Construction Equipment Rental Market Outlook, Geographical Segmentation, Size & Share, Comprehensive Analysis to 2030
construction & mining activities either declined rapidly or came to complete halt, which directly hampered rental revenues from the construction equipment.
PORTLAND, UNITED STATES, November 10, 2022 /EINPresswire.com/ — Allied Market Research published a report, construction equipment rental market According to the report, construction equipment rental market size was valued at $90,997.4 million in 2019, and is expected to reach $106,422.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027.
The research provides a detailed analysis of drivers, restraints, and opportunities of the global construction equipment rental market. These insights shower necessary guidance to determine driving factors and implement strategies to gain a sustainable growth and tap on opportunities to explore the potential of the market.
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construction equipment rental is the service to rent out construction equipment to end users for a certain period of time by signing contracts with terms and condition about their usage. Construction equipment are majorly used at construction mining sites to facilitate heavy operations.
Covid-19 impact:
• Construction and manufacturing activities of construction equipment rental halted due to the implementation of the global lockdown.
• Moreover, supply chain disruptions, shortage of labor force, and unavailability of raw materials created several challenges in carrying out manufacturing in full capacity.
• Several construction activities were delayed in order to maintain the social distancing norms.
• The demand from end use industries reduced significantly due to halt in day-to-day operations in 2020. However, the demand would grow steadily during post-lockdown as daily operations get back on track.
• The ban on import-export activities led to supply chain disruption and supply-demand gap. As the restrictions are lifted off, the supply chain will be restored.
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By Application
•
o Excavation & Mining
o Material Handling
o Earthmoving
o Concrete
By Product
•
o Backhoes & Excavators
o Loaders
o Crawler Dozers
o Cranes
o Forklift
Construction equipment rental market growth is driven by increase in construction & mining activities in developing nations of Latin America and Africa regions. In addition, additional expenses incurred due to maintenance of the equipment, excessive operational cost, and high wages of skilled operators can be saved by renting equipment for the required time, which significantly contributes toward the growth of the global market. Moreover, high initial investment required to buy equipment and financial constraints can be avoided by opting for the rental equipment, thereby augmenting the market growth.
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Competitive Landscape:
Boels Rentals
H&E Equipment Services
Herc Rentals Inc.
Kanamoto Co., Ltd.
Nesco Holdings, Inc.
Maxim Crane Works, L.P.
Mtandt Group
Ramirent
Sarens n.v./s.a.
United Rentals, Inc.
These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders:
• This report offers a quantitative analysis of the market segments, current trends, estimations, and dynamics of the operating room equipment market analysis from 2021 to 2031 to identify the prevailing operating room equipment market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the operating room equipment market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global operating room equipment market trends, key players, market segments, application areas, and market growth strategies.
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