Construction Equipment Rental Market Strategy, Industry Statistics, Development By 2020-2027
The Construction Equipment Rental market growth can be accredited to the emergence and availability of several advanced rental options that can help firms fill spaces during outages and provide flexible options to support logistics and finance effectively.
Renting construction equipment enables firms to reduce their costs by availing equipment for a longer time and for different projects. Another benefit of this is that upfront payment by organizations renting the equipment is unnecessary, which allows them to save on depreciation and labor, and maintenance costs for a considerable period of time. These expenses are covered by rental companies, which helps companies save money on heavy equipment and efficiently optimize their workload.
Market Size – USD 97.70 Billion in 2019, Market Growth – CAGR of 4.1%, Market Trend – The advent of numerous rental options
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Prominent players in the Construction Equipment industry are The Hertz Corporation, Loxam Group, Inc., Unirent LLC, Mtandt Rentals Limited, Ahern Rentals, Inc., United Rentals, Boels Rentals, Nesco Rentals, Caterpillar Inc., and Cramo PLC.
The Construction Equipment Rental Market Study also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Construction Equipment Rental market.
Product Type Outlook (Volume, Million Units; Revenue, USD Billion; 2017–2027)
- Excavators
- Crawler Dozers
- Cranes
- Concrete Pumps
- Backhoes
The Global Construction Equipment Rental Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Construction Equipment Rental market
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