Construction Equipment Rental Market Scope
Construction equipment rental is referred to as the renting of construction equipment through offline or online mediums for a particular time span and at the particular renting amount. An increasing number of construction activities coupled with the rising infrastructure investments will drive the construction equipment rental market growth over the forecast timeline. Various government institutions are stressing on refurbishing the existing infrastructure and undertaking new construction projects for the overall economic development of the region. Changing consumption patterns followed by the rising labor costs is further restraining the market.
According to AMA, the Global Construction Equipment Rental market is expected to see growth rate of 4.5% and may see market size of USD121.6 Billion by 2026.
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Construction Equipment Rental market throughout the predicted period.
United Rentals Inc. (United States), Ashtead Group Plc (United Kingdom), Loxam (France), Herc Holdings Inc. (United States), Aktio Corporation (Japan), Nishio Rent All Co. Ltd. (Japan), Boels Rentals (Netherlands), Kanamoto Co. Ltd. (Japan), Sunstate Equipment (United States) and Nishio Rent All Co. Ltd (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Nikken Corporation (Japan), Ahern Rentals (United States), Sunbelt Rentals (United States) and Cramo (Finland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Construction Equipment Rental market by Type (Online Rental and Offline Rental), by Application (Enterprise, Municipal and Others) and Region with country level break-up.
On the basis of geography, the market of Construction Equipment Rental has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Sunstate Equipment is partnering with Built Robotics to supply autonomous construction equipment in its rental offering. The partnership currently focuses on identifying the initial set of equipment and rental locations. Sunstate will begin offering built-upgraded autonomous equipment to select customers in late 2019 or early 2020.
Equipment rental company, Boels Rentals (Netherlands) is adding the Barreto 30SGB stump grinder to its rental product range, based on positive feedback relating to Vanguard’s V-Twin engine.
Market Trend
- Low Rental Penetration in Emerging Nations
- Shift in Trends Toward Rental
Market Drivers
- Benefits of Rental
- Increasing Construction Equipment Demand
- Increasing infrastructure investments globally
Opportunities
- Provision in the Tax Code and Adoption of Technology
- Increasing Investment in Infrastructure
Restraints
- Susceptibility of the Construction Industry to Economic Recession
Challenges
- Labor Shortage May Lead to Automation
- Lack of Incentives and Favorable Tax Policy
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries