DUBLIN, Sept. 17, 2019 /PRNewswire/ -- The "Construction Equipment Rental Market by Equipment (Earthmoving, Material Handling, Road Building & Concrete), Product (Backhoes, Excavators, Loaders, Crawler Dozers, Cranes, Compactors, Concrete Pumps), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Construction Equipment Rental Market is Estimated to be USD 98.6 Billion in 2019 and is Projected to Reach USD 121.6 Billion by 2024, at a CAGR of 4.3% from 2019 to 2024.
The earthmoving segment is projected to drive the market for construction equipment rental market during the forecast period
Based on equipment, the construction equipment rental market is categorized into earthmoving, material handling, and road building & concrete. Among these, the earthmoving segment is projected to lead the construction equipment rental market during the forecast period. This is due to the wide acceptability, mobility, and ease of operation, coupled with the high cost of excavators, making the rental a more viable option.
Increasing infrastructure construction activities, such as roads, highways, metros, and airports are expected to drive the growth of the excavator's segment of the construction equipment rental market
Based on product, the construction equipment rental market is segregated into excavators, backhoes, loaders, crawler dozers, cranes, concrete pumps, compactors, transit mixers, concrete mixers, and others. Among these, the excavator's segment is projected to lead the market due to increase in infrastructure construction activities, such as roads, highways, metros, airports, bridges, along with refurbishment and redevelopment activities associated with residential construction. The crane's segment is projected to grow at the highest CAGR during the forecast period.
North America is estimated to account for the largest share of the market in 2019 and is also projected to lead during the forecast period
The North America region is projected to be the largest, whereas the Asia Pacific region is projected to grow at the highest CAGR in the construction equipment rental market during the forecast period. Increasing investments in construction and rising population in the Asia Pacific region are expected to lead to the increasing demand for construction equipment on a rental basis, and the trend is expected to continue during the forecast period. Europe accounted for the second-largest market share in 2018, however, the Asia Pacific is expected to outrank Europe to become the second-largest construction equipment rental market by 2024.
The construction equipment rental market is dominated by companies, such as United Rentals Inc. (US), Ashtead Group (UK), Atkio Corporation (Japan), Herc Rentals Inc., and Loxam (France).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Construction Equipment Rental Market, By Equipment
7 Construction Equipment Rental Market, By Product
8 Regional Analysis
9 Competitive Landscape
10 Company Profiles
- United Rentals, Inc.
- Herc Holdings Inc.
- Ashtead Group Plc
- Aktio Corporation
- Loxam Sas
- Kanamoto Co., Ltd.
- Nishio Rent All Co., Ltd.
- H&E Equipment Services, Inc.
- Nikken Corporation
- Cramo Group
- Ramirent Plc
- Maxim Crane Works, L.P.
- Sarens Nv
- Taiyokenki Rental Co., Ltd.
- Ahern Rentals, Inc.
- Boels Rental
- Speedy Hire Plc
Other Key Players
- Coates Hire
- Sunstate Equipment Company
- Zeppelin Rental
- Liebherr Mietpartner
- Hitachi Construction Machinery Japan Co., Ltd.
- Hss Hire
- Ameco Inc.
For more information about this report visit https://www.researchandmarkets.com/r/huv4j8
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