1. What is the projected Compound Annual Growth Rate (CAGR) of the Construction Equipment Rental Market?
The projected CAGR is approximately 20.3%.
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Construction Equipment Rental MarketConstruction Equipment Rental Market by Equipment Type (Earthmoving Equipment, Material Handling Equipment, Concrete & Road Building Equipment, Others), by Application (Residential, Commercial, Industrial), by North America (U.S., Canada), by Europe (U.K., Germany, France, Italy, Rest of Europe), by Asia Pacific (China, Japan, India, Southeast Asia, Rest of Asia Pacific), by Middle East & Africa (GCC Countries, South Africa, Rest of Middle East and Africa), by Latin America (Brazil, Mexico, Rest of Latin America) Forecast 2026-2034
The Construction Equipment Rental Market size was valued at USD 111.6 USD Billion in 2023 and is projected to reach USD 406.93 USD Billion by 2032, exhibiting a CAGR of 20.3 % during the forecast period. Construction equipment rental refers to the procurement of equipment and amenities for a limited period of usage in construction activities, making the equipment more mobile and cheaper than acquisition. It covers an extensive range of machinery for construction processes, such as excavators, bulldozers, cranes, loaders and so on, suited to various construction jobs. This means that the rentals come equipped with the latest technology for superior performance as well as safety in the working area. Innovation is not limited to the housing industry but also covers commercial construction as well as general construction applications. Rentals also allow construction companies to access equipment for projects where they would otherwise not justify the cost since equipment can be rented based on requirements rather than ownership. Third, using updated models means that maintenance costs and any possible downtimes due to faulty machinery are kept at a minimum. The reasons why construction equipment rental is important are numerous. It allows businesses to optimally control capital since the equipment does not demand significant initial spending.
Equipment Type:
Application:
This groundbreaking report delves into the intricacies of the construction equipment rental market, providing a comprehensive analysis of its dynamics and growth trajectory. It encompasses key market insights, such as:
This in-depth report serves as an invaluable resource for industry stakeholders seeking to gain a thorough understanding of this complex and evolving market. It empowers investors with data-driven insights for strategic decision-making, guides equipment manufacturers in developing targeted strategies, informs policymakers in shaping industry regulations, and supports rental companies in optimizing their operations.
The construction equipment rental market is expected to witness significant growth in developing regions such as Asia-Pacific and the Middle East due to increased infrastructure investment and construction activities.
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 20.3% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 20.3%.
Key companies in the market include United Rentals, Inc. (U.S.), Loxam (France), Sunbelt (U.S.), Taiyokenki Rental Co., Ltd. (Japan), AKTIO Corporation (Japan), Herc Rentals Inc. (U.S.), Ahern Rentals. (U.S.), H&E Equipment Services, Inc. (U.S.), Nikken Corporation (Japan), Nishio Rent All Co. Ltd. (Japan).
The market segments include Equipment Type, Application.
The market size is estimated to be USD 111.6 USD Billion as of 2022.
Rising Demand from the Automotive and Construction Sectors to Aid Market Growth.
Technological Advancement in Equipment to Propel Market Growth.
Economic Downturn in Construction Equipment Rental Industry to Obstruct the Market Growth.
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Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.
The market size is provided in terms of value, measured in USD Billion.
Yes, the market keyword associated with the report is "Construction Equipment Rental Market," which aids in identifying and referencing the specific market segment covered.
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
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