Construction Equipment Rental Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Construction and Manufacturing | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC480

Introduction

Forthcoming trends in equipment rental market have gained a lot of attention over the years and launch of fleet management software services by several leading OEMs is one of them. Growing attraction of end-users towards attainment of earth moving machinery on rent is an emerging trend. Equipment rentals are also known as plant hire in some regions. It is a service industry that offers machinery, tools and equipment of all types (from hand held tools to the earth moving equipment) for a limited period to the end-users, particularly to the construction industry and also to other industries such as mining, oil & gas and individual consumers.

Market Dynamics

Lease based equipment services provide better accessibility, hence encouraging consumers to utilize these material handling equipment. Escalating automation requirement for smooth flow of goods is anticipated to make positive impact on the demand of equipment during the forecast period. Moreover, increasing activities in oil & gas drilling along with highway network augmentation and formation of smart cities across various developing economies including India may elevate the product demand notably in the coming years. Established countries like the U.S. and UK are expected to carry out infrastructure and retrofitting activities more frequently contributing to the growth in this market. Furthermore, innovation in technology has offered better accuracy and efficiency in material handling, which may increase focus on workplace productivity and safety. These developments are also anticipated to fuel the growth of equipment rental market.

Market Classification

The equipment market is broadly segmented on the basis of product type that further includes material handling machinery, earth moving machinery and concrete & road construction machinery. The restricting lending conditions and depleting development activities have led to lesser investments in purchasing of products by contractors, thus resulting into potential rise in equipment renting market. Further, the market is globally segmented into North America, Asia-Pacific, Latin America, Europe and Middle East and Africa (MEA). The regional growth in APAC is majorly contributed by China, India, Singapore and Japan owing to rapid urbanization, commercialization, increasing government initiatives, burgeoning population and robust fiscal growth. Also, persistent privatization of construction sector and growing health & safety concerns along with surging labours adds up to the growth of equipment rental market in Asia-Pacific. Germany is expected to witness increase in construction activities throughout the residential sector because of the budding start-ups coupled with volatile energy pricing and suitable regulatory norms. Furthermore, state facilitated development and infrastructural developments are anticipated to push the growth opportunities for the manufacturers. Columbia’s National Development Plan & Mexico’s National Infrastructure Program is also expected to boost the equipment leasing market in American region during the forecast period.

Report Coverage

Market

Construction Equipment Rental Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Product Type, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

Some of the key players in this market are Sunbelt, Ahern, United Rentals, Neff Rentals and Hertz among others. Some of the leading companies in the value chain of this industry are Aggreko, Maxim Crane Works, Gemini Equipment and Rentals (GEAR), Komatsu, Terex Corporation Weldex International Offshore Ltd and Liebherr. The industry is also characterized by mergers and acquisitions, strategic alliances and joint ventures in order to attain presence globally. For instance, Phoenix Project Development and Dayim Holdings entered into a joint venture with Hertz in the year 2014 with the goal of improvisation of overall service offerings. With the presence of leasing channels, the companies have managed to enhance their customer service and made sure that they deliver a high quality product, on-time delivery, improved response time and scheduled pick-ups.

Market Segmentation

Market By Product Type

·         Material handling machinery

·         Earth moving machinery

·         Concrete & road construction machinery

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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