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Global Construction Equipment Rental Market to reach USD 167.8 billion by the end of 2030.

Global Construction Equipment Rental Market Size study & Forecast, by Vehicle Type (Earth Moving Equipment, Material Handling Equipment), by Drive Type (IC Engine, Hybrid Drive) and Regional Analysis, 2023-2030

Product Code: OIRBC-99235113
Publish Date: 10-08-2023
Page: 200

Global Construction Equipment Rental Market is valued at approximately USD 112.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.16% over the forecast period 2023-2030. Construction equipment rental refers to the practice of leasing or renting construction machinery and equipment for a specified period, typically on a short-term basis, to contractors, construction companies, or individuals involved in construction projects. It offers a flexible and cost-effective solution, allowing users to access a wide range of equipment without the need for substantial upfront investments. Rental providers take care of equipment maintenance and service, while customers benefit from increased flexibility, scalability, reduced maintenance costs, and access to the latest technology and specialized machinery tailored to their project needs. The driving factors boosting the market growth are increasing infrastructure investment and the adoption of rental culture.

Increasing infrastructure investment is set to boost the construction rental equipment market, as more funds are allocated to infrastructure projects, driving the demand for construction equipment. Rental equipment providers will benefit from the growing need for flexible and cost-effective equipment solutions, supporting construction companies and contractors in their project requirements. According to Statista, global infrastructure spending is expected to reach USD 9 trillion per year by 2025, driving the demand for construction equipment rental services. The adoption of rental culture and changing attitudes towards equipment ownership have contributed to the growth of the construction equipment rental market. Contractors and construction companies are increasingly recognizing the benefits of renting equipment and are integrating rental solutions into their business strategies. Moreover, technological advancements in construction equipment and the growing trend for long-term rental contracts are expected to create abundant opportunities. However, the high cost of renting construction equipment and the shortage of skilled operators stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Construction Equipment Rental Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 due to developed infrastructure, large-scale construction projects, strong economy and construction sector and the presence of prominent construction equipment manufacturers. Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as rapid urbanization and infrastructure development, emerging economies such as India and China that are investing heavily in infrastructure projects, and a growing focus on sustainable construction practices.

Major market player included in this report are:
Herc Rentals, Inc.
H&E Equipment Services Inc.
United Rentals Inc.
Ashtead Group PLC
Sumitomo Corp.
Hitachi Construction Machinery Co. Ltd. (Hitachi Group)
Liebherr International AG
Kanamoto Co. Ltd
HSS Hire Group PLC
Nishio Rent All Co. Ltd.

Recent Developments in the Market:
Ø In December 2022, Dubai-based online crane rental service, MyCrane, established its own operations in the United States instead of opting for franchisees, as it has done in other regions. This decision reflects the company’s strategic approach to directly oversee its operations in the US market.
Ø In December 2022, Maxim Crane Works L.P., a leading rental giant in the US, introduced Maxim MarketplaceTM, an innovative online platform for selling used equipment. Developed in collaboration with Krank, the industry’s first software developer, Maxim MarketplaceTM offers a user-friendly interface to showcase and sell the company’s extensive fleet-owned cranes and support equipment, enabling the rental giant to efficiently refresh its fleet through this cutting-edge online sales platform.

Global Construction Equipment Rental Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Vehicle Type, Drive Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Earth Moving Equipment
Material Handling Equipment

By Drive Type:
IC Engine
Hybrid Drive

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Construction Equipment Rental Market, by Region, 2020-2030 (USD Billion)
1.2.2. Construction Equipment Rental Market, by Vehicle Type, 2020-2030 (USD Billion)
1.2.3. Construction Equipment Rental Market, by Drive Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Construction Equipment Rental Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Construction Equipment Rental Market Dynamics
3.1. Construction Equipment Rental Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing infrastructure investment Adoption of Rental Culture
3.1.2. Market Challenges High Cost of renting construction equipment Shortage of Skilled Operators
3.1.3. Market Opportunities Technological advancements in construction equipment Growing trend for long-term rental contracts
Chapter 4. Global Construction Equipment Rental Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Construction Equipment Rental Market, by Vehicle Type
5.1. Market Snapshot
5.2. Global Construction Equipment Rental Market by Vehicle Type, Performance – Potential Analysis
5.3. Global Construction Equipment Rental Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
5.4. Construction Equipment Rental Market, Sub Segment Analysis
5.4.1. Earth Moving Equipment
5.4.2. Material Handling Equipment
Chapter 6. Global Construction Equipment Rental Market, by Drive Type
6.1. Market Snapshot
6.2. Global Construction Equipment Rental Market by Drive Type, Performance – Potential Analysis
6.3. Global Construction Equipment Rental Market Estimates & Forecasts by Drive Type 2020-2030 (USD Billion)
6.4. Construction Equipment Rental Market, Sub Segment Analysis
6.4.1. IC Engine
6.4.2. Hybrid Drive
Chapter 7. Global Construction Equipment Rental Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Construction Equipment Rental Market, Regional Market Snapshot
7.4. North America Construction Equipment Rental Market
7.4.1. U.S. Construction Equipment Rental Market Vehicle Type breakdown estimates & forecasts, 2020-2030 Drive Type breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Construction Equipment Rental Market
7.5. Europe Construction Equipment Rental Market Snapshot
7.5.1. U.K. Construction Equipment Rental Market
7.5.2. Germany Construction Equipment Rental Market
7.5.3. France Construction Equipment Rental Market
7.5.4. Spain Construction Equipment Rental Market
7.5.5. Italy Construction Equipment Rental Market
7.5.6. Rest of Europe Construction Equipment Rental Market
7.6. Asia-Pacific Construction Equipment Rental Market Snapshot
7.6.1. China Construction Equipment Rental Market
7.6.2. India Construction Equipment Rental Market
7.6.3. Japan Construction Equipment Rental Market
7.6.4. Australia Construction Equipment Rental Market
7.6.5. South Korea Construction Equipment Rental Market
7.6.6. Rest of Asia Pacific Construction Equipment Rental Market
7.7. Latin America Construction Equipment Rental Market Snapshot
7.7.1. Brazil Construction Equipment Rental Market
7.7.2. Mexico Construction Equipment Rental Market
7.8. Middle East & Africa Construction Equipment Rental Market
7.8.1. Saudi Arabia Construction Equipment Rental Market
7.8.2. South Africa Construction Equipment Rental Market
7.8.3. Rest of Middle East & Africa Construction Equipment Rental Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Herc Rentals Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. H&E Equipment Services Inc.
8.3.3. United Rentals Inc.
8.3.4. Ashtead Group PLC
8.3.5. Sumitomo Corp.
8.3.6. Hitachi Construction Machinery Co. Ltd.(Hitachi Group)
8.3.7. Liebherr International AG
8.3.8. Kanamoto Co. Ltd
8.3.9. HSS Hire Group PLC
8.3.10. Nishio Rent All Co. Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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