MarkNtel Advisors recently stated that the Global Construction Equipment Rental Market is assessed to grow at a CAGR of around 5.8% during the forecast period, i.e., 2024-30. The industry is experiencing a tremendous demand given the substantial lift in government spending on public infrastructure development, which has stimulated construction & mining activities across developing countries worldwide. Subsequently, this escalation in the prices of new machinery is encouraging contractors and other stakeholders to resort to the alternative of rental process.

Moreover, several market players have already cemented their position in the Global Construction Equipment Rental Market. Some of them are Caterpillar Inc., United Rentals, Inc., Sennebogen, Komatsu Ltd., CNH Industrial N.V., Loxam, Zoomlion Heavy Industry Science and Technology Co., Ltd., Herc Rentals Inc., H&E Equipment Service, Nishio Rent All Co. Ltd., Nikken Corporation, Sunbelt, Taiyokenki Rental Co., Ltd., Ramirent Plc., AKTIO Corporation and Others. These companies retain a noteworthy market share and are preferred by several consumers to rent construction equipment.

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Analyzing the Diverse Segmentation of the Global Construction Equipment Rental Market

·         By Equipment Type (Earthmoving Equipment, Material Handling Equipment, Concrete and Road Construction, and Others)

·         By Product Type (Excavator, Loader, Grader, Bulldozer, Road Roller, Tipper, Forklifts, Cranes, Diesel Generator, Concrete Pumps, Concrete Mixers, and Others)

·         By Application (Residential, Commercial, and Industrial)

·         By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)

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The Commercial segment embraces a substantial share of the Global Construction Equipment Rental Market and is likely to continue leading in the coming years as well with a significant growth rate. The equipment manufacturers are likely to benefit from profitable prospects created by commercial properties through improved rental services & sales of their products. Moreover, with the implementation of infrastructure development plans by the governments of emerging countries globally, constancy within the construction equipment rental industry is anticipated owing to the governmental schemes deciding on for such services.

Asia-Pacific is expected to have a leading edge in the Construction Equipment Rental Market in the coming years. The region’s market growth is flourishing due to Asia-Pacific becoming a prominent market for infrastructure development and construction as governments focus on the expansion of their economies. Moreover, China is exhibiting tremendous growth in the construction equipment rental industry given the nation’s projection to lead the market due to the enormous opportunities for manufacturers of rented machinery. Also, the Chinese government’s extensive investments in public infrastructure and residential development projects replicate its reply to population growth developments, which are prominently boosting the global momentum of the market.

Rising Adoption of Rental Equipment in Numerous Industries is Expected to Drive Market Growth

The rising inclination of several industries, comprising contractors as well as many firms towards rental preferences rather than purchasing new machinery is driving the Global Construction Equipment Rental Market massively. The market is likely to be positively impacted by the impending threat of recession that is affecting this climate, with emerging predictions among business executives & economists that it may upsurge the demand for rented resources while directing companies away from exorbitant capital investments, such as buying or leasing their equipment.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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