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
Chapter 1. Methodology & Scope
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
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
3.4.3. AI & machine learning
3.5. Regulatory landscape
3.5.1. ISO standards
220.127.116.11. ISO 4310
18.104.22.168. ISO 8686
22.214.171.124. ISO 10245-1:2008
126.96.36.199. ISO 12480-1
188.8.131.52. ISO 23815-1
184.108.40.206. ISO 12482
220.127.116.11. ISO 23814
18.104.22.168. ISO 19432:2012
3.5.2. North America
3.5.4. Asia Pacific
3.5.5. Latin America
3.6. Industry impact forces
3.6.1. Growth drivers
22.214.171.124. High initial costs of construction equipment
126.96.36.199. Implementation of advanced technologies in construction machinery
188.8.131.52. Increasing infrastructure investments across the globe
184.108.40.206. Rapidly developing Asia Pacific construction industry
220.127.116.11. Rising equipment rental demand in North America
18.104.22.168. Increasing rate of urbanization in the U.S.
22.214.171.124. Increasing infrastructure and industrial projects in Russia
126.96.36.199. Growing urbanization and safety concerns in India
188.8.131.52. Rapid infrastructure development in BRIC countries
184.108.40.206. Growing reconstruction and maintenance activities in Japan
3.6.2. Industry pitfalls & challenges
220.127.116.11. Cyclic instability of application industries
18.104.22.168. Lack of skilled and qualified operators
22.214.171.124. Optimizing fleet utilization
126.96.36.199. 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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