Construction Equipment Rental Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Construction Equipment Rental Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, March 30, 2022 /EINPresswire.com/ -- Replacing conventional equipment with telematics integrated machinery is one of the rising construction equipment rental industry trends. Telematics is integrated into the construction equipment for GPS fleet tracking, maximizing fleet utilization, safeguarding equipment from theft, improved billing, equipment utilization and others. For instance, in 2020, Appareo, a US based manufacturer of electronic and software solutions, launched a cellular asset tracking device for off-highway equipment called AT-130 (IP69K). The device is embedded with GPS and cellular capabilities, has a high battery life, and can withstand high pressure. The high-performance positioning and motion-sensing capabilities ensure that motion-based reporting is done based on true machinery repositioning, which helps to extend the battery life of the equipment and reduce false alarms.

North America was the largest region in the construction equipment rental market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global construction equipment rentals market during the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Read more on the Global Construction Equipment Rental Market Report:
https://www.thebusinessresearchcompany.com/report/construction-equipment-rental-global-market-report

The global construction equipment rental market size is expected to grow from $90.60 billion in 2021 to $94.81 billion in 2022 at a compound annual growth rate (CAGR) of 4.64%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global construction equipment rentals market size is expected to reach $114.24 billion in 2026 at a CAGR of 4.77%.

The growing construction industry is expected to propel the growth of the global construction equipment rental market going forward. The construction industry is rising because of ongoing urbanization, impending infrastructural projects, and a growing population base. The construction sector uses a variety of construction equipment such as tower cranes, bulk material handling, transit mixer, batching plant, concrete pumps and others. Renting this equipment help contractors to reduce costs of purchase and maintenance. According to the global construction review report published in 2021, construction will be a driving force in global economic growth in the decade to 2030, with output estimated to be 35% greater than in the previous ten years to 2020. According to the construction equipment rental industry growth analysis, the growing construction industry will drive the growth of the market.

Major players covered in the global construction equipment rental industry are H&E Equipment Services, Inc, Maxim Crane Works, L.P., Boels Rentals, United Rentals Inc., Ashtead Group Plc, Loxam, Herc Holdings Inc., Aktio Corporation, Kanamoto Co. Ltd., Taiyokenki Rental Co., Ltd., Cramo, Ramirent Plc, Kiloutou, Speedy Hire Plc, Nishio Rent All Co. Ltd., The Hertz Corporation, Ahern Rentals and Nikken Corporation.

TBRC’s global construction equipment rental market report is segmented by equipment into earthmoving, material handling, road building and concrete, by product into backhoes, excavators, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, concrete mixers, by application into residential, commercial, industrial.

Construction Equipment Rental Global Market Report 2022 – By Equipment (Earthmoving, Material Handling, Road Building And Concrete), By Product (Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Concrete Pumps, Compactors, Transit Mixers, Concrete Mixers), By Application (Residential, Commercial, Industrial) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a construction equipment rental market overview, construction equipment rental market forecast, construction equipment rental market size and construction equipment rental market growth for the whole market, construction equipment rental market segments, construction equipment rental market geographies, construction equipment rental market trends, construction equipment rental market drivers, construction equipment rental market restraints, leading competitors’ revenues, profiles, and market shares.

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