The North American Trench Shoring Equipment Rental Market is Projected to Grow at a CAGR of over 6.0% During 2022-2029

DUBLIN, 26 July, 2023 /PRNewswire/ -- The "2023 North American Trench Shoring Equipment Rental Market" report has been added to ResearchAndMarkets.com's offering.

This study aims to provide a detailed analysis of the North American trench shoring equipment rental market along with qualitative trends for the year 2022. Trench shoring equipment, for temporary applications, enables customers to safely work in an excavation environment and meet OSHA and other safety-organization guidelines.  

The market numbers included in this report represent revenues generated by companies operating in the trench shoring equipment rental market in the United States and Canada. The base year for the study is 2022 and the forecasts are provided until 2029.

This study captures the following information on the North American trench shoring equipment rental market:

• Market Size, Growth Rate, Revenue Forecasts (2022-2029)
• Growth Drivers & Restraints
• Market Data
• Market Share Analysis
• Market Trends
• Quotes by Key Industry Participants

This analysis of the North American Trench Shoring Equipment Rental Market reveals that it reached revenues of $1,858.5 million in 2022 and has experienced significant growth over the past three years, despite the challenges posed by the COVID-19 pandemic and supply chain limitations. 

The market has observed an increase in work activity and is projected to maintain a compound annual growth rate (CAGR) of over 6.0% from 2022 to 2029.

While the market has shown resilience and growth, there is expected to be a temporary slowdown in its expansion during 2023 and 2024. This deceleration can be attributed to a decrease in construction activities for residential and non-residential projects, as well as challenges associated with implementing federal infrastructure funding. However, the market is anticipated to regain momentum due to the expansion of infrastructure, investments in upgrading pipeline and water infrastructure, increased awareness, and enhanced regulations regarding the use of trench shoring equipment.

One significant driving factor for the North American Trench Shoring Equipment Rental Market is the Bipartisan Infrastructure Law (BIL), also known as the Infrastructure Investment and Jobs Act. This law, signed in November 2021, has allocated over $1 trillion for infrastructure improvements in the United States, with specific funds dedicated to transportation, water, and broadband infrastructure projects. The implementation of the BIL is expected to stimulate construction activity, leading to a higher demand for trench shoring equipment rental to ensure worker safety during construction.

Additionally, the investment in upgrading pipeline infrastructure will contribute to the increased demand for trench shoring equipment rental. As more pipelines are upgraded and installed, there will be a greater need for shoring equipment to ensure worker safety and prevent soil collapse during excavation and construction. The oil and gas industry, in particular, has stringent safety requirements, making shoring equipment essential to meet those standards.

Among the various end user segments (water, wastewater, and storm infrastructure; oil & gas distribution infrastructure; transport infrastructure; and electrical utility), the water, wastewater, and storm infrastructure sector accounted for half of the total market in 2022. This sector is expected to experience the highest growth during the forecast period, driven by the $55 billion allocated to water infrastructure by the BIL and the realization of projects aimed at upgrading water infrastructure to reduce sewage overflows and comply with the Clean Water Act.

This report provides an overview of the trench shoring equipment rental market in North America (United States and Canada). The report captures the growth drivers, restraints, market trends, market share by revenue, and the competitive supplier landscape.

Key Topics Covered:

I. Research Scope, Methodology

II. Segmentation by type of equipment and end user

III. Executive Summary
a. Revenues by end user
b. Major Data Points
c. North American Trench Shoring Equipment Rental Market Revenues, 2022 & 2029
d. Major trends
e. Market drivers
f.  Market restraints
g. Main market participants

IV. Market Drivers

V. Market Restraints

VI. Market Trends
a. Increasing rental rates
b. Training on trench safety
c. Repair of trench shoring equipment
d. Use of automatic attachment system
e. Inflatable shoring

VII. Market data
a. North American Trench Shoring Equipment Rental Market revenues (2022-2029)
b. United States Trench Shoring Equipment Rental Market revenues (2022-2029)
c. Canada Trench Shoring Equipment Rental Market (2022-2029)
d. North American Trench Shoring Equipment Rental Market revenues by equipment type (Slide Rail, Trench Shield, Road Plates, Hydraulic Shoring)
e. North American Trench Shoring Equipment Rental Market revenues by end user (2022)
f. North American Trench Shoring Equipment Rental Market revenues by end user (2029)

VIII. Competitive Landscape
a. North American Trench Shoring Equipment Rental Market share by company, 2022
b. Major M&A in the trench shoring equipment rental market.
c. Competitive factors
d. Quotes from the industry

IX. Company Profiles
a. Cooper Trench Safety
b. D.P. Nicoli
c. Finning International
d. Icon Equipment Distributors
e. National Trench Safety LLC.
f. Sunbelt Rentals Inc.
g. Sunstate
h. Toromont Industries Ltd.
i. Trench Shore Rentals
j. Trench Shoring Company
k. United Rentals Inc.

For more information about this report visit https://www.researchandmarkets.com/r/qgzkg6

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