Selbyville, Delaware, Feb. 28, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on construction equipment rental market which estimates the global market valuation for construction equipment rental will cross US$ 170 billion by 2026. The rising number of construction activities coupled with increasing infrastructure investments will propel the market growth.
Government organizations across the globe are focusing on refurbishing the existing infrastructures and undertaking new construction projects for the overall economic development of the region, attributing to the construction equipment rental market growth. Furthermore, the rising demand for the completion of construction projects in the stipulated timeframe is leading organizations to rent equipment due to its several benefits such as reduction in installation, maintenance, and technical charges.
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Increasing government spending in several countries including China, India, and Brazil for the development of roads & highways will increase the adoption of concrete equipment, contributing to the construction equipment rental market development. For instance, the Indian government has initiated a road development program for the North East Indian region. Phase A of the project includes the upgrade of around 4,099 km of roads with a budget of approximately USD 3.3 billion, which is to be completed by 2021. This will surge the demand for concrete equipment including crushers, concrete pumps, and transit mixers over the forecast timeline.
Some major findings of the construction equipment rental market report include:
Browse key industry insights spread across 300 pages with 297 market data tables and 32 figures & charts from the report, “Construction Equipment Rental Market Share & Forecast, 2020 - 2026” in detail along with the table of contents:
The increasing European government investments in smart city development projects will propel the regional construction equipment rental industry growth. The European government is focusing on developing about 300 smart cities by 2020, providing lucrative opportunities for the market. Furthermore, the steadily increasing labor cost coupled with the rising need for LEED-certified building construction will surge the adoption of electric & automated construction machinery in Europe over the forecast timeline. Several equipment manufacturing companies including Volvo, JCB, and Liebherr are introducing electric models of construction machinery to support the adoption of zero-emission equipment.
Some of the leading market players are United Rentals, Inc., Nesco Rentals, The Hertz Corporation, Unirent LLC, Loxam Group, Cramo PLC., Aktio Corporation, Mtandt Rentals Limited, Boels Rental, Caterpillar Inc., and Ahern Rentals, Inc.
Several construction equipment rental market players are focusing on strategic acquisitions to enhance their business operations. For instance, in October 2018, United Rentals announced the acquisition of BlueLine from Platinum Equity for approximately USD 2.1 billion in cash. This aided the company to enhance its rental capacity across North America. Furthermore, market leaders are focusing on optimizing their fleet size to cater to the varying demand for construction equipment.
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Partial chapters of report table of contents (TOC):
Chapter 3. Construction Equipment Rental Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.2.1. Construction equipment landscape
3.2.2. Used construction equipment landscape
3.3. Industry ecosystem analysis
3.3.1. Pros and cons – rent vs purchase of construction equipment
3.3.2. Cost calculator – rent vs purchase of construction equipment
3.3.3. Technology providers
3.3.4. Vendor matrix
3.4. Technology & innovation landscape
3.4.3. AI & machine learning
3.5. Regulatory landscape
3.5.1. ISO standards
220.127.116.11. ISO 4310
18.104.22.168. ISO 8686
22.214.171.124. ISO 10245-1:2008
126.96.36.199. ISO 12480-1
188.8.131.52. ISO 23815-1
184.108.40.206. ISO 12482
220.127.116.11. ISO 23814
18.104.22.168. ISO 19432:2012
3.5.2. North America
3.5.4. Asia Pacific
3.5.5. Latin America
3.6. Industry impact forces
3.6.1. Growth drivers
22.214.171.124. High initial costs of construction equipment
126.96.36.199. Implementation of advanced technologies in construction machinery
188.8.131.52. Increasing infrastructure investments across the globe
184.108.40.206. Rapidly developing Asia Pacific construction industry
220.127.116.11. Rising equipment rental demand in North America
18.104.22.168. Increasing rate of urbanization in the U.S.
22.214.171.124. Increasing infrastructure and industrial projects in Russia
126.96.36.199. Growing urbanization and safety concerns in India
188.8.131.52. Rapid infrastructure development in BRIC countries
184.108.40.206. Growing reconstruction and maintenance activities in Japan
3.6.2. Industry pitfalls & challenges
220.127.116.11. Cyclic instability of application industries
18.104.22.168. Lack of skilled and qualified operators
22.214.171.124. Optimizing fleet utilization
126.96.36.199. Lack of awareness
3.7. Growth potential analysis
3.8. Porter's analysis
3.9. Competitive landscape, 2019
3.9.1. Strategy dashboard
3.9.2. Investment landscape
3.10. PESTEL analysis
About Global Market Insights
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