Construction Equipment Rental Market Overall Analysis, Development Trends, Driving Forces & OpportunitiesPosted by Stephen Lobo on January 3rd, 2023 Construction Equipment Rental Market Scope The construction equipment rental market refers to the market for the rental of heavy construction equipment, such as bulldozers, excavators, cranes, and backhoes. These types of equipment are typically used in the construction, mining, and oil and gas industries. The construction equipment rental market is a growing market, as more and more construction companies and contractors are opting to rent equipment instead of purchasing it outright. Renting equipment can be a cost-effective solution for companies that do not have the financial resources to make large upfront purchases, or for companies that only need the equipment on a temporary basis. There are a number of companies that specialize in the rental of construction equipment, both at the local and national level. The construction equipment rental market will reach USD 121.6 billion by 2024, at a CAGR of 4.3% from 2019 to 2024. The research report on Construction Equipment Rental Market provides analysis by Equipment (Earthmoving, Material Handling, Road Building & Concrete), Product (Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Compactors, Concrete Pumps), Region - Global Forecast to 2024. Construction Equipment Rental Market Drivers There are several factors that can drive the construction equipment rental market:
Construction Equipment Rental Market Restraint
Construction Equipment Rental Market Segmentation The construction equipment rental market can be segmented in several ways, including by equipment, product and region On the basis of equipment:
The earthmoving construction equipment segment is projected to lead the market during the forecast period Based on equipment, the construction equipment rental market is categorized into earthmoving, material handling, and road building & concrete. Among these, earthmoving construction equipment accounted for the largest share of the construction equipment rental market. On the basis product:
Excavators segment to lead the construction equipment rental market during the forecast period Based on product, the construction equipment rental market is categorized into excavators, backhoes, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, concrete mixers, and others (asphalt pavers, finishers, dump trucks, industrial trucks, etc.). On the basis of region:
North America is projected to be the largest market for construction equipment rental during the forecast period Based on region, the construction equipment rental market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these, North America accounted for the largest share of the market. View Full Report with TOC & List of Figure: https://www.marketsandmarkets.com/Market-Reports/construction-equipment-rental-market-225391699.html Construction Equipment Rental Market Key Players
Key Highlights of the Construction Equipment Rental Market Research Report:
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