[185 Pages Report] The Construction Equipment Rental Market size was estimated at USD 113.61 billion in 2023 and expected to reach USD 123.98 billion in 2024, at a CAGR 9.37% to reach USD 212.73 billion by 2030.
The construction equipment rental includes services that provide various machinery, equipment, and tools of all kinds and sizes (from earthmoving to power generation) for a limited period to end-users, mainly to construction contractors, and also to industrial and individual consumers. This market enables a cost-effective option for contractors to access equipment without the need for ownership, reducing the overall project cost. The rise in construction and infrastructure projects, particularly in developing economies, is driving the demand for construction equipment rental services. The high cost of purchasing equipment with the rising adoption of green construction practices to reduce carbon footprints is expanding the scope of the market. Continuous technological advancements and the introduction of new construction practices, which also necessitate the frequent updating of equipment, are also fueling the market growth. The high investment required to maintain an updated and well-serviced equipment fleet, as well as the logistics and costs associated with transporting heavy machinery, hampers the market growth. Increased investments in smart city projects and the integration of telematics and IoT in construction equipment for better fleet management are expected to create opportunities for market growth. Additionally, rising focus on service offerings including equipment management, training, and maintenance could further benefit rental companies by providing added value to customers.
Equipment: Growing usage of material handling equipment for temporary movement of heavy materials
The earthmoving equipment segment encompasses a broad range of machinery used for digging, moving, and grading soil and rock. This segment includes equipment such as excavators, backhoe loaders, bulldozers, skid-steer loaders, and motor graders. The preference for renting earthmoving equipment generally stems from the high cost of purchasing, the need for specialized machinery for short-term projects, and the reduction of maintenance responsibilities for the renters. Earthmoving equipment is critically important for foundational work in construction and is often the first on-site in any major project. Material handling equipment includes machinery designed to transport, control, protect, and store materials throughout the construction process. This category involves forklifts, cranes, telehandlers, and conveyor systems. Renting such equipment is often preferred when there is a need for temporary movement of heavy materials, to avoid the cost of ownership, storage, and maintenance, and when the task requires specialized equipment that would not be economically viable to purchase outright. Road building & concrete equipment are used in road construction and the handling of concrete materials. It includes asphalt pavers, road rollers, concrete mixers, and batching plants. Typically, these equipment types are rented to avoid the high capital expenditure associated with purchasing and to adapt quickly to changing project specifications and locations. It is vital for infrastructure projects that require specialized, robust equipment for short to medium-term use.
Product: Rising potential of compactors to ensure that the soil has the appropriate density levels for construction foundation
Backhoes are versatile pieces of equipment commonly used for a variety of tasks, including digging, backfilling, and trenching. They are preferred for projects where space is limited, and a mix of functionalities is required. Compactors are vital for ground preparation, ensuring that the soil has the appropriate density levels for the construction foundation. Different types serve various needs, such as plate compactors for small spaces and ride-on rollers for larger areas. Concrete mixers are essential for any construction site where concrete is needed. They provide a uniform mixing of cement, aggregates, and water to form concrete. The rental preference for mixers hinges on volume capacity and project duration. Concrete pumps are used to transport concrete to sites where conventional trucks cannot access it. These are preferred for high-rise buildings and other large-scale infrastructure projects. Cranes are critical for lifting heavy materials and are categorized by their lifting capacities and ranges, such as mobile, tower, and crawler cranes. The selection is project-specific, focusing on height and weight requirements. Crawler dozers, known for their powerful earthmoving capabilities, are selected based on blade type and operating weight for tasks including clearing and grading. Excavators are a staple in the construction industry used for demolition, excavation, and mining. Preferences are influenced by factors including digging depth and arm force. Loaders, including wheel loaders and skid steer loaders, are frequently rented for material handling and loading tasks. The selection typically considers lift capacity and the environment of the job site. Transit mixers are truck-mounted mixers used for transporting and maintaining the ready-mix concrete’s quality from the plant to the construction site. Clients prefer transit mixers that offer efficiency and speed in delivery.
Regional Insights
In the Americas, the construction equipment rental market is characterized by the presence of a large pool of contractors who prefer to rent rather than purchase equipment due to the high cost of acquisition and maintenance. South America demonstrates a significant demand for rental construction equipment, given the resurgence in construction activities post-economic downturns. EU countries exhibit varied customer purchasing behavior in the construction equipment rental market, with an increasing inclination towards specialized and high-tech machinery due to stringent EU regulations on carbon emissions and noise levels. Investment in "green" buildings and infrastructure, along with the expansion of the urban landscape, continues to drive the demand for rental construction equipment. The construction equipment rental market in the Middle East and Africa (MEA) is driven primarily by the construction boom in Gulf Cooperation Council (GCC) countries and the rising focus on infrastructure development in African nations. Asia Pacific represents one of the most rapidly expanding markets for construction equipment rental, given the significant infrastructure and urbanization projects in countries such as China, Japan, and India. Asia-Pacific with its large-scale investments in construction and infrastructure, driving a high demand for rental equipment. Japan, known for its technological prowess, shows a preference for advanced machinery. India, with its vast population and developing economy, presents considerable growth potential as urbanization and smart city projects drive the demand for construction equipment rental.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Construction Equipment Rental Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Construction Equipment Rental Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Construction Equipment Rental Market, highlighting leading vendors and their innovative profiles. These include AB Volvo, ABC Infra Equipment Pvt Ltd., Ahern Rentals, Inc., Aktio Corporation, Ashtead Group PLC, Boels Rental Ltd., Caterpillar Inc., Custom Truck One Source, Inc., Doggett Equipment Services Group, Gemini Equipment And Rentals Pvt. Ltd., H&E Equipment Services, Inc., Herc Holdings Inc., Industrial Supplies Development Co. Ltd., Kanamoto Co., Ltd., Kiloutou, SAS, Loxam SAS, Maxim Crane Works, L.P., Nishio Rent All Co., Ltd., Sanghvi Movers Limited, Sarens NV, Speedy Hire PLC, Taiyo Kenki Rental Co., Ltd., TVH Equipment NV, United Rentals, Inc., and Zahid Group.
Market Segmentation & Coverage
This research report categorizes the Construction Equipment Rental Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Equipment
- Earthmoving
- Material Handling
- Road Building & Concrete
- Product
- Backhoes
- Compactors
- Concrete Mixers
- Concrete Pumps
- Cranes
- Crawler Dozers
- Excavators
- Loaders
- Transit Mixers
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Construction Equipment Rental Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Construction Equipment Rental Market?
- What are the technology trends and regulatory frameworks in the Construction Equipment Rental Market?
- What is the market share of the leading vendors in the Construction Equipment Rental Market?
- Which modes and strategic moves are suitable for entering the Construction Equipment Rental Market?
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