Market Overview

Construction Equipment Rental Market - Top Drivers and Forecasts by Technavio

Share:

Technavio
market research analysts forecast the
global construction equipment rental market
to grow at a CAGR
of more than 5% during the forecast period, according to their latest
report.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170814005432/en/

Technavio has published a new report on the global construction equipment rental market from 2017-20 ...

Technavio has published a new report on the global construction equipment rental market from 2017-2021. (Photo: Business Wire)

The market study covers the present scenario and growth prospects of the
global construction
equipment rental
market for 2017-2021. The report also lists
Europe, North Americas, APAC, and ROW as the four major geographical
segments, of which Europe accounted for the maximum share of 36%,
followed by the North America and APAC with market shares of 35% and
19%, respectively. ROW accounted for 10% of the overall market share.

According to Anju Ajaykumar, a lead analyst at Technavio for construction
research, "The increase in the number of construction projects will
add to the growth of the market. Increased investments by the
governments of many countries, in the development of transport
infrastructure, will spur the demand for concrete and road construction
equipment during the forecast period."

This report is available at a USD 1,000 discount for a limited time
only:
View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global construction equipment rental
market:

  • Rising need to replace outdated equipment
  • Growing construction in the US
  • Growing environmental concerns

Looking for more information on this market? Request
a free sample report

Technavio's sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Rising need to replace outdated equipment

Increasing need to replace the outdated and obsolete equipment and rise
in the rental service from major vendors will drive the global
construction equipment rental market. Construction equipment such as
dump truck, dozer, and grader, forklift, or tractors cannot be used
after a certain point. The extended use of construction equipment will
have a severe impact on the operational cost maintenance and repairs.

Rental companies are focused on providing excellent customer service in
terms of machine performance and maintenance. This factor is expected to
drive many new equipment buyers to shift toward renting as this will act
as a major cost saving. Thus, renting equipment, which will have all
regulations in place plus additional maintenance service, is becoming
preferable for buyers.

Growing construction in the US

The US remains one of the world's largest real estate markets, and the
non-residential sector is set to rise in the US. The construction market
in the US is driven largely by the construction offices, warehouses,
and multi-family apartments. The non-residential sector is experiencing
consistent growth in the US. Also, the country is experiencing a rising
interest of foreign investors in its real estate sector. For instance,
several Chinese developers have collaborated with US firms to work on
massive landmark development projects. Greenland Holding Group, the
Shanghai-based real estate development company, has been working to
complete Metropolis, the largest mixed-use development on the west
coast, which is expected to be completed in 2018.

Growing public and private infrastructure spending in developing
nations

Growing urbanization and increasing disposable income in emerging
countries are demanding governments to increase their public spending
toward infrastructure development. In India, the government allocated a
sum of USD 7.2 billion for the implementation of smart city mission.
Recently, the real estate giant, Emaar, invested USD 1.32 billion in
India for commercial construction development as part of the foreign
direct investment.

"This huge growth of construction activity in both the commercial and
residential sectors in APAC is anticipated to fuel the demand growth of
anti-skid ceramic tile in the region. Population and income growth can
also lead to the growth of the residential sector in emerging nation,"
says
Anju.

Indonesia is one among the emerging nations, which is showing
significant growth in residential apartments. A large population base
blended with strong economic growth over the past few years has boosted
the country's housing market, especially in Jakarta.

Browse Related Reports:

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio's comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at media@technavio.com.

View Comments and Join the Discussion!