Construction Equipment Rental Market will grow at a CAGR of over 4% from 2018 to 2024. - PowerPoint PPT Presentation

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Construction Equipment Rental Market will grow at a CAGR of over 4% from 2018 to 2024.

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The earthmoving & road building equipment segment dominated the construction equipment rental market with a revenue share of over 65% in 2017 is continue grow due to the increasing large-scale construction projects globally. Rapid urbanization has led to the growth in the demand for such equipment in commercial and residential construction activities. – PowerPoint PPT presentation

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Title: Construction Equipment Rental Market will grow at a CAGR of over 4% from 2018 to 2024.


1
Construction Equipment Rental Market Growth,
Application Analysis from 2018 to 2024
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2
Global Market Scenario of Construction Equipment
Rental Industry
  • Increasing residential commercial construction
    projects globally are anticipated to drive the
    construction equipment rental market.
  • Improving standards of living and increasing
    disposable income of people across the emerging
    economies have led to increased investments in
    malls amusement parks, generating demand for
    the rental industry.
  • Rising reconstruction activities in the U.S.
    followed by the aging infrastructures are
    propelling the need to replace it with sturdy
    structures is propelling the growth of around
    3.5 CAGR in the U.S. construction equipment
    rental market growth.
  • The demand for modernized structures has paved
    way for smart buildings smart cities,
    compelling various regional governments to
    heavily invest in the infrastructure development.

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3
Continue-
  • Large construction projects by various regional
    governments, such as Al Maktoum Airport in Dubai,
    South-to-North Water Transfer Project in China,
    Crossrail Project in the UK, and Rashtriya
    Rajmarg Zila Sanjoyokta Pariyojna in India, are
    expected to contribute to the construction
    equipment rental market growth.
  • Owning heavy construction equipment leads to
    increased maintenance and ownership expenses.
    Businesses that have budgetary constraints prefer
    renting equipment since it helps them to reduce
    the overall project expenditure.
  • In addition, renting equipment saves the hassle
    of transporting machinery to project sites. It
    also provides the flexibility of renting
    customized equipment for the suitable
    construction projects under consideration.
    Renting equipment cushions the company from
    unpredictable financial downturns in the
    industry. To reduce the overall project expenses,
    renting is considered as a profitable approach,
    contributing to the construction equipment rental
    market growth.

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4
U.S. Construction Equipment Rental Market, By
Product, 2017 2024 (USD Million)
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5
360 Industry Analysis
  • The earthmoving road building equipment segment
    dominated the construction equipment rental
    market with a revenue share of over 65 in 2017
    is continue grow due to the increasing
    large-scale construction projects globally. Rapid
    urbanization has led to the growth in the demand
    for such equipment in commercial and residential
    construction activities. Earthmoving equipment
    such as backhoes, loaders, and excavators find
    applications for residential and commercial
    construction works.
  • Global financial crisis and economic fluctuations
    are the key factors hampering the construction
    equipment rental market growth. Lack of skilled
    workforce to operate the machines coupled with
    the fluctuations in fuel price is expected to
    have a negative impact on the industry. Rental
    companies incur increased maintenance costs owing
    to the aging rental fleets, limiting the industry
    demand.

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6
  • Regional Analysis
  • Europe construction equipment rental market is
    expected to grow at a CAGR of over 4.5 owing to
    the shifting trend among European construction
    companies to rent rather than purchasing
    equipment. Several countries in Europe including
    Russia, Spain, and Italy are recovering from the
    economic crisis, following which the construction
    sector is gaining stability across these regions.
    Countries including France and Spain are showing
    a steady growth due to the increasing number of
    construction projects in the region.
  • Competitive Analysis
  • The construction equipment rental market is
    highly competitive with the presence of key
    players such as Cramo PLC, Ashtead Group,
    Blueline Rental LLC, Nesco Rentals, Riwal, Herc
    Holdings, Caterpillar, Inc., Shanghai Hongxin
    Equipment Engineering Co., Ltd., Ahern Rentals,
    Inc., Loxam Group, and United Rentals.

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7
Latest Research Report On Construction
Equipment Rental Market_at_ https//www.gminsights.c
om/industry-analysis/construction-equipment-rental
-market Request for sample of this research
report_at_ https//www.gminsights.com/request-sample
/detail/773
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8
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Thank You!
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