Construction Equipment Rental Market Outlook in Europe 2020 - Industry Statistics Analysis by 2026

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Europe Construction Equipment Rental Market to
Cross USD 47 Bn by 2026 Graphical Research
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European Construction Equipment Rental Market
size is expected to exceed USD 47 billion by
2026, according to a latest forecast report by
Graphical Research. Rapid increase in the
development of robust road infrastructure and
smart cities in Europe is fueling the market
demand. Initiatives undertaken by government
authorities and construction companies toward
infrastructural development will support the
market expansion. For instance, in October 2019,
Bouygues Construction Company signed an agreement
to broaden four lanes of around 28.1-kilometre
pathway of the Istria Motorway located in
north-western Croatia. The contract was awarded
by Bina Istra concession company and was worth
over USD 200 million. Increasing urbanization
in countries including Russia, Italy, and the UK
will provide growth opportunities for the
construction equipment rental market in Europe.
The growing urban population in the region will
augment the demand for commercial and residential
spaces, propelling the market revenue. As of
2019, over 74 of the Russian population lived in
urban areas. Government support toward the
development of residential infrastructure in
European countries. The rising spread of
COVID-19 has impacted the construction equipment
rental industry in Europe as countries in the
region faced huge economic disruption and
stringent lockdowns during the first two quarters
of 2020. The pandemic has also adversely impacted
the ongoing construction projects, resulting into
a decline in demand for rental equipment.
However, with the containment of virus and
economic revival. Shifting preferences of
construction companies toward rental equipment to
reduce the operating expenditure will support the
industry size.
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The concrete equipment segment is predicted to
register substantial growth during the forecast
period attributed to the rapid increase in the
deployment of advanced concreting machines on
construction sites. The segment is further
categorized into concrete pumps, transit mixers,
crushers, asphalt pavers, and batching plants.
Asphalt pavers are witnessing a high demand in
road building activities in Europe. The highway
development plan announced by the Polish
government in 2014 is facilitating the
development of over 1,800 km of new highways by
2021 in Poland. The European Union has invested
approximately USD 13 billion in this project.
Prominent players in the market are Caterpillar
Inc., Loxam Group, United Rentals, Cramo PLC.,
Nesco Rentals, Boels Rental, and Hertz
Corporation. These players are majorly focusing
on mergers and acquisitions in order to enhance
their business reach and expand the customer
base. For instance, in February 2020, Boels
Rental acquired the majority shares of Cramo PLC.
The acquisition significantly enhanced the market
share of Boels Rental in the Europe market.
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Segmentation of Europe Construction Equipment
Rental Market Europe Market, By
Product Earthmoving Road Building
Equipment Backhoe Excavator Loader Material
Handling Cranes Storage Handling
Equipment Engineered Systems Concrete
equipment Concrete Pump Crusher Transit
Mixer The above information has been provided
for the following countries Europe UK Germany Fra
nce  
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About Graphical Research Graphical Research is
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2018 Graphical Research. All rights
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