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Construction Equipment Rental Market 2020| Business Scope for the Forecast period 2026

Construction Equipment Rental Market 2020| Business Scope for the Forecast period 2026

Selbyville, Delaware, United States, September 15 2020 (Wiredrelease) Global Market Insights, Inc –:4 main factors fueling construction equipment rental market size over 2020-2026. Increasing focus of contractors to avert the initial high cost associated with the purchase of construction machines has strengthened the global construction equipment rental market outlook over the years. The economic improvement among people in both developed and developing countries has led to an increase in the construction activities world over, due to the surge in demand for advanced residential, commercial and industrial infrastructure solutions.

Mentioned below are some of the main factors influencing construction equipment rental market trends through 2026.

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Development of roads and highways in emerging countries

The governments in emerging countries like India, Brazil, China and Argentina have heavily invested towards the development of roads and railways to increase the road connectivity across remote and urban areas. This has amplified the use of concrete equipment which has consequently boosted the construction equipment rental market share.

Reportedly, the government of India established a road development plan for the North East Indian region. Phase 1of the project states the upgrade of nearly 4,099 km of roads with a budget of USD 3.3 billion and is slated to be completed by the end of 2021. This has in turn magnified construction equipment rental service demand in the region.

Initiatives undertaken by industry players

Construction equipment rental service providers are constantly aiming at entering into strategic alliances and mergers to increase their target customer reach, with an aim to increase revenue gains. Some of the prominent industry players include Aktio Corporation, Unirent LLC, The Hertz Corporation, United Rentals, Inc. and Ahern Rentals, Inc., among various others.

During October 2018, United Rentals acquired BlueLine from Platinum Equity for an approximate value of USD 2.1 billion. This helped the company to improve its rental capacity across the North American region. Moreover, the industry players are aiming at optimizing their fleet size to meet the changing demand for the construction equipment.

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European Government to ensure sustainability in construction

In Europe, the governments have invested towards the smart city development projects, with countries aiming to develop nearly 300 smart cities by the end of 2020. Moreover, the increasing cost of labor along with the need for energy-efficient, sustainable, LEED-certified green buildings has fueled the use of electric and automated construction machineries in the region.

Construction equipment manufacturers like Volvo, Liebherr and JCB have launched electric version of construction machinery to encourage the use of zero-emission equipment.

The emergence of smart cities

Worldwide, governments are also focusing on refurbishing the present infrastructure and have signed new construction projects to ensure the overall economic development. The emergence of smart cities is one of the major construction activities to have magnified the market prospects. In developing countries such as India, smart cities have gained considerable popularity due to their enhanced citizen and government engagement as well as reduced environmental footprint.

The Ministry of Housing and Urban Affairs, Government of India, launched the Smart Cities Mission in the year 2015 with an aim to improve the quality of life of people by enabling local development and using technology as a means to develop smart outcomes for the citizens.

Table of contents for this research [email protected]  https://www.gminsights.com/toc/detail/construction-equipment-rental-market

 Report Content

Chapter 1.    Methodology & Scope

1.1.    Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and research parameters

1.2.    Data Sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2.    Executive Summary

2.1.    Construction equipment industry 360º synopsis, 2015 – 2026

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Product trends

Chapter 3.    Industry Insights

3.1.    Industry segmentation

3.2.    Industry landscape, 2015 – 2026

3.2.1. Construction equipment landscape

3.2.2. Used construction equipment landscape

3.3.    Industry ecosystem analysis

3.3.1. Pros and cons – rent vs purchase of construction equipment

3.3.2. Cost calculator – rent vs purchase of construction equipment

3.3.3. Technology providers

3.3.4. Vendor matrix

3.4.    Technology & innovation landscape

3.4.1. Telematics

3.4.2. Electromobility

3.4.3. AI & machine learning

3.4.4. IoT

3.4.5. Drones

3.4.6. Robotics

3.5.    Regulatory landscape

3.5.1. ISO standards

3.5.1.1.    ISO 4310

3.5.1.2.    ISO 8686

3.5.1.3.    ISO 10245-1:2008

3.5.1.4.    ISO 12480-1

3.5.1.5.    ISO 23815-1

3.5.1.6.    ISO 12482

3.5.1.7.    ISO 23814

3.5.1.8.    ISO 19432:2012

3.5.2. North America

3.5.3. Europe

3.5.4. Asia Pacific

3.5.5. Latin America

3.5.6. MEA

3.6.    Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    High initial costs of construction equipment

3.6.1.2.    Implementation of advanced technologies in construction machinery

3.6.1.3.    Increasing infrastructure investments across the globe

3.6.1.4.    Rapidly developing Asia Pacific construction industry

3.6.1.5.    Rising equipment rental demand in North America

3.6.1.6.    Increasing rate of urbanization in the U.S.

3.6.1.7.    Increasing infrastructure and industrial projects in Russia

3.6.1.8.    Growing urbanization and safety concerns in India

3.6.1.9.    Rapid infrastructure development in BRIC countries

3.6.1.10.    Growing reconstruction and maintenance activities in Japan

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Cyclic instability of application industries

3.6.2.2.    Lack of skilled and qualified operators

3.6.2.3.    Optimizing fleet utilization

3.6.2.4.    Lack of awareness

3.7.    Growth potential analysis

3.8.    Porter’s analysis

3.9.    Competitive landscape, 2019

3.9.1. Strategy dashboard

3.9.2. Investment landscape

3.10.    PESTEL analysis

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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