Emergen Research Logo

Increasing government spending on industrial and commercial construction activities and projects is a key factor driving construction equipment rental market

VANCOUVER, BC, CANADA, April 5, 2023 /EINPresswire.com/ -- Emergen Research’s latest document, titled ‘Global Construction Equipment Rental Market - Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Construction Equipment Rental market. The global construction equipment rental market size reached USD 104.46 Billion in 2021, and is expected to register a revenue CAGR of 5.4% during the forecast period, according to latest analysis by Emergen Research. High maintenance cost of construction equipment is a key factor driving revenue growth of the global construction equipment rental market.

Rental construction equipment is increasingly being opted for by end user construction companies and infrastructure development service providers, especially in a number of developing economies, as the option aids in the expansion of construction activities, enables companies to secure construction projects and contracts – government and privately funded – and reduces cost of projects to a significant extent. In addition, use of upgraded and technologically advanced equipment can help lower need for manual labor as well as related expenses, and facilitate tracking of work process at various levels. Incorporation of new technologies into construction equipment on the other hand, comes at a price that small builders and contractors may not be able to ideally afford, and therefore, many such firms prefer to rent required equipment and reduce costs and financial constraints.

The construction equipment rental industry is significantly impacted by labor shortage, as the  industry requires a variety of people, including service technicians, certified mechanics, and delivery drivers, for different operations. The construction equipment industry is currently facing a shortage of experienced technicians and is, therefore, looking to public policy measures to encourage more young people to join the profession. Many construction equipment companies are moving towards automation, such as driverless vehicles, while contractors may opt for increasing use of rental equipment, due to labor scarcity as well as to stay ahead of the competition.

To Get a PDF Sample Copy of the Report, visit @ https://www.emergenresearch.com/request-sample/476

Key geographical areas:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Leading Players Profiled in the Report:

Loxam Group, United Rentals, Inc.,, Mtandt Rentals Limited, Cramo PLC., Nesco Rentals, The Hertz Corporation, Boels Rentals, Unirent LLC, Caterpillar Inc., Ahern Rentals, Inc.

One of the report’s central components is the broad Construction Equipment Rental market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Construction Equipment Rental market players.

Some Key Highlights From the Report
Excavators segment accounted for second-largest revenue share in 2021. Excavators are common earthmoving vehicles that feature a bucket, an arm, a rotating cab, and movable tracks. These features provide superior digging power and mobility, allowing heavy equipment to perform a variety of tasks, such as trenching and digging, lifting waste, and excavating mines, among various other tasks. The ability to operate in confined spaces and restricted areas while exerting low ground pressure is a key factor driving demand for such machinery and equipment. Excavators also have auxiliary hydraulics, which allow for greater attachment versatility, which is expected to further increase adoption and preference in the coming years.

Material handling segment accounted for a considerably large revenue share in 2021. Material handling equipment is widely used for transportation, storage, and control of materials at various stages of projects. These types of equipment are becoming increasingly popular due to better work efficiency and productivity, fewer accidents in facilities, and most importantly, improved ability to complete tasks in the proposed/given or prescribed timeline with high success rate. The performance of various types of material handling equipment has gradually improved as a result of rapid technological advancements, and the trend is expected to continue over the forecast period. Furthermore, combining advanced Artificial Intelligence (AI) and Internet of Things (IoT) technologies with material handling equipment aids in activity monitoring and performance improvement, and makes for better ability to steadily progress towards automation, which is a major objective in a technologically-advancing world.

Request a Sample Copy of the Report @ https://www.emergenresearch.com/industry-report/construction-equipment-rental-market

This report is the latest document encompassing the massive changes that took place in the Construction Equipment Rental market following the emergence. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Construction Equipment Rental market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment.

Equipment Type Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
Earthmoving

Material Handling

Road Building

Concrete

Product Type Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
Excavators

Cranes

Backhoes

Crawler Dozers

Concrete Pumps

Application Outlook (Revenue: USD Billion; Volume: Million Units; 2017–2027)
Real Estate

Commercial Estate

Transport Power & Energy Infrastructure

Others

Request customization of this report @ https://www.emergenresearch.com/request-for-customization/476

Thank you for reading our report. To find more details on the report or to inquire about its customization, please let us know, and we will offer you the report as per your needs.

Latest Published Reports by Emergen Research:

Hematology Analyzers and Reagents Market @ https://www.emergenresearch.com/press-release/global-hematology-analyzers-and-reagents-market

microgrid market @ https://www.emergenresearch.com/industry-report/microgrid-market

autoclaved aerated concrete market @ https://www.emergenresearch.com/industry-report/autoclaved-aerated-concrete-market

medical wearable market @ https://www.emergenresearch.com/industry-report/medical-wearable-market

smart buildings market @ https://www.emergenresearch.com/industry-report/smart-buildings-market

voice biometrics market @ https://www.emergenresearch.com/industry-report/voice-biometrics-market

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyses consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
+91 90210 91709
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.