Press Release

Southeast Asia Construction Equipment Rental Market Upscale with Amplifying Infrastructure Projects

The Southeast Asia Construction Equipment Rental Market is projected to grow at a CAGR of around 7.5% during the forecast period of 2023-28, says MarkNtel Advisors in their recent research report. The expanding investment by the government of different countries, like Vietnam, Indonesia, Thailand, etc., to improve road & transport infrastructure across the region has been uplifting the demand for rental construction equipment over the past few years. Further, to establish a constant source for energy requirements, the government of several countries has been supporting the development of energy projects. Hence, with the rising number of energy projects, the construction for the set-up of plants has also been supplementing. As a result, the market demand for rental construction equipment has also expanded across the region. Owing to the high cost of ownership & maintenance of heavy equipment, the contractors mostly prefer to rent out these types of equipment rather than buy them.

Additionally, the rising number of young earning population, with higher consumer spending has led to significant growth in the retail sector across the region. Also, the higher tourism potential of the region enhances the demand for the retail sector, necessitating the need for consumer goods across the region. Therefore, the growth of the retail sector supported the increasing construction of malls, theatres, retail stores, etc., across the region. In addition to this, with the expansion of cities across Southeast Asia, the top retail brands are also expanding their presence across the region, which boosts the number of construction projects. Consequently, the rising number of construction projects related to the retail sector enhances the need for renting construction equipment across the region.

Moreover, the integration of telematics technology, along with construction equipment, allows rental companies & end-users to track the data & information linked with the equipment. As a result, users can follow the details of the instrument when they first use it, indicating when the equipment requires maintenance. Furthermore, telematics uses GPS, allowing the user to track the real-time position of their equipment, thus preventing theft. Hence, the demand for construction equipment integrated with telematics technology is anticipated to increase significantly in the years ahead, further states the research report, "Southeast Asia Construction Equipment Rental Market Analysis, 2023."

Rising Number of Housing Projects Supported the Residential Sector Growth

Based on end-users, the market is segmented into Residential, Commercial & Retail, Healthcare, Government & Infrastructure, Industrial, and Others. Among them, the residential sector is anticipated to acquire the major market share during 2018-22, mainly with the heightened number of housing projects in countries like Indonesia, Malaysia, etc. As a result, the demand for rental construction equipment has also risen among contractors during the historical years. Besides, the residential projects are also backed by Public-Private Partnerships (PPPs) across the region, which would enhance the number of construction projects in this segment. Hence, with the upcoming projects linked with residential sectors, the market demand for construction equipment rental is projected to amplify considerably during the forecasted years, further contributing to the revenue growth of the Southeast Asia Construction Equipment Rental Market.

Thailand to Dominate the Southeast Asia Construction Equipment Rental Market

Geographically, Thailand has acquired the majority share of the Southeast Asia Construction Equipment Rental market during the historical years. With the rising government investments in renewable energy, road, rail, and housing projects, the number of construction projects is supplementing significantly. In addition, the projects in the commercial sector, like office buildings, leisure facilities, hospitality buildings, retail buildings, and other commercial construction, are also enhancing across the country. As a result of increasing construction projects, the demand for construction equipment rental has also advanced in Thailand.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Nishio Rentall, Kanamoto Co., Ltd., Aktio Co., Ltd., Nikken Corporation, Sumitomo Corporation, PT Coates Indonesia, Tat Hong, Dingchang Group, Ravago Equipment Rentals, Sin Heng Heavy Machinery, Guzent, Chu Kai Co., Ltd and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?