Rapid Infrastructural Developments Worldwide to Drive the Construction Equipment Rental Market

The Global Construction Equipment Rental Market is expecting around 4.7% CAGR during 2022-27, states MarkNtel Advisors in their recent research report. The rapidly increasing infrastructural developments aided by governments of different countries worldwide, i.e., displaying a swiftly accelerating number of construction projects for highways, airports, shopping malls, corporate offices, & residential complexes, is the prime aspect projected to drive the global market through 2027. 

These projects that would meet the burgeoning requirements of the exponentially rising population and the massive influx of migrants & tourists across countries are surging the demand for construction equipment. However, since the overall cost of equipment, transportation, & maintenance is extremely high, most contractors are increasingly inclined toward renting them. 

Hence, the increasing number of construction activities across different countries is also directly impacting the growth of the global market, further states the research report, “Global Construction Equipment Rental Market Analysis, 2022.

Rapid Smart City Constructions to Promote the Market Expansion across the Residential Sector

The residential sector is expecting the largest share in the Global Construction Equipment Rental Market during 2022-27, principally due to the exponentially rising population entwined with the massive influx of migrants in various countries. It, in turn, is stimulating the demand for the construction of numerous residential complexes and propelling the demand for construction equipment on a rental basis.

Besides, the increasing government focus on infrastructural developments is leading to the rapid construction of smart cities and the transformation of rural areas. As a result, the entire construction sector is witnessing significant projects for the residential sector, which, in turn, is propelling the demand for construction equipment rentals and driving the global market.

Asia-Pacific to Display Remunerative Opportunities for the Market through 2027

The rapid progress in the economies of different countries, i.e., demonstrating a mounting focus of governments on infrastructural developments, viz., construction of airports, highways, shopping malls, hotels, resorts, etc., is driving the Asia-Pacific Construction Equipment Rental Market.

Besides, the rising population levels, mounting development of smart cities, and the availability of cheap labor & advanced equipment manufacturing facilities are making the region an opportunistic area for leading players to expand their offerings and, in turn, further augment the market growth across Asia-Pacific over the forecast years, reveals MarkNtel Advisors in their research report, "Global Construction Equipment Rental Market Analysis, 2022."

Competitive Landscape

The leading players in the Global Construction Equipment Rental Market include United Rentals, Inc., Herc Holdings Inc., Loxam SaS, H&E Equipment Services, Inc., Aktio Corporation, Kanamoto Co., Ltd., Cramo Group, Sarens NV, Ramirent PLC, and Nikken Corporation.

Key Questions Answered in the Research Report:

1. What are the current & future trends in the Global Construction Equipment Rental Market?
2. How has the industry been evolving in terms of geography & service adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Construction Equipment Rental Market?
5. What are the customer orientation, purchase behavior, and expectations from construction equipment rental service providers across various regions?

Market Segmentation:

1. By Type of Equipment (Earthmoving Equipment, Material Handling Equipment, Road Building & Concrete)
2. By Type of Product (Excavator, Loader, Grader, Bulldozer, Road Roller, Tipper, Forklifts, Cranes, Diesel Generator, Concrete Pumps, Concrete Mixers)
3. By Application (Power & Utilities, Mining, Hospitality, Residential, Healthcare & Educational Institutes, Manufacturing Units)
4. By Regions (North America, South America, Europe, Middle East, Africa, Asia-Pacific)
5. By Countries (The US, Canada, Mexico, Brazil, Chile, Argentina, The UK, Germany, France, Russia & CIS, Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, China, India, Japan, South East Asia)
6. By Companies (United Rentals, Inc., Herc Holdings Inc., Loxam SaS, H&E Equipment Services, Inc., Aktio Corporation, Kanamoto Co., Ltd., Cramo Group, Sarens NV, Ramirent PLC, Nikken Corporation)