Dublin, Sept. 05, 2019 (GLOBE NEWSWIRE) -- The "Construction Equipment Rental Market by Equipment (Earthmoving, Material Handling, Road Building & Concrete), Product (Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Compactors, Concrete Pumps), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Construction Equipment Rental Market is Estimated to be USD 98.6 Billion in 2019 and is Projected to Reach USD 121.6 Billion by 2024, at a CAGR of 4.3% from 2019 to 2024.
The globally leading construction equipment renting companies profiled in this report are United Rentals Inc. (US) (Belgium), United Rentals Inc. (US), Ashtead Group Plc (UK), Loxam (Paris), Herc Holdings Inc. (US), Aktio Corporation (Japan), Nishio Rent All Co. Ltd. (Japan), Kanamoto Co. Ltd. (Japan), Nishio Rent All Co. Ltd (Japan), Nikken Corporation (Japan), and Ahern Rentals (US), among others.
Growing infrastructure activities in emerging nations and developed the construction equipment rental industry in North America and Europe is expected to drive the growth of construction equipment rental market during the forecast period. Preference towards rental for construction rather than purchase is expected to fuel the growth of construction equipment rental market during the forecast period.
The earthmoving segment is projected to drive the market for construction equipment rental market during the forecast period
Based on equipment, the construction equipment rental market is categorized into earthmoving, material handling, and road building & concrete. Among these, the earthmoving segment is projected to lead the construction equipment rental market during the forecast period. This is due to the wide acceptability, mobility, and ease of operation, coupled with the high cost of excavators, making the rental a more viable option.
Increasing infrastructure construction activities, such as roads, highways, metros, and airports are expected to drive the growth of the excavator's segment of the construction equipment rental market
Based on product, the construction equipment rental market is segregated into excavators, backhoes, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, concrete mixers, and others. Among these, the excavator's segment is projected to lead the market due to increase in infrastructure construction activities, such as roads, highways, metros, airports, bridges, along with refurbishment and redevelopment activities associated with residential construction. The crane's segment is projected to grow at the highest CAGR during the forecast period.
North America is estimated to account for the largest share of the market in 2019 and is also projected to lead during the forecast period
The North America region is projected to be the largest, whereas the Asia Pacific region is projected to grow at the highest CAGR in the construction equipment rental market during the forecast period. Increasing investments in construction and rising population in the Asia Pacific region are expected to lead to the increasing demand for construction equipment on a rental basis, and the trend is expected to continue during the forecast period. Europe accounted for the second-largest market share in 2018, however, the Asia Pacific is expected to outrank Europe to become the second-largest construction equipment rental market by 2024.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Construction Equipment Rental Market
4.2 Construction Equipment Rental Market, By Equipment
4.3 Construction Equipment Rental Market, By Product
4.4 Construction Equipment Rental Market, By Region
4.5 Asia Pacific to Lead the Growth of the Construction Equipment Rental Market During the Forecast Period
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Benefits of Rental
5.1.1.2 Increasing Construction Equipment Demand
5.1.1.3 Shift in Trends Toward Rental
5.1.2 Restraints
5.1.2.1 Susceptibility of the Construction Industry to Economic Recession
5.1.3 Opportunities
5.1.3.1 Low Rental Penetration in Emerging Nations
5.1.3.2 Provision in the Tax Code and Adoption of Technology Provide Ample Opportunities for Contractors to Optimize their Rental Fleet and Generate More Revenue
5.1.3.3 Increasing Investment in Infrastructure
5.1.4 Challenges
5.1.4.1 Labor Shortage May Lead to Automation
5.1.4.2 Lack of Incentives and Favorable Tax Policy
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Threat of New Entrants
5.2.3 Threat of Substitutes
5.2.4 Bargaining Power of Buyers
5.2.5 Intensity of Competitive Rivalry
6 Construction Equipment Rental Market, By Equipment
6.1 Introduction
6.2 Earthmoving
6.2.1 High Purchasing Cost of Earthmoving Equipment Makes Rental A Preferred Choice
6.3 Material Handling
6.3.1 Increasing Demand for Cranes in the Building & Construction Industry to Drive the Growth of the Material Handling Segment
6.4 Road Building & Concrete
6.4.1 Capital-Intensive Infrastructure Projects in Asia Pacific, Latin America, and the Middle East are Expected to Create Marginal Demand for Road Building & Concrete Equipment Rental
7 Construction Equipment Rental Market, By Product
7.1 Introduction
7.2 Excavators
7.2.1 Wide Acceptance for Renting of Excavators Among Contractors Due to the High Price of Equipment Purchase
7.3 Loaders
7.3.1 Ongoing Electrification By OEM to Target Rental Customers Expected to Impact the Market for Loaders
7.4 Backhoes
7.4.1 Although Popular in Asia and the Middle East, Backhoes Face Stiff Competition From Crawler Excavators and Loaders in North America and Europe
7.5 Cranes
7.5.1 Increasing Demand for Fixed Construction Products in the Building & Construction Industry Expected to Drive the Market for Cranes Rental
7.6 Crawler Dozers
7.6.1 Road Building and Highway Construction Activities in Asia Pacific to Drive the Demand for Crawler Dozers
7.7 Concrete Pumps
7.7.1 Rapid Expansion of Housing and Infrastructure Sectors Expected to Drive the Market for Concrete Pumps Rental
7.8 Compactors
7.8.1 Road Building and Infrastructure Activities in Emerging Nations Expected to Drive the Demand for Compactors
7.9 Transit Mixers
7.9.1 Less Rental Penetration to Affect the Future Rental Revenue of Transit Mixers
7.10 Concrete Mixers
7.10.1 Contractors Prefer Purchase of Concrete Mixers Over Rental Because of their Continuous Use
7.11 Others
7.11.1 Minimum Rental Penetration Expected to Impact the Rental Revenue Pf Other Products in the Near Future
8 Regional Analysis
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 Increasing Rental Penetration is Expected to Create Market Opportunities in the Near Future
8.2.2 Canada
8.2.2.1 Increase in Investments in Infrastructure Development to Drive the Growth of the Market in Canada
8.3 Asia Pacific
8.3.1 China
8.3.1.1 China is Projected to Lead the Global Construction Equipment Rental Market in the Asia Pacific Region During the Forecast Period
8.3.2 Japan
8.3.2.1 Mature Market With High Rental Penetration
8.3.3 India
8.3.3.1 Increasing Investments for the Construction of Infrastructure is Expected to Drive the Market In
8.3.4 South Korea
8.3.4.1 Rental Revenues From Excavators to Drive Demand
8.3.5 Rest of Asia Pacific
8.3.5.1 Increasing Investments & Growth in Industries is Expected to Drive the Growth of the Market in the Rest of Asia Pacific Countries
8.4 Middle East & Africa
8.4.1 UAE
8.4.1.1 Investments From Government and Recovery of the Construction Industry are Expected to Drive Demand in the Construction Equipment Rental Market in the UAE
8.4.2 Qatar
8.4.2.1 International Events to Drive Demand for Construction Equipment Rental Market in Qatar
8.4.3 Saudi Arabia
8.4.3.1 Growth in the Oil & Gas Industry is Expected to Drive Demand for Construction Equipment Rental in Saudi Arabia
8.4.4 Rest of Middle East & Africa
8.4.4.1 Rest of Middle East Countries Offer Attractive Opportunities for Construction Equipment Rental While Growth is Expected to Be Subdued in the Rest of Africa Region
8.5 Europe
8.5.1 Germany
8.5.1.1 Increasing Investments in Infrastructure are Expected to Drive Market Growth in Germany
8.5.2 France
8.5.2.1 Fastest-Growing Market for Construction Equipment Rental
8.5.3 UK
8.5.3.1 The Construction Industry is Expected to Witness Sluggish Growth and Thus Impact the Market
8.5.4 Italy
8.5.4.1 Recovery of the Construction Industry is Expected to Drive the Growth of the Market in Italy
8.5.5 Spain
8.5.5.1 Recovery in Residential Construction is Expected to Drive the Growth of the Market in Spain
8.5.6 Sweden
8.5.6.1 Government Initiatives and Growth in Non-Residential Sector is Expected to Drive the Growth of the Market in Sweden
8.5.7 Rest of Europe Construction Equipment Rental Market, By Product
8.5.7.1 Booming Construction Industry Especially in Poland in Rest of Europe Countries is Projected to Boost the Growth of the Market
8.6 Latin America
8.6.1 Brazil
8.6.1.1 Government Focus on Infrastructure Spending to Drive Market During the Forecast Period
8.6.2 Mexico
8.6.2.1 Trade Agreements to Attract Foreign Investments in Construction and Infrastructure to Drive the Market
8.6.3 Rest of Latin America
8.6.3.1 the Revival of the Construction Sector in Countries, Such as Peru, Colombia, and Argentina to Drive the Growth of the Market in the Region
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Leadership Mapping
9.2.1 Visionaries
9.2.2 Innovators
9.2.3 Dynamic Differentiators
9.2.4 Emerging Companies
9.3 Ranking of Key Market Players in the Construction Equipment Rental Market
10 Company Profiles
10.1 United Rentals, Inc.
10.2 Herc Holdings Inc.
10.3 Ashtead Group PLC
10.4 Aktio Corporation
10.5 Loxam SAS
10.6 Kanamoto Co. Ltd.
10.7 Nishio Rent All Co. Ltd.
10.8 H&E Equipment Services Inc.
10.9 Nikken Corporation
10.10 Cramo Group
10.11 Ramirent PLC
10.12 Maxim Crane Works, L.P.
10.13 Kiloutou
10.14 Sarens N.V.
10.15 Taiyokenki Rental Co. Ltd.
10.16 Ahern Rentals Inc.
10.17 Boels Rental
10.18 Speedy Hire PLC
10.19 Other Key Players
10.19.1 Coates Hire
10.19.2 Sunstate Equipment Company
10.19.3 Zeppelin Rental
10.19.4 Liebherr Mietpartner
10.19.5 Hitachi Construction Machinery Japan Co. Ltd.
10.19.5.1 Recent Developments
10.19.6 HSS Hire
10.19.7 Ameco Inc.
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