Construction Equipment Rental Market size to cross $225 Bn by 2032

Published Date: February 1, 2023

Construction Equipment Rental Market size is projected to reach over USD 225 billion by 2032, according to the latest research report by Global Market Insights Inc.

The rise in the number of new construction projects, the mounting need for improved infrastructure, and the development of housing innovations in North America are forecasted to propel overall market expansion. For instance, in July 2022, United Rentals, the equipment retail behemoth, partnered with leading builder Turner Construction to provide sustainable solutions, including EVs and zero-emission power systems, and utilize rented machinery to reduce the environmental impact while constructing a hyperscale data center in Kansas City, Missouri, for Meta.

Industry leaders are actively developing the next generation of construction equipment, which will be significantly more productive, efficient, and environmentally friendly, ranging from alternative fuel vehicles to semi-autonomous excavators. Total computerization, 3D printing, self-driving robots, and green technologies are estimated to create massive growth potential for the construction equipment rental market. The growing number of rental firms that are serving construction companies to complete projects by offering high-tech machinery and competent labor is foreseen to support business progression by 2032.

Surge in construction and mining activities to favor the demand for earthmoving & road building equipment

The earthmoving & road building equipment segment held over 60% share of the construction equipment rental industry in 2022. Widespread use of earth-moving and road-building equipment components for the numerous ongoing construction and mining activities promoted by increasing capital expenditure on infrastructure is likely to boost sector growth.

Browse key industry insights spread across 250 pages with 219 market data tables and 36 figures & charts from the report, “Construction Equipment Rental Market Size By Product (Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment], Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, Bulk Material Handling Equipment], Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, Batching Plants]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/construction-equipment-rental-market

Massive government investments for infrastructure development in Asia Pacific region

The APAC construction equipment rental industry is poised to exhibit more than 5% CAGR during 2023 to 2032. This development is bolstered by robust expenditure on economic infrastructure projects. Additionally, the growing need for concrete machinery, notably in India, resulting from increasing government efforts to develop advanced infrastructure facilities is likely to fuel regional market revenue.

Soaring prominence of sustainability to define the competitive landscape

Some prominent construction equipment rental market companies are Caterpillar Inc., Boels Rental, Loxam Group, H&E Equipment Services, Aktio Corporation, Hinkel Equipment Rental Associates, and United Rentals, Inc., among others. To retain a competitive edge in the sector, these firms are investing in R&D for new technology and partnerships. In May 2022, industry leaders GIKEN LTD. and AKTIO Corporation inked a rental business agreement, which enabled GIKEN to leverage AKTIO's extensive network to expedite the development of new customers and create a supply structure of press-in machinery to meet the increased demand.