The global construction equipment rental market was valued at USD
34.24 billion in 2014 and is anticipated to reach USD 84.60 billion by 2022.
Increasing construction activities across the globe and rising government
investment in emerging economies are projected to drive market demand in the
coming years.
The abundance of modern and
productive equipment in rental fleets along with ongoing infrastructure
development is expected to fuel demand. Rented construction equipment has
several benefits such as ease of replacement, cost effective approach, less technical
charges, lower maintenance cost, reduced transportation and less servicing
requirement. These factors have been continuously driving the demand in the
coming years.
The material handling rental
machinery segment is anticipated to grow at a CAGR of 13.0% from 2015 to 2022
on account of increasing focus on automated production facility. Increasing
requirement of automated production processes for optimal use of raw material,
energy and resource consumption are expected to result in the higher adoption
of the product over the forecast period.
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Construction Equipment Rental Market: http://www.grandviewresearch.com/industry-analysis/construction-equipment-rental-market
Earthmoving rental machinery market was valued at USD 19.27
billion in 2014 and is projected to witness significant gains at a CAGR of
12.3% by 2022. Growing demand for heavy equipment from emerging economies is
anticipated to drive growth shortly.
The emergence of advanced
machinery with eco-friendly and low maintenance features is expected to outcast
conventional equipment in the coming years. The high purchasing power of
consumer with changing preference for rental equipment has also resulted in the
high adoption of rental products.
Middle East rental equipment
industry is projected to witness substantial growth at a CAGR exceeding 15% by
2022 owing to ongoing construction activities and extensive focus on
sustainable expansion practices such as eco-friendly building construction.
Rising capital investment in retail, hospitality, banking, transportation,
energy, infrastructure and agriculture programs and development of metal and
mining sector in the region are considered to be the major driving factors for
the growth of the market.
Asia Pacific construction
equipment market accounted for 25% of the total revenue in 2014 and is expected
to witness significant growth shortly. Rapid urbanization, commercialization of
industry, burgeoning population, robust fiscal growth, and increasing
government initiatives are expected to drive the market in the coming
years.
North America is projected to
grow at a CAGR of over 10% by 2022. Economic revival coupled with increasing
capital investments is estimated to compliment demand in the region. Increasing
residential construction with increasing investment along with volatile energy
pricing and favorable regulations is expected to escalate volume sales in the
European market.
Major industry players include
United Rentals, Hertz, Neff Rental, Ahern Rental, Loxam Group, and Sunbelt.
Other participants include Quippo, Finning, Ahern Rental, American Equip
Company (Ameco), Maxim Crane Works, Gemini Equip and Rentals, and Sunstate
Equip Company. The construction equipment rental industry is very capital
intensive in nature. Moreover, the market is characterized by mergers &
acquisitions, joint ventures, and strategic alliances to increase their market
penetration.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has segmented the construction equipment
rental market on the basis of product and region:
Construction Equipment Rental Product Outlook (Revenue,
USD Million, 2012 - 2022)
- Earthmoving machinery
- Material handling machinery
- Concrete & road construction
Construction Equipment Rental Regional Outlook (Revenue,
USD Million, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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