Construction Equipment Rental Market Competitive Analysis With Growth Forecast Till 2027

The Global Construction Equipment Rental Market is projected to reach a value of over USD 135.9billion by 2027 at a CAGR of around 4.2%.

Construction equipment rental is a service industry providing equipment, machinery, and tools of all kinds and size for a limited period of time to the final user. They are also known as plant hire in some of the countries. Renting construction equipment provides benefits such as it avoids the initial purchase cost, less maintenance & repair costs, shielding from market fluctuation, no depreciation cost, project-specific rent, and solves equipment storage issue.

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Construction Equipment Rental Market: Drivers & Challenge

Market Driver:

  • Growing Trend Towards Rental Equipment

The benefits of construction equipment rental have been amplified owing to today’s economy and by considering the cyclical nature of the construction industry. Contractors, construction companies and various other industries are exploring the rental options which haveattributed tothe various benefits of renting equipment. This has lead to a significant shift from purchasing new equipment to the rental model among construction companies and the contractors. Moreover, many business leaders and economist foresee recession to be on the horizon which has further fuel the demand for rental equipment. For instance, the ongoing COVID-19 pandemic has widely affected economies across the globe. Additionally, several cost associated with the purchase of new equipment such as the cost of equipment ownership, the initial asset cost, and the tenure to pay off equipment financing, plus maintenance and repair costshaveshifted consumer focus on rental equipment. Thus, growing trends towards adoption of constructional equipment rental haveexpected to propel the growth of the market.

Market Challenge:

  • Labor Shortage May Lead to Automation

Construction equipment industry employs various works such as qualified mechanics, service technicians, and delivery drivers for different operations. These employs need to be skilled and professional in handling various types of machinery. However, such employees are difficult to be found in the industry. Shortage of workers is driving the construction equipment industry towards automation, for example, driverless vehicles. Thus, workers shortage faced by the industry due to lack of skilled labor has lead to automation which has posed a major challenge to construction equipment rental market.

Construction Equipment Rental Market: Key Segments

  • Segmentation based onequipment: Material Handling Machinery,Earth Moving MachineryandConcrete & Road Construction Machinery.
  • Segmentation based onproduct: Excavators, Loaders, Cranes, Backhoes, Crawler Dozers,Concrete Pumps, Transit Mixer, Concrete Mixer, Compactors, andOthers.
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

Construction Equipment Rental Market: Report Scope

The report on the construction equipment rentalmarket covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Construction Equipment Rental Market include:

  • United Rentals, Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Ashtead Group plc
  • H&E Equipment Services, Inc. 
  • Ramirent
  • Maxim Crane Works, L.P.
  • CRAMO
  • Kikoutou App
  • Sarensn.v./s.a.
  • Boels Rentals
  • Taiyokenki Rental Co., Ltd.
  • Speedy Hire Plc
  • Loxam
  • Herc Rentals Inc
  • AKTIO Corporation
  • NISHIO RENT ALL Co.,Ltd.
  • Kanamoto Co., Ltd.
  • Other Key Companies

Construction Equipment Rental Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Construction Equipment Rental Market, by Equipment

  • Material Handling Machinery
  • Earth Moving Machinery
  • Concrete & Road Construction Machinery

Construction Equipment Rental Market, by Product     

  • Excavators
  • Loaders
  • Cranes
  • Backhoes
  • Crawler Dozers
  • Concrete Pumps
  • Transit Mixer
  • Concrete Mixer
  • Compactors
  • Others

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Construction Equipment Rental Market by Region

·         Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)

·         North America (US, Canada, Mexico)

·         Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)

·         Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

·         South America (Brazil, Argentina, Rest of South America)

Table of Content

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Growing Trend Towards Rental Equipment
      2. Increasing Investment in Infrastructure Activities
    3. Restraint
      1. Susceptibility of the Construction Industry to Economic Recession
    4. Opportunities
      1. Low Rental Penetration in Emerging Nations
    5. Challenges
      1. Labor Shortage May Lead to Automation
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL CONSTRUCTION EQUIPMENT RENTAL MARKET BY EQUIPMENT, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Material Handling Machinery
    3. Earth Moving Machinery
    4. Concrete & Road Construction Machinery
  7. GLOBAL CONSTRUCTION EQUIPMENT RENTAL MARKET BY PRODUCT, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Excavators
    3. Loaders
    4. Cranes
    5. Backhoes
    6. Crawler Dozers
    7. Concrete Pumps
    8. Transit Mixer
    9. Concrete Mixer
    10. Compactors
    11. Others
  8. GLOBAL CONSTRUCTION EQUIPMENT RENTAL MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  9. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  10. COMPANY PROFILES
    1. United Rentals, Inc.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
    2. Ashtead Group plc
    3. H&E Equipment Services, Inc.
    4. Ramirent
    5. Maxim Crane Works, L.P.
    6. CRAMO
    7. Kikoutou App
    8. Sarens n.v./s.a.
    9. Boels Rentals
    10. Taiyokenki Rental Co., Ltd.
    11. Speedy Hire Plc
    12. Loxam
    13. Herc Rentals Inc
    14. AKTIO Corporation
    15. NISHIO RENT ALL Co.,Ltd.
    16. Kanamoto Co., Ltd.
    17. Other Key Companies
  11. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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