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Market Definition
The world is observing rapid construction activities for different purposes and, in turn, growing demand for construction equipment. However, their high ownership & maintenance cost is restraining their sales and projecting a greater inclination of contractors toward renting such equipment.
Renting construction equipment provides an extensive range of benefits like cost-effectiveness, increased exposure to technologically advanced & latest equipment, efficiency in construction operations, & automation & telematics for complex procedures, among others. These incredible benefits are playing a crucial role in expanding the construction equipment rental industry worldwide.
Market Insights
The Global Construction Equipment Rental Market is projected to grow at a CAGR of around 4.7% during the forecast period, i.e., 2022-27. The growth of the market is driven principally by the swiftly increasing number of construction activities across different countries worldwide owing to the growing government focus on infrastructural developments, i.e., surging the demand for construction equipment.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 4.7% |
| Regions Covered | North America: The US, Canada, Mexico |
| South America: Brazil, Argentina, Chile | |
| Europe: Germany, The UK, France, Russia & CIS, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South East Asia, Rest of Asia Pacific | |
| Middle East & Africa: The UAE, Saudi Arabia, Qatar, Kuwait, Rest of Middle East & Africa | |
| Key Companies Profiled | 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, Others |
| Unit Denominations | USD Million/Billion |
Moreover, since the high cost of construction equipment & ownership for transportation & maintenance can be challenging, contractors are swiftly inclining toward their rental supply for different construction applications. Besides, rapid technological advancements in construction equipment, with the integration of telematics & automation, are also propelling the demand for construction equipment among contractors on a rental basis and, in turn, driving the global market.
Furthermore, the most prominent consumers of construction equipment rentals are the developing economies, which are focused extensively on building infrastructure to meet the escalating demand for better housing & work opportunities and enhance the overall stature of the countries on a global platform. It, in turn, is playing a crucial role in generating growth opportunities for the leading players to expand their service offerings & scalability and augmenting the overall market growth through 2027.
Impact of Covid-19 on the Global Construction Equipment Rental Market
The Covid-19 pandemic in 2020 had a decelerating impact on most industries worldwide, and the Global Construction Equipment Rental Market was no exception. With the imposition of stringent movement restrictions & frequent lockdowns to curb the spread of this dreadful disease, the leading players in the market faced several unprecedented challenges associated with offering construction equipment rental services across different countries.
As most governments suspended such operations, the demand for these services witnessed a significant decline amidst the crisis. Besides, research & development activities to exhibit technologies like automation & telematics were put on a temporary hold, which, in turn, introduced massive financial losses for the prominent market players.
However, with the upliftment of restrictions & recommencement of business operations owing to the declining number of Covid-19 cases, the leading market players resumed their offerings & services to contractors in order to recover from revenue loss that occurred amidst the pandemic.
Market Segmentation
Based on the Application:
Amongst all end-users, the residential sector dominated the Global Construction Equipment Rental Market with the largest share in the previous years. It attributes principally to the exponentially rising population, i.e., surging the demand for efficient & modern residential complexes and stimulating construction activities.
It, in turn, is directly impacting the demand for construction equipment on a rental basis and driving the global market across the residential sector. Besides, the mounting focus of governments of different countries on building smart cities is another factor generating growth opportunities for the leading players to expand their offerings & scalability and meet the burgeoning demand for construction equipment rentals across the residential sector.
On the other hand, the hospitality sector is anticipated to display the fastest market growth during the forecast period, principally due to the swift footfall of migrants & tourists in different countries, i.e., surging the need for the construction of hotels, resorts, airports, shopping malls, railways & metro stations, among others and, in turn, augmenting the demand for construction equipment rentals.
Regional Landscape
Geographically, the Global Construction Equipment Rental Market expands across:
Here, Asia-Pacific is anticipated to observe the fastest growth in the Construction Equipment Rental Market during 2022-27. It owes principally to the exponentially rising population, increasing influx of migrants & tourists, and growing focus of governments of regional countries on infrastructural developments. It, in turn, is displaying multiple ongoing & upcoming construction projects, coupled with lucrative opportunities for the leading players in the region.
With the surging need to construct residential complexes to habitat the rising population, develop rural areas, & build smart cities, the demand for construction equipment on a rental basis is anticipated to witness an upswing across the region in the coming years. Moreover, the growing footfall of tourists is also stimulating the construction of hotels, resorts, airports, shopping malls, & other commercial complexes across the region and, in turn, fueling the regional market growth.
Furthermore, several multinational companies are establishing their headquarters across different countries in Asia-Pacific, i.e., leading to the construction of various corporate buildings and infusing the demand for equipment on a rental basis. Nonetheless, in the region, countries like China & India are anticipated to witness maximum construction projects and, consequently, the regional market in the years to come.
Key Questions Answered in the Market Research Report:
What are the key results derived from surveys conducted during the Global Construction Equipment Rental Market study?
Frequently Asked Questions
A. The Global Construction Equipment Rental Market is projected to grow at a CAGR of around 4.7% during 2022-27.
A. Easy availability of construction equipment on a rentals basis, coupled with their benefits like cost savings on the purchase, transportation, & maintenance of heavy construction equipment, is the most prominent aspect projected to drive the Global Construction Equipment Rental Market through 2027.
A. An increasing number of technological advancements in construction equipment, with new features & capabilities for efficient & quicker operations, is emerging as the key trend in the Global Construction Equipment Rental Market.
A. The residential sector is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Construction Equipment Rental Market through 2027.
1. Research Basics
1.1. Product Definition
1.2. Research Process
1.3. Assumptions
1.4. Market Segmentation
2. Executive Summary
3. Expert Verbatim- What our Experts Say?
4. Global Construction Equipment Rental Market Voice of Customer
4.1. Brand Awareness
4.2. End User Expectation
4.3. Key Factors Impacting Vendor Selection
4.4. Key Issues Encountered
4.5. Vendor’s Receptiveness to Address Key Customer Issues
4.6. Future Requirements
5. Global Construction Equipment Rental Market Outlook, 2017-2027F
5.1. Market Potential & Analysis
5.1.1.Market Revenue
5.2. Market Segmentation & Analysis
5.2.1.By Type of Equipment
5.2.1.1. Earthmoving Equipment
5.2.1.2. Material Handling Equipment
5.2.1.3. Road Building & Concrete
5.2.2.By Type of Product
5.2.2.1. Excavator
5.2.2.2. Loader
5.2.2.3. Grader
5.2.2.4. Bulldozer
5.2.2.5. Road Roller
5.2.2.6. Tipper
5.2.2.7. Forklifts
5.2.2.8. Cranes
5.2.2.9. Diesel Generator
5.2.2.10. Concrete Pumps
5.2.2.11. Concrete Mixers
5.2.2.12. Others
5.2.3.By Application
5.2.3.1. Power & Utilities
5.2.3.2. Mining
5.2.3.3. Hospitality
5.2.3.4. Residential
5.2.3.5. Healthcare & Educational Institutes
5.2.3.6. Manufacturing Units
5.2.3.7. Others
5.2.4.By Region
5.2.4.1. North America
5.2.4.2. South America
5.2.4.3. Europe
5.2.4.4. Middle East
5.2.4.5. Africa
5.2.4.6. Asia Pacific
5.2.5.By Company
5.2.5.1. Revenue Shares
5.2.5.2. Strategic Factorial Indexing
5.2.5.3. Competitor Placement in MarkNtel Quadrant
6. North America Construction Equipment Rental Market Outlook, 2017-2027F
6.1. Market Potential & Analysis
6.1.1.Market Revenue
6.2. Market Segmentation & Analysis
6.2.1.By Type of Equipment
6.2.2.By Type of Product
6.2.3.By Application
6.2.4.By Country
6.2.4.1. The United States
6.2.4.2. Canada
6.2.4.3. Mexico
6.3. The United States Construction Equipment Rental Market Outlook, 2017-2027F
6.3.1.Market Potential & Analysis
6.3.1.1. Market Revenue
6.3.2.Market Segmentation & Analysis
6.3.2.1. By Type of Equipment
6.3.2.2. By Type of Product
6.3.2.3. By Application
6.4. Canada Construction Equipment Rental Market Outlook, 2017-2027F
6.4.1.Market Potential & Analysis
6.4.1.1. Market Revenue
6.4.2.Market Segmentation & Analysis
6.4.2.1. By Type of Equipment
6.4.2.2. By Type of Product
6.4.2.3. By Application
6.5. Mexico Construction Equipment Rental Market Outlook, 2017-2027F
6.5.1.Market Potential & Analysis
6.5.1.1. Market Revenue
6.5.2.Market Segmentation & Analysis
6.5.2.1. By Type of Equipment
6.5.2.2. By Type of Product
6.5.2.3. By Application
7. South America Construction Equipment Rental Market Outlook, 2017-2027F
7.1. Market Potential & Analysis
7.1.1.Market Revenue
7.2. Market Segmentation & Analysis
7.2.1.By Type of Equipment
7.2.2.By Type of Product
7.2.3.By Application
7.2.4.By Country
7.2.4.1. Brazil
7.2.4.2. Chile
7.2.4.3. Argentina
7.3. Brazil Construction Equipment Rental Market Outlook, 2017-2027F
7.3.1.Market Potential & Analysis
7.3.1.1. Market Revenue
7.3.2.Market Segmentation & Analysis
7.3.2.1. By Type of Equipment
7.3.2.2. By Type of Product
7.3.2.3. By Application
7.4. Chile Construction Equipment Rental Market Outlook, 2017-2027F
7.4.1.Market Potential & Analysis
7.4.1.1. Market Revenue
7.4.2.Market Segmentation & Analysis
7.4.2.1. By Type of Equipment
7.4.2.2. By Type of Product
7.4.2.3. By Application
7.5. Argentina Construction Equipment Rental Market Outlook, 2017-2027F
7.5.1.Market Potential & Analysis
7.5.1.1. Market Revenue
7.5.2.Market Segmentation & Analysis
7.5.2.1. By Type of Equipment
7.5.2.2. By Type of Product
7.5.2.3. By Application
8. Europe Construction Equipment Rental Market Outlook, 2017-2027F
8.1. Market Potential & Analysis
8.1.1.Market Revenue
8.2. Market Segmentation & Analysis
8.2.1.By Type of Equipment
8.2.2.By Type of Product
8.2.3.By Application
8.2.4.By Country
8.2.4.1. The UK
8.2.4.2. Germany
8.2.4.3. France
8.2.4.4. Russia & CIS
8.2.4.5. Rest of Europe
8.3. The UK Construction Equipment Rental Market Outlook, 2017-2027F
8.3.1.Market Potential & Analysis
8.3.1.1. Market Revenue
8.3.2.Market Segmentation & Analysis
8.3.2.1. By Type of Equipment
8.3.2.2. By Type of Product
8.3.2.3. By Application
8.4. Germany Construction Equipment Rental Market Outlook, 2017-2027F
8.4.1.Market Potential & Analysis
8.4.1.1. Market Revenue
8.4.2.Market Segmentation & Analysis
8.4.2.1. By Type of Equipment
8.4.2.2. By Type of Product
8.4.2.3. By Application
8.5. France Construction Equipment Rental Market Outlook, 2017-2027F
8.5.1.Market Potential & Analysis
8.5.1.1. Market Revenue
8.5.2.Market Segmentation & Analysis
8.5.2.1. By Type of Equipment
8.5.2.2. By Type of Product
8.5.2.3. By Application
8.6. Russia & CIS Construction Equipment Rental Market Outlook, 2017-2027F
8.6.1.Market Potential & Analysis
8.6.1.1. Market Revenue
8.6.2.Market Segmentation & Analysis
8.6.2.1. By Type of Equipment
8.6.2.2. By Type of Product
8.6.2.3. By Application
9. Middle East Construction Equipment Rental Market Outlook, 2017-2027F
9.1. Market Potential & Analysis
9.1.1.Market Revenue
9.2. Market Segmentation & Analysis
9.2.1.By Type of Equipment
9.2.2.By Type of Product
9.2.3.By Application
9.2.4.By Country
9.2.4.1. Saudi Arabia
9.2.4.2. UAE
9.2.4.3. Qatar
9.2.4.4. Kuwait
9.2.4.5. Rest of Middle East
9.3. Saudi Arabia Construction Equipment Rental Market Outlook, 2017-2027F
9.3.1.Market Potential & Analysis
9.3.1.1. Market Revenue
9.3.2.Market Segmentation & Analysis
9.3.2.1. By Type of Equipment
9.3.2.2. By Type of Product
9.3.2.3. By Application
9.4. UAE Construction Equipment Rental Market Outlook, 2017-2027F
9.4.1.Market Potential & Analysis
9.4.1.1. Market Revenue
9.4.2.Market Segmentation & Analysis
9.4.2.1. By Type of Equipment
9.4.2.2. By Type of Product
9.4.2.3. By Application
9.5. Qatar Construction Equipment Rental Market Outlook, 2017-2027F
9.5.1.Market Potential & Analysis
9.5.1.1. Market Revenue
9.5.2.Market Segmentation & Analysis
9.5.2.1. By Type of Equipment
9.5.2.2. By Type of Product
9.5.2.3. By Application
9.6. Kuwait Construction Equipment Rental Market Outlook, 2017-2027F
9.6.1.Market Potential & Analysis
9.6.1.1. Market Revenue
9.6.2.Market Segmentation & Analysis
9.6.2.1. By Type of Equipment
9.6.2.2. By Type of Product
9.6.2.3. By Application
10. Africa Construction Equipment Rental Market Outlook, 2017-2027F
10.1. Market Potential & Analysis
10.1.1. Market Revenue
10.2. Market Segmentation & Analysis
10.2.1. By Type of Equipment
10.2.2. By Type of Product
10.2.3. By Application
10.2.4. By Country
10.2.4.1. South Africa
10.2.4.2. Nigeria
10.2.4.3. Rest of Africa
10.3. South Africa Construction Equipment Rental Market Outlook, 2017-2027F
10.3.1. Market Potential & Analysis
10.3.1.1. Market Revenue
10.3.2. Market Segmentation & Analysis
10.3.2.1. By Type of Equipment
10.3.2.2. By Type of Product
10.3.2.3. By Application
10.4. Nigeria Construction Equipment Rental Market Outlook, 2017-2027F
10.4.1. Market Potential & Analysis
10.4.1.1. Market Revenue
10.4.2. Market Segmentation & Analysis
10.4.2.1. By Type of Equipment
10.4.2.2. By Type of Product
10.4.2.3. By Application
11. Asia Pacific Construction Equipment Rental Market Outlook, 2017-2027F
11.1. Market Potential & Analysis
11.1.1. Market Revenue
11.2. Market Segmentation & Analysis
11.2.1. By Type of Equipment
11.2.2. By Type of Product
11.2.3. By Application
11.2.4. By Country
11.2.4.1. China
11.2.4.2. India
11.2.4.3. Japan
11.2.4.4. South East Asia
11.2.4.5. Rest of Asia Pacific
11.3. China Construction Equipment Rental Market Outlook, 2017-2027F
11.3.1. Market Potential & Analysis
11.3.1.1. Market Revenue
11.3.2. Market Segmentation & Analysis
11.3.2.1. By Type of Equipment
11.3.2.2. By Type of Product
11.3.2.3. By Application
11.4. India Construction Equipment Rental Market Outlook, 2017-2027F
11.4.1. Market Potential & Analysis
11.4.1.1. Market Revenue
11.4.2. Market Segmentation & Analysis
11.4.2.1. By Type of Equipment
11.4.2.2. By Type of Product
11.4.2.3. By Application
11.5. Japan Construction Equipment Rental Market Outlook, 2017-2027F
11.5.1. Market Potential & Analysis
11.5.1.1. Market Revenue
11.5.2. Market Segmentation & Analysis
11.5.2.1. By Type of Equipment
11.5.2.2. By Type of Product
11.5.2.3. By Application
11.6. ASEAN Construction Equipment Rental Market Outlook, 2017-2027F
11.6.1. Market Potential & Analysis
11.6.1.1. Market Revenue
11.6.2. Market Segmentation & Analysis
11.6.2.1. By Type of Equipment
11.6.2.2. By Type of Product
11.6.2.3. By Application
12. Global Construction Equipment Rental Market Trends & Insights
13. Global Construction Equipment Rental Market Dynamics
13.1. Growth Drivers
13.2. Challenges
13.3. Impact Analysis
14. Global Construction Equipment Rental Market Hotspot & Opportunities
15. Global Construction Equipment Rental Market Key Strategic Imperatives for Success & Growth
16. Competition Outlook
16.1. Competition Matrix
16.1.1. Product Portfolio
16.1.2. Specialization
16.1.3. Target Markets
16.1.4. Target End Users
16.1.5. Research & Development
16.1.6. Strategic Alliances
16.1.7. Strategic Initiatives
16.2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
16.2.1. United Rentals, Inc.
16.2.2. Herc Holdings Inc.
16.2.3. Loxam SaS
16.2.4. H&E Equipment Services, Inc.
16.2.5. Aktio Corporation
16.2.6. Kanamoto Co., Ltd.
16.2.7. Cramo Group
16.2.8. Sarens NV
16.2.9. Ramirent PLC
16.2.10. Nikken Corporation
17. Disclaimer
