The global new, pre-owned, and rental construction equipment market was valued at $445,292.4 million in 2020, and is projected to reach $871,401.5 million by 2032, registering a CAGR of 5.7% from 2023 to 2032. New, pre-owned, and rental construction equipment offers renting or leasing heavy machinery, tools, and equipment to individuals, contractors, or companies for a specific period. In addition, it offers flexibility and affordability for building projects by enabling access to and use of a variety of equipment without the requirement for outright purchase.
Owing to the high cost of construction equipment, consumers who do not require the equipment continuously or temporarily need to choose to rent it rather than buy it. In addition, not all consumers have the ability to afford to spend on such expensive equipment. Furthermore, many clients may not have sufficient funds to obtain a loan with a higher interest rate to purchase equipment. Moreover, due to financial restrictions, not all machines can be bought by clients. However, renting one, when necessary, might cut costs for the equipment and allow funds to be redirected to other projects, which spurs the expansion of the global market.
However, in developed countries in North America and Europe, there is a saturation of new construction activity due to the already constructed infrastructure, the recent industrial collapse, and the high cost of development. As a result, substantial investments in brand-new building projects have declined, which is anticipated to eventually constrain the expansion of the market for renting construction equipment in developed countries.
On the contrary, large cranes are affordable for rent instead of buying, simple to disassemble, and convenient to move to new construction sites. In addition, rental businesses can now easily follow the locations and operations of equipment, thanks to modern technologies such as IoT embedded in construction equipment. The Internet of Things (IoT) assists in addressing a lack of qualified labor, increases work accuracy, ensures on-time & budget delivery, and addresses equipment safety concerns. As a result, during the projection period, the introduction of new internet-connected equipment is anticipated to spur market growth for the rental of construction equipment.
The new, pre-owned, and rental construction equipment market is segmented into sales type, application category, and region. By sales type, the market is classified into new, preowned, and rental. By application category, the market is divided into heavy, and compact.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
In 2022, Asia-Pacific was the key shareholder, however, LAMEA is anticipated to secure a leading position during the forecast period.
COMPETITION ANALYSIS
Key companies profiled in the new, pre-owned, and rental construction equipment market report include AB Volvo, Boels Rentals, H&E Equipment Services Inc., Haulotte Group, Herc Rentals Inc., Hitachi Ltd., Loxam (Ramirent), Maxim Crane Works, L.P., Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc.

KEY BENEFITS FOR STAKEHOLDERS
-This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the new, pre-owned, and rental construction equipment market analysis from 2020 to 2032 to identify the prevailing new, pre-owned, and rental construction equipment market opportunities.
-The market research is offered along with information related to key drivers, restraints, and opportunities.
-Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
-In-depth analysis of the new, pre-owned, and rental construction equipment market segmentation assists to determine the prevailing market opportunities.
-Major countries in each region are mapped according to their revenue contribution to the global market.
-Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
-The report includes the analysis of the regional as well as global new, pre-owned, and rental construction equipment market trends, key players, market segments, application areas, and market growth strategies.

Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Investment Opportunities
- Product Life Cycles
- Market share analysis of players by products/segments
- Additional company profiles with specific to client’s interest
- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)

KEY MARKET SEGMENTS
By Sales Type
- New
- Pre-owned
- Seller Type
- Dealers
- Rental Companies
- Auction and Listing Sites
- Direct Sell
- Rental

By Application
- Heavy
- Compact

By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- New Zealand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East
- Saudi Arabia
- UAE
- Rest Of Middle East
- Africa
- South Africa
- Nigeria
- Rest Of Africa
- Key Market Players
- Maxim Crane Works, L.P.
- Hitachi Ltd.
- AB Volvo
- Herc Holdings Inc.
- Boels Rental
- Loxam SAS (Ramirent)
- Sumitomo Corporation (Sunstate Equipment Co., LLC)
- United Rentals, Inc.
- Haulotte Group S.A.
- H&E Equipment Services Inc.