Heavy Construction Equipment Rental Market Thumbnail Image

2022

Heavy Construction Equipment Rental Market

Heavy Construction Equipment Rental Market Size, Share, Competitive Landscape and Trend Analysis Report, by Equipment, by End User, by Application : Global Opportunity Analysis and Industry Forecast, 2020-2030

CM : Engineering, Equipment and Machinery

Select an option
Author's: Digvijay Subhash Pawar | Sonia Mutreja
Publish Date:

Get Sample to Email

Heavy Construction Equipment Rental Market Research, 2030

The Global Heavy Construction Equipment Rental Market Size was valued at $76.4 billion in 2020, and is projected to reach $117.8 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030. For heavy activities such as material handling, excavation, lifting, and other heavy operations, heavy construction equipment or machineries are employed. Heavy construction equipment rental is a service that allows end users to rent construction equipment for a certain length of time by signing contracts that include use terms and conditions.

Construction equipment is mostly used to aid heavy activities at construction mining sites. Despite the fact that there are various types of heavy construction equipment on the market, choosing the right one is crucial. Companies evaluate aspects such as the material, quality, project complexity, and safety when selecting heavy construction equipment.

Heavy Construction Equipment Rental Market, Heavy Construction Equipment Rental Industry, Heavy Construction Equipment Rental Market Size, Heavy Construction Equipment Rental Market Share, Heavy Construction Equipment Rental Market Growth, Heavy Construction Equipment Rental Market Trends, Heavy Construction Equipment Rental Market Analysis, Heavy Construction Equipment Rental Market Forecast, Heavy Construction Equipment Rental Market opportunities

Market Dynamics

The growth of the heavy construction equipment rental market is driven by increased construction and mining activity in developing countries such as Latin America and Africa. The U.S. government has invested heavily in building roads, railroad tracks, airports, and other infrastructure that require the use of excavators, loaders, and other heavy equipment. For example, in March 2021, the U.S. President announced a $ 2 trillion infrastructure plan that includes transportation, broadband, power grids, residential and commercial buildings that will create immense opportunities for rental market. In addition, additional costs for equipment maintenance, excessive operating costs, and high wages for skilled workers can be saved by renting equipment for the required period, which will greatly contribute to the growth of the global market. In addition, equipment purchases and high initial investments in economic bottlenecks can be avoided by choosing equipment rentals, thereby driving heavy construction equipment rental market growth.

The lack of a skilled workforce is a major restraining factor the global heavy construction equipment rental market. In addition, the saturation of construction and mining in developed countries is another factor impeding market growth.

Heavy Construction Equipment Rental Market by Equipment

Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of heavy construction equipment rental as well as their demand in the market, thereby restraining the growth of the heavy construction equipment rental industry. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of heavy construction equipment rental companies at their full-scale capacities, which helped the market to recover by end of 2021.

Heavy Construction Equipment Rental Market by End User

The heavy construction equipment rental market is segmented into Equipment, End User and Application. By equipment, the market is classified into earthmoving equipment, material handling equipment, heavy construction vehicles, and others. By end user, it is classified as infrastructure, construction, mining, oil & gas, manufacturing, and others. By application, ithe market is categorized into excavation & demolition, heavy lifting, tunneling, material handling, and recycling & waste management. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).. In 2020, Asia-Pacific was the highest contributor to the global heavy construction equipment rental market share, and LAMEA is anticipated to secure a leading position during the forecast period.

Heavy Construction Equipment Rental Market by Application

On the basis of equipment, in 2020, the earthmoving equipment segment dominated the market, in terms of revenue, whereas the others segment is expected to witness growth at the highest CAGR during the forecast period. As per end user, in 2020, the construction segment led the heavy construction equipment rental market, however, the others segment is expected to exhibit highest CAGR in the near future. By application, the excavation & demolition segment led the market in 2020, in terms of revenue; however, the material handling segment is anticipated to register highest CAGR during the forecast period. Region wise, North America garnered the highest revenue in 2020; however, LAMEA is anticipated to register highest CAGR during the forecast period.

Heavy Construction Equipment Rental Market by Region

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the heavy construction equipment rental market analysis from 2020 to 2030.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the heavy construction equipment rental market forecast segmentation assists to determine the prevailing heavy construction equipment rental market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global heavy construction equipment rental market trends, key players, market segments, application areas, and market growth strategies.

Heavy Construction Equipment Rental Market Report Highlights

Aspects Details
icon_5
By Equipment
  • Earthmoving Equipment
  • Material Handling Equipment
  • Heavy Construction Vehicles
  • Others
icon_6
By End User
  • Infrastructure
  • Construction
  • Mining
  • Oil & Gas
  • Manufacturing
  • Others
icon_7
By Application
  • Excavation & Demolition
  • Heavy Lifting
  • Tunneling
  • Material Handling
  • Recycling & Waste Management
icon_8
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, U.K., Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, India, Rest of Europe)
  • LAMEA  (Latin America, Middle East, Africa)
icon_9
Key Market Players

H&E Equipment Services, Herc Rentals Inc., Sarens n.v./s.a., Haulotte Group, Kanamoto Co., Ltd., Boels Rental, Ashtead Group plc. (Sunbelt Rentals Ltd), United Rentals, Inc., Loxam (Ramirent), Sumitomo Corporation (Sunstate Equipment Company)

Analyst Review

Various heavy construction equipment rental companies are acquiring other companies and increasing their presence in different locations. This helps in strengthening their business. Material handling, excavation, lifting, and other heavy tasks are all common uses for heavy construction equipment rental. Heavy construction equipment is commonly utilized to aid heavy activities on mining sites. Expansion of the heavy construction equipment rental industry is fueled by increase in building and mining operations in emerging economies of Latin America and Africa. For instance, U.S. president Trump announced a $2 trillion infrastructure plan in March 2021, which covers roads, telecommunications, electric grid, and residential & commercial buildings. These elements create immense opportunities for the rental market. Furthermore, significant initial expenditure necessary to purchase equipment, as well as financial restraints, may be avoided by renting equipment, which boost the market growth. The market growth is hampered by lack of trained workers and saturation in the building and mining industries in developed countries. Construction work was halted, owing to the COVID-19 lockdown, which had an indirect impact on the heavy construction equipment rental market. Furthermore, manufacturers are producing modern equipment that are both cost-effective and long-lasting and the integration of IoT is expected to aid in overcoming scarcity of trained personnel and improving operators with end-user safety. During the forecast period, these aspects are expected to provide lucrative opportunities for the market.

Author Name(s) : Digvijay Subhash Pawar | Sonia Mutreja
Frequently Asked Questions?

The global heavy construction equipment rental market was valued at $76,371.9 million in 2020, and is projected to reach $117,788.8 million by 2030, registering a CAGR of 4.3% from 2021 to 2030.

The forecast period considered for the global heavy construction equipment rental market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.

To get latest version of global heavy construction equipment rental market report can be obtained on demand from the website.

The base year considered in the global heavy construction equipment rental market report is 2020.

The top companies holding the market share in the global heavy construction equipment rental market report include Ashtead Group plc. (Sunbelt Rentals Ltd), Boels Rental, H&E Equipment Services, Haulotte Group, Herc Rentals Inc., Kanamoto Co., Ltd., Loxam (Ramirent), Sarens n.v./s.a., Sumitomo Corporation (Sunstate Equipment Company) and United Rentals, Inc.

The top ten market players are selected based on two key attributes - competitive strength and market positioning.

The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.

Loading Table Of Content...

Individual sections of the reports are available for purchase.
Would you like to see a breakdown of prices by section?

Heavy Construction Equipment Rental Market

Global Opportunity Analysis and Industry Forecast, 2020-2030