SAN ANTONIO, Texas, Oct. 12, 2021 (GLOBE NEWSWIRE) -- A new analysis by Verify Markets shows the Australia Pacific Trench Shoring Rental Market was valued at over $290 million in 2020 and is expected to grow at a CAGR of over 4.0 percent during the forecast period. 

The Australia Pacific trench shoring rental market is primarily driven by infrastructure projects, construction, and mining industries. The market is highly consolidated, competitive, and is dominated by a handful of large players with large market shares. The top three market participants made up the majority of market share by revenue for 2020. In 2020, the water, wastewater & storm infrastructure segment was the largest end-user market share vertical by revenue. Trench shields were the most popular type of equipment rented during 2020.

The COVID-19 pandemic impacted the market significantly in 2020. The market is largely dependent on infrastructure projects and the construction industry, however, cost-cutting caused by COVID-19 has led to several project delays. Additionally, severe lockdown restrictions led to labor shortages. “New restrictions imposed in July of 2021 compounded the difficulties already faced by the construction industry in Greater Sydney. This includes shortages of staff and unavailability of labor, generally, as a result of self-isolation requirements and stay-at-home orders, as well as delays or shortages of equipment and materials due to disruption to the supply chain,” notes Shilpa Tiku, Chief Research Officer and partner at Verify Markets.

Some of the players in this market include Coates Group Holdings Pty Limited, Mabey Holdings Limited, Shore Hire Pty Limited, Ground Support System Australia, A Plant Hire, Kennards Hire, Thyssenkrupp, Cassaform, LITE Industries Pty Ltd, Synergy Resource Management, Conquip Engineering Group, RMD Kwikform, EZI Hire Solutions Sydney, ISEEKPLANT Pty Ltd, Hirepool Ltd. (TSNZ), Trenchmate, Trenchire Ltd, TransQuip Limited, Real Steel Ltd., and others.

The report aims to provide a detailed analysis along with competitive intelligence on the Australia Pacific Trench Shoring Rental Market for the year 2020. The market numbers included in this report represent revenues generated from the renting of trench shoring equipment. The base year for the study is 2020 and the forecast period is from 2020 until 2027. This study captures market size, growth rate, revenue forecasts (2020-2027), growth drivers & restraints, quotes by key industry participants, market share be revenue, market share by end-user, market share by type of equipment, and market trends.

A copy of the Australia Pacific Trench Shoring Rental Market report can be obtained at www.verifymarkets.com. Verify Markets’ research methodology consists of extensive primary interviews with key participants in the industry along with analysis of secondary resources to validate information. For more information on this report and other research, including custom reports and consulting, contact info@verifymarkets.com or call +1 210.595.9687.