 Key data from primary sources
- 184.108.40.206 Key industry insights
- 220.127.116.11 Breakdown of primary interviews
- 2.2 MARKET SIZE ESTIMATION
- 2.3 DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS
- 2.4.1 ASSUMPTIONS
- 2.4.2 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES IN THE CONSTRUCTION EQUIPMENT RENTAL MARKET
- 4.2 CONSTRUCTION EQUIPMENT RENTAL MARKET, BY EQUIPMENT
- 4.3 CONSTRUCTION EQUIPMENT RENTAL MARKET, BY PRODUCT
- 4.4 CONSTRUCTION EQUIPMENT RENTAL MARKET, BY REGION
- 4.5 ASIA PACIFIC TO LEAD THE GROWTH OF THE CONSTRUCTION EQUIPMENT RENTAL MARKET DURING THE FORECAST PERIOD
5 MARKET OVERVIEW
- 5.1 MARKET DYNAMICS
- 5.1.1 DRIVERS
- 18.104.22.168 Benefits of rental
- 22.214.171.124 Increasing construction equipment demand
- 126.96.36.199 Shift in trends toward rental
- 5.1.2 RESTRAINTS
- 188.8.131.52 Susceptibility of the construction industry to economic recession
- 5.1.3 OPPORTUNITIES
- 184.108.40.206 Low rental penetration in emerging nations
- 220.127.116.11 Provision in the tax code and adoption of technology provide ample opportunities for contractors to optimize their rental fleet and generate more revenue
- 18.104.22.168 Increasing investment in infrastructure
- 5.1.4 CHALLENGES
- 22.214.171.124 Labor shortage may lead to automation
- 126.96.36.199 Lack of incentives and favorable tax policy
- 5.2 PORTER'S FIVE FORCES ANALYSIS
- 5.2.1 BARGAINING POWER OF SUPPLIERS
- 5.2.2 THREAT OF NEW ENTRANTS
- 5.2.3 THREAT OF SUBSTITUTES
- 5.2.4 BARGAINING POWER OF BUYERS
- 5.2.5 INTENSITY OF COMPETITIVE RIVALRY
6 CONSTRUCTION EQUIPMENT RENTAL MARKET, BY EQUIPMENT
- 6.1 INTRODUCTION
- 6.2 EARTHMOVING
- 6.2.1 HIGH PURCHASING COST OF EARTHMOVING EQUIPMENT MAKES RENTAL A PREFERRED CHOICE
- 6.3 MATERIAL HANDLING
- 6.3.1 INCREASING DEMAND FOR CRANES IN THE BUILDING & CONSTRUCTION INDUSTRY TO DRIVE THE GROWTH OF THE MATERIAL HANDLING SEGMENT
- 6.4 ROAD BUILDING & CONCRETE
- 6.4.1 CAPITAL-INTENSIVE INFRASTRUCTURE PROJECTS IN ASIA PACIFIC, LATIN AMERICA, AND THE MIDDLE EAST ARE EXPECTED TO CREATE MARGINAL DEMAND FOR ROAD BUILDING & CONCRETE EQUIPMENT RENTAL
7 CONSTRUCTION EQUIPMENT RENTAL MARKET, BY PRODUCT
- 7.1 INTRODUCTION
- 7.2 EXCAVATORS
- 7.2.1 WIDE ACCEPTANCE FOR RENTING OF EXCAVATORS AMONG CONTRACTORS DUE TO THE HIGH PRICE OF EQUIPMENT PURCHASE
- 7.3 LOADERS
- 7.3.1 ONGOING ELECTRIFICATION BY OEM TO TARGET RENTAL CUSTOMERS EXPECTED TO IMPACT THE MARKET FOR LOADERS
- 7.4 BACKHOES
- 7.4.1 ALTHOUGH POPULAR IN ASIA AND THE MIDDLE EAST, BACKHOES FACE STIFF COMPETITION FROM CRAWLER EXCAVATORS AND LOADERS IN NORTH AMERICA AND EUROPE
- 7.5 CRANES
- 7.5.1 INCREASING DEMAND FOR FIXED CONSTRUCTION PRODUCTS IN THE BUILDING & CONSTRUCTION INDUSTRY EXPECTED TO DRIVE THE MARKET FOR CRANES RENTAL
- 7.6 CRAWLER DOZERS
- 7.6.1 ROAD BUILDING AND HIGHWAY CONSTRUCTION ACTIVITIES IN ASIA PACIFIC TO DRIVE THE DEMAND FOR CRAWLER DOZERS
- 7.7 CONCRETE PUMPS
- 7.7.1 RAPID EXPANSION OF HOUSING AND INFRASTRUCTURE SECTORS EXPECTED TO DRIVE THE MARKET FOR CONCRETE PUMPS RENTAL
- 7.8 COMPACTORS
- 7.8.1 ROAD BUILDING AND INFRASTRUCTURE ACTIVITIES IN EMERGING NATIONS EXPECTED TO DRIVE THE DEMAND FOR COMPACTORS
- 7.9 TRANSIT MIXERS
- 7.9.1 LESS RENTAL PENETRATION TO AFFECT THE FUTURE RENTAL REVENUE OF TRANSIT MIXERS
- 7.10 CONCRETE MIXERS
- 7.10.1 CONTRACTORS PREFER PURCHASE OF CONCRETE MIXERS OVER RENTAL BECAUSE OF THEIR CONTINUOUS USE
- 7.11 OTHERS
- 7.11.1 MINIMUM RENTAL PENETRATION EXPECTED TO IMPACT THE RENTAL REVENUE PF OTHER PRODUCTS IN THE NEAR FUTURE
8 REGIONAL ANALYSIS
- 8.1 INTRODUCTION
- 8.2 NORTH AMERICA
- 8.2.1 US
- 188.8.131.52 Increasing rental penetration is expected to create market opportunities in the near future
- 8.2.2 CANADA
- 184.108.40.206 Increase in investments in infrastructure development to drive the growth of the market in Canada
- 8.3 ASIA PACIFIC
- 8.3.1 CHINA
- 220.127.116.11 China is projected to lead the global construction equipment rental market in the Asia Pacific region during the forecast period
- 8.3.2 JAPAN
- 18.104.22.168 Mature market with high rental penetration
- 8.3.3 INDIA
- 22.214.171.124 Increasing investments for the construction of infrastructure are expected to drive the market in
- 8.3.4 SOUTH KOREA
- 126.96.36.199 Rental revenues from excavators to drive demand
- 8.3.5 REST OF ASIA PACIFIC
- 188.8.131.52 Increasing investments & growth in industries is expected to drive the growth of the market in the Rest of Asia Pacific countries
- 8.4 MIDDLE EAST & AFRICA
- 8.4.1 UAE
- 184.108.40.206 Investments from government and recovery of the construction industry are expected to drive demand in the construction equipment rental market in the UAE
- 8.4.2 QATAR
- 220.127.116.11 International events to drive demand for construction equipment rental market in Qatar
- 8.4.3 SAUDI ARABIA
- 18.104.22.168 Growth in the oil & gas industry is expected to drive demand for construction equipment rental in Saudi Arabia
- 8.4.4 REST OF MIDDLE EAST & AFRICA
- 22.214.171.124 Rest of Middle East countries offer attractive opportunities for construction equipment rental while growth is expected to be subdued in the Rest of Africa region
- 8.5 EUROPE
- 8.5.1 GERMANY
- 126.96.36.199 Increasing investments in infrastructure are expected to drive market growth in Germany
- 8.5.2 FRANCE
- 188.8.131.52 Fastest-growing market for construction equipment rental
- 8.5.3 UK
- 184.108.40.206 The construction industry is expected to witness sluggish growth and thus impact the market
- 8.5.4 ITALY
- 220.127.116.11 Recovery of the construction industry is expected to drive the growth of the market in Italy
- 8.5.5 SPAIN
- 18.104.22.168 Recovery in residential construction is expected to drive the growth of the market in Spain
- 8.5.6 SWEDEN
- 22.214.171.124 Government initiatives and growth in non-residential sector is expected to drive the growth of the market in Sweden
- 8.5.7 REST OF EUROPE CONSTRUCTION EQUIPMENT RENTAL MARKET,
BY PRODUCT 90
- 126.96.36.199 Booming construction industry especially in Poland in Rest of Europe countries is projected to boost the growth of the market
- 8.6 LATIN AMERICA
- 8.6.1 BRAZIL
- 188.8.131.52 Government focus on infrastructure spending to drive market during the forecast period
- 8.6.2 MEXICO
- 184.108.40.206 Trade agreements to attract foreign investments in construction and infrastructure to drive the market
- 8.6.3 REST OF LATIN AMERICA
- 220.127.116.11 The revival of the construction sector in countries, such as Peru, Colombia, and Argentina to drive the growth of the market in the region
9 COMPETITIVE LANDSCAPE
- 9.1 INTRODUCTION
- 9.2 COMPETITIVE LEADERSHIP MAPPING
- 9.2.1 VISIONARIES
- 9.2.2 INNOVATORS
- 9.2.3 DYNAMIC DIFFERENTIATORS
- 9.2.4 EMERGING COMPANIES
- 9.3 RANKING OF KEY MARKET PLAYERS IN THE CONSTRUCTION EQUIPMENT
RENTAL MARKET 98
10 COMPANY PROFILES
(Business overview, Products offered, Recent developments, SWOT analysis & MnM View)*
- 10.1 UNITED RENTALS, INC.
- 10.2 HERC HOLDINGS INC.
- 10.3 ASHTEAD GROUP PLC
- 10.4 AKTIO CORPORATION
- 10.5 LOXAM SAS
- 10.6 KANAMOTO CO., LTD.
- 10.7 NISHIO RENT ALL CO., LTD.
- 10.8 H&E EQUIPMENT SERVICES, INC.
- 10.9 NIKKEN CORPORATION
- 10.10 CRAMO GROUP
- 10.11 RAMIRENT PLC
- 10.12 MAXIM CRANE WORKS, L.P.
- 10.13 KILOUTOU
- 10.14 SARENS NV
- 10.15 TAIYOKENKI RENTAL CO., LTD.
- 10.16 AHERN RENTALS, INC.
- 10.17 BOELS RENTAL
- 10.18 SPEEDY HIRE PLC
Details on Business overview, Products offered, Recent developments, SWOT analysis & MnM View might not be captured in case of unlisted companies.
- 10.19 OTHER KEY PLAYERS
- 10.19.1 COATES HIRE
- 10.19.2 SUNSTATE EQUIPMENT COMPANY
- 10.19.3 ZEPPELIN RENTAL
- 10.19.4 LIEBHERR MIETPARTNER
- 10.19.5 HITACHI CONSTRUCTION MACHINERY JAPAN CO., LTD.
- 10.19.5.1 Recent developments
- 10.19.6 HSS HIRE
- 10.19.7 AMECO INC.
- 11.1 INSIGHTS OF INDUSTRY EXPERTS
- 11.2 DISCUSSION GUIDE
- 11.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 11.4 AVAILABLE CUSTOMIZATIONS
- 11.5 RELATED REPORTS
- 11.6 AUTHOR DETAILS