Construction Equipment Rental Market Size & Share 2021-2026, North America, Europe & APAC Industry Statistics with COVID-19 Impact Analysis: Graphical Research
Europe construction equipment rental market size to cross $47 billion valuation by 2026 | End-users segment to boost growth in North American market | Asia Pacific industry to register 6% CAGR through the projected duration
Pune, India – August 5, 2021 /MarketersMedia/ —
Graphical Research has launched a report on construction equipment rental market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
According to an estimate, construction equipment rental market size is forecast to expand at a notable rate by 2026. Robust trends which are likely to have an overarching influence on the global front are delineated below:
Europe to exhibit traction for concrete equipment
Concrete equipment will be highly desirable in the U.K., Germany, Italy, Denmark and Croatia following the demand for advanced concrete machines on construction sites. Demand for asphalt pavers, for instance, will be pronounced in soaring road building activities across the region. Prominently, Polish government announced the highway development plan in 2014 to expedite the development of more than 1,800 km of new highways by 2021.
Stakeholders are slated to further their investments in earthmoving and road building equipment on the heels of soaring adoption of excavators, backhoe and loaders across the region. These machines will gain prominence for digging trenches, grading soil and removing dirt and rocks. The market share from the earthmoving and road building equipment in Europe will grow at a robust pace by 2026.
Access sample pages of the report, “Europe Construction Equipment Rental Market Forecasts 2026” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1664/sample
Italy to witness increased construction activities
Italy is likely to witness increased investments in the backdrop of the demand for equipment rental services in the construction industry. Moreover, favorable government initiatives on infrastructure development will further the construction equipment rental market outlook. Specifically, Milan Bergamo airport rolled out an investment plan of USD 503.09 million in Italy to be completed through 2030.
Rising demand for residential and commercial spaces in Russia has further triggered investments in the region. Burgeoning urbanization will prompt industry players to infuse funds in the region. According to a study, more than 74% of the Russian population lived in urban areas in 2019.
Loaders to be sought-after in North America
With the expanding consumer base of earthmoving & roadbuilding equipment in the U.S., Canada and Mexico, loaders will witness bullish demand in the region. The trend for loading materials such as clearing rubble, trucks and digging will bolster the product adoption to move and lift heavy objects. The construction equipment rental market share from the loaders subsegment will grow at a significant rate in the next few years, partly attributed to the innate ability of these machines to shift materials from one place to another.
End-users will exhibit increased traction for industrial trucks as they can boost productivity and reduce human efforts. Considering the uptake of material handling and cranes, leading companies are poised to up their investments in industrial trucks.
Access sample pages of the report, “North America Construction Equipment Rental Market Forecasts 2026” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1610/sample
Canada to provide revenue boosting opportunities
Industry participants are expected to focus on expanding footprint in North America, with Canada slated to witness increased demand for construction equipment rental services. So much so that the government is dwelling on boosting investments in the region. To illustrate, the government of Canada earmarked USD 81.2 billion to foster the Canada initiative—emphasizing growth of public and commercial infrastructure.
The current trend alludes to rising prominence of strategic collaboration, mergers & acquisitions and partnerships. Specifically, BakerCorp International Holdings, Inc., was acquired by United Rentals in July 2018 to expand its consumer base across the region. Meanwhile, Ahern Companies partnered with Trackunit in June 2020 for telematics.
Material handling and cranes to thrive in Asia Pacific
With bullish projection of the construction industry in India and China, the trend for material handling and cranes will boost the revenue stream in the region. Rising adoption of material handling equipment in the freight transport sector will bolster rental equipment services.
Earth moving and road building equipment will rise in prominence in the wake of increasing adoption of excavators and backhoes to augment construction activities. Thriving investments in public infrastructure activities, including refurbishment of ageing buildings and road buildings in Japan and China will augur well for the industry size expansion.
India and China to reign supreme with rising equipment rental services
Even though the COVID-19 pandemic will mar the industry outlook, robust demand for equipment rental goods and services will surge dramatically in the ensuing period. For instance, construction projects such as Navi Mumbai International Airport, Pune Metro Rail and Chenab River Railway Bridge in India have added fillip to the construction equipment rental industry.
Leading companies have upped their investments in Asia Pacific to gain a hold in the global front. For instance, Nishio Rent All Co. Ltd. acquired United Power & Resources in July 2019 to expand its penetration in China. Besides, JP Nelson Equipment and Kanamoto Co. Ltd. joined hands to launch a subsidiary in November 2018 and started operation in Malaysia.
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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