Construction equipment rental market regional projection 2024 by leading industry players
Category: #headlines  By Rahul Varpe  Date: 2020-01-16
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Construction equipment rental market regional projection 2024 by leading industry players

Powered by the skyrocketing costs of construction material and labor every year, construction equipment rental market has emerged to be one of the most remunerative business spheres of recent times. In the face of this rapidly increasing constructional cost, the concept of leasing high-grade machineries instead of purchasing it, has proven to be more beneficial for companies. The global construction output is expected to grow 85% by 2030 amounting to $15.5 trillion and is expected to be led by China, India and U.S., with the nations together expected to contribute towards 57% of the global construction.

Construction Equipment Rental Market is projected to surpass USD 140 billion by 2024. The rise in the construction of commercial and residential infrastructures is anticipated to drive the construction equipment rental market over the forecast timeline. Government institutions across various regions are making heavy investments on new construction projects as well as reconstructing the existing structures.

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Rising disposable income coupled with the enhancement in living standards of individuals across the emerging economies is leading to growing investments in shopping malls, recreation centers, and amusement parks. These infrastructure projects generally have stringent timelines, compelling the construction companies to rent machinery instead of purchasing, considering it as a more profitable approach.

Partial Chapter of the Table of Content

Chapter 3.   Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 - 2024

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

3.5.  Regulatory landscape

3.5.1. ISO standards

3.5.1.1.    ISO 4310

3.5.1.2.    ISO 8686

3.5.1.3.    ISO 10245-1:2008

3.5.1.4.    ISO 12480-1

3.5.1.5.    ISO 23815-1

3.5.1.6.    ISO 12482

3.5.1.7.    ISO 23814

3.5.1.8.    ISO 19432:2012

3.5.2. North America

3.5.3. Europe

3.5.4. Asia Pacific

3.5.5. Latin America

3.5.6. MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    High initial costs of construction equipment

3.6.1.2.    Implementation of advanced technologies in construction equipment

3.6.1.3.    Increasing infrastructure investments globally

3.6.1.4.    Growing construction industry in China & India

3.6.1.5.    Rising equipment rental demand in the U.S.

3.6.1.6.    Increasing rate of urbanization in the U.S.

3.6.1.7.    Increasing infrastructure and industrial projects in Russia

3.6.1.8.    Growing urbanization and safety concerns in India

3.6.1.9.    Rapid infrastructure development in BRIC countries

3.6.1.10.     Growing reconstruction and maintenance activities in Japan

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Cyclic instability of application industries

3.6.2.2.    Lack of skilled and qualified operators

3.6.2.3.    Optimizing fleet utilization

3.6.2.4.    Lack of awareness

3.7.  Growth potential analysis

3.8.  Porter's analysis

3.9.  Competitive landscape, 2017

3.9.1. Strategy dashboard

3.9.2. Investment landscape

3.10.      PESTEL analysis

Chapter 4.   Construction Equipment Rental Market, By Product

4.1.  Global construction equipment rental market share by product, 2017 & 2024

4.2.  Earthmoving & road building equipment

4.2.1. Market estimates and forecast, 2013 – 2024

4.2.2. Market estimates and forecast, by region, 2013 - 2024

4.2.3. Backhoe

4.2.3.1.    Market estimates and forecast, 2013 – 2024

4.2.3.2.    Market estimates and forecast, by region, 2013 - 2024

4.2.4. Excavator

4.2.4.1.    Market estimates and forecast, 2013 – 2024

4.2.4.2.    Market estimates and forecast, by region, 2013 - 2024

4.2.5. Loader

4.2.5.1.    Market estimates and forecast, 2013 – 2024

4.2.5.2.    Market estimates and forecast, by region, 2013 - 2024

4.2.6. Compaction equipment

4.2.6.1.    Market estimates and forecast, 2013 – 2024

4.2.6.2.    Market estimates and forecast, by region, 2013 - 2024

4.2.7. Others

4.2.7.1.    Market estimates and forecast, 2013 – 2024

4.2.7.2.    Market estimates and forecast, by region, 2013 - 2024

4.3.  Material handling & cranes

4.3.1. Market estimates and forecast, 2013 – 2024

4.3.2. Market estimates and forecast, by region, 2013 - 2024

4.3.3. Storage & handling equipment

4.3.3.1.    Market estimates and forecast, 2013 – 2024

4.3.3.2.    Market estimates and forecast, by region, 2013 - 2024

4.3.4. Engineered systems

4.3.4.1.    Market estimates and forecast, 2013 – 2024

4.3.4.2.    Market estimates and forecast, by region, 2013 - 2024

4.3.5. Industrial trucks

4.3.5.1.    Market estimates and forecast, 2013 – 2024

4.3.5.2.    Market estimates and forecast, by region, 2013 - 2024

4.3.6. Bulk material handling equipment

4.3.6.1.    Market estimates and forecast, 2013 – 2024

4.3.6.2.    Market estimates and forecast, by region, 2013 - 2024

4.4.  Concrete equipment

4.4.1. Market estimates and forecast, 2013 – 2024

4.4.2. Market estimates and forecast, by region, 2013 - 2024

4.4.3. Concrete pump

4.4.3.1.    Market estimates and forecast, 2013 – 2024

4.4.3.2.    Market estimates and forecast, by region, 2013 - 2024

4.4.4. Crusher

4.4.4.1.    Market estimates and forecast, 2013 – 2024

4.4.4.2.    Market estimates and forecast, by region, 2013 - 2024

4.4.5. Transit mixer

4.4.5.1.    Market estimates and forecast, 2013 – 2024

4.4.5.2.    Market estimates and forecast, by region, 2013 - 2024

4.4.6. Asphalt paver

4.4.6.1.    Market estimates and forecast, 2013 – 2024

4.4.6.2.    Market estimates and forecast, by region, 2013 - 2024

4.4.7. Batching plant

4.4.7.1.    Market estimates and forecast, 2013 – 2024

4.4.7.2.    Market estimates and forecast, by region, 2013 – 2024

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Growth estimations concerning the construction industry indicate that India will overtake Japan to become the third largest construction industry by 2021 while the U.S. construction industry is anticipated to surpass China over the next 15 years. Forecasts about the China construction industry predict a marginal growth by 2030, however, the transition of the country to a service driven economy is expected to provide ample opportunity for growth in healthcare, retail, education and social infrastructure. The abolition of China’s one-child policy will also provide impetus to regional construction industry, making the nation a viable ground for the expansion of construction equipment rental industry.

Some of the leading names observing strong competition in the construction equipment rental market include Caterpillar, Inc, Ahern Rentals, BlueLine Rental, Loxam Group, Cramo, Shanghai Hongxin Equipment Engineering Co., Herc Holdings, NESCO Rentals and United Rentals. Owing to the presence of international as well as established regional players the construction equipment rental market outlook is expected to observe a transformational change in the ensuing years.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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