Product Code: r6920
“Heavy Construction Machinery Rental Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on heavy construction machinery rental market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
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- Benchmark performance against key competitors.
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Where is the largest and fastest growing market for heavy construction machinery rental? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The heavy construction machinery rental market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Equipment: Earthmoving Equipment; Material Handling Equipment; Heavy Construction Vehicles; Other Equipment
- 2) By Application: Excavation And Demolition; Heavy Lifting; Tunneling; Material Handling; Recycling And Waste Management
- 3) By End User: Infrastructure; Construction; Mining; Oil And Gas; Manufacturing; Other End Users
- Companies Mentioned: Ashtead Group Plc.; United Rentals Inc.; H&E Equipment Services Inc.; Kanamoto Co. Ltd.; Boels Rental
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major companies in the the heavy construction machinery rental market are: Ashtead Group Plc., United Rentals Inc., H&E Equipment Services Inc., Kanamoto Co. Ltd., Boels Rental, Haulotte Group, Herc Rentals Inc., Loxam S.A.S, Sarens, Sumitomo Corporation, Hyundai Heavy Industries Group, Hitachi Construction Machinery Group, Caterpillar Inc., Komatsu Ltd., and Volvo Construction Rental Equipment.
The global heavy construction machinery rental market is expected to grow from $49.79 billion in 2022 to $53.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.7 %. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The heavy construction machinery rental market is expected to reach $70.54 billion in 2027 at a CAGR o f7.1%.
The heavy construction machinery rental market includes revenues earned by entities by providing bulldozers for rent, drilling machinery leasing, and crane hire services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Heavy construction machinery rental refers to the service of renting those equipment/types of machinery that are designed for executing large construction projects. This heavy machinery is used for a specific function that is necessary for a variety of construction tasks. Renting heavy construction equipment saves construction contractors the cost of new equipment, labor costs, maintenance costs, and operational costs.
North America was the largest region in the heavy construction machinery rental market in 2022. The regions covered in the heavy construction machinery rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main equipment categories of heavy construction machinery rental are earthmoving equipment, material handling equipment, heavy construction vehicles, and others. Earthmoving equipment refers to heavy equipment or heavy vehicles that are specifically designed for construction operations and can move and grade soil and rock. The various applications involved are excavation and demolition, heavy lifting, tunnelling, material handling, recycling, and waste management, which are used by infrastructure, construction, mining, oil and gas, manufacturing, and other end users.
The increase in construction and mining activity is expected to propel the growth of the heavy construction machinery rental market going forward. Construction activities refer to the construction of large industrial structures such as buildings, railways, houses, power plants, and others whereas mining refers to the process of extracting useful substances from the earth. In construction and mining activities, renting heavy construction machinery helps reduce operational and financial risks by reducing the cost of new equipment, and maintenance costs. Hence, the increase in construction and mining activities will increase demand in the market. For instance, in December 2022, according to the World Steel Association (WSA), a Belgium-based association, global crude steel production through mining accounted for 1,951 million metric tons in 2021, an increase of 3.8% in crude steel production as compared to 2020. Furthermore, in 2021, according to the Office for National Statistics (ONS), a UK-based producer of official statistics, the total output of construction activities rose by 12.7% in volume terms. Therefore, the increase in construction and mining activity is driving the growth of the heavy construction machinery rental market going forward.
The introduction of artificial intelligence (AI) has emerged as a key trend gaining popularity in the heavy construction machinery rental market. Artificial intelligence refers to the combination of datasets and computer science that enables problem-solving. Artificial intelligence is used to track performance data by attaching sensors to construction equipment. Major companies operating in the heavy construction machinery rental market are adopting new technologies such as artificial intelligence (AI) and machine learning to sustain their position in the market. For instance, in August 2022, Caption, an Israel-based start-up launched 'MineCept' an AI-based system for heavy equipment. This system is installed on heavy construction equipment and provides real-time information to site managers, operators, and safety managers. This artificial intelligence-based system helps to reduce accidents and improve the safety and productivity of heavy construction equipment at industrial plants, mines, or construction sites.
In February 2023, Cooper Equipment Rentals Limited, a Canada-based construction equipment rental company acquired Hub Equipment for an undisclosed amount. This acquisition advances Cooper Equipment Rentals' goal of being the sole Canadian-owned, nationwide rental company, which is consistent with the company's growth strategy. Hub Equipment is a Canada-based provider of specialized heavy equipment that focuses on the sales and rental services of heavy machinery construction equipment.
The countries covered in the heavy construction machinery rental market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The heavy construction machinery rental market research report is one of a series of new reports from The Business Research Company that provides heavy construction machinery rental market statistics, including heavy construction machinery rental industry global market size, regional shares, competitors with heavy construction machinery rental market share, detailed heavy construction machinery rental market segments, market trends, and opportunities, and any further data you may need to thrive in the heavy construction machinery rental industry. This heavy construction machinery rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. Heavy Construction Machinery Rental Market Characteristics
3. Heavy Construction Machinery Rental Market Trends And Strategies
4. Heavy Construction Machinery Rental Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Heavy Construction Machinery Rental Market
- 4.2. Ukraine-Russia War Impact On Heavy Construction Machinery Rental Market
- 4.3. Impact Of High Inflation On Heavy Construction Machinery Rental Market
5. Heavy Construction Machinery Rental Market Size And Growth
- 5.1. Global Heavy Construction Machinery Rental Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Heavy Construction Machinery Rental Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Heavy Construction Machinery Rental Market Segmentation
- 6.1. Global Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Earthmoving Equipment
- Material Handling Equipment
- Heavy Construction Vehicles
- Other Equipment
- 6.2. Global Heavy Construction Machinery Rental Market, Segmentation By Application , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Excavation And Demolition
- Heavy Lifting
- Tunneling
- Material Handling
- Recycling And Waste Management
- 6.3. Global Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Infrastructure
- Construction
- Mining
- Oil And Gas
- Manufacturing
- Other End Users
7. Heavy Construction Machinery Rental Market Regional And Country Analysis
- 7.1. Global Heavy Construction Machinery Rental Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Heavy Construction Machinery Rental Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Heavy Construction Machinery Rental Market
- 8.1. Asia-Pacific Heavy Construction Machinery Rental Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Heavy Construction Machinery Rental Market
- 9.1. China Heavy Construction Machinery Rental Market Overview
- 9.2. China Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Heavy Construction Machinery Rental Market
- 10.1. India Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Heavy Construction Machinery Rental Market
- 11.1. Japan Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Heavy Construction Machinery Rental Market
- 12.1. Australia Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Heavy Construction Machinery Rental Market
- 13.1. Indonesia Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Heavy Construction Machinery Rental Market
- 14.1. South Korea Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Heavy Construction Machinery Rental Market
- 15.1. Western Europe Heavy Construction Machinery Rental Market Overview
- 15.2. Western Europe Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Heavy Construction Machinery Rental Market
- 16.1. UK Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Heavy Construction Machinery Rental Market
- 17.1. Germany Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Heavy Construction Machinery Rental Market
- 18.1. France Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Heavy Construction Machinery Rental Market
- 19.1. Eastern Europe Heavy Construction Machinery Rental Market Overview
- 19.2. Eastern Europe Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Heavy Construction Machinery Rental Market
- 20.1. Russia Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Heavy Construction Machinery Rental Market
- 21.1. North America Heavy Construction Machinery Rental Market Overview
- 21.2. North America Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Heavy Construction Machinery Rental Market
- 22.1. USA Heavy Construction Machinery Rental Market Overview
- 22.2. USA Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Heavy Construction Machinery Rental Market
- 23.1. South America Heavy Construction Machinery Rental Market Overview
- 23.2. South America Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Heavy Construction Machinery Rental Market
- 24.1. Brazil Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Heavy Construction Machinery Rental Market
- 25.1. Middle East Heavy Construction Machinery Rental Market Overview
- 25.2. Middle East Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Heavy Construction Machinery Rental Market
- 26.1. Africa Heavy Construction Machinery Rental Market Overview
- 26.2. Africa Heavy Construction Machinery Rental Market, Segmentation By Equipment , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Heavy Construction Machinery Rental Market, Segmentation By End User , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Heavy Construction Machinery Rental Market Competitive Landscape And Company Profiles
- 27.1. Heavy Construction Machinery Rental Market Competitive Landscape
- 27.2. Heavy Construction Machinery Rental Market Company Profiles
- 27.2.1. Ashtead Group Plc.
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. United Rentals Inc.
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. H&E Equipment Services Inc.
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Kanamoto Co. Ltd.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Boels Rental
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Heavy Construction Machinery Rental Market
29. Heavy Construction Machinery Rental Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer