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Construction Equipment Rental Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 125
  • SKU: IRTNTR41362
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The construction equipment rental market share is expected to increase by USD 28.86 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 5.12%.

This construction equipment rental market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers construction equipment rental market segmentations by product (ECRCE and MHE) and geography (North America, Europe, APAC, and South America). The construction equipment rental market report also offers information on several market vendors, including Caterpillar Inc., Cramo Plc, HERC HOLDINGS INC., Jungheinrich AG, KION GROUP AG, Komatsu Ltd., LOXAM SAS, Sarens Bestuur NV, Toyota Industries Corp., and United Rentals Inc. among others.

What will the Construction Equipment Rental Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Construction equipment rental market Size for the Forecast Period and Other Important Statistics

 

Construction Equipment Rental Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been an negative impact on the market growth during and post COVID-19 era. The increased investment in infrastructure is notably driving the construction equipment rental market growth, although factors such as brexit to impact end-user industries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the construction equipment rental industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Construction Equipment Rental Market Driver

The increased investment in infrastructure is one of the key factors driving the growth of the global construction equipment rental market. The demand for construction equipment rental is growing due to the increasing investment in infrastructure projects across the world. Moreover, governments across the world are investing significantly in the development of sports infrastructure and facilities. The 2020 Olympics to be held in Tokyo (Japan) and the 2022 FIFA World Cup to be held in Qatar are increasing the construction spending in the Asian and Middle Eastern regions. Olympics has an estimated budget of $12.6 billion, whereas the FIFA World Cup 2022 has a budget of $8-$10 billion. Qatar’s government is planning to build nine new stadiums and renovate three existing stadiums for the event. Thus, the spending on such capital-intensive projects and infrastructure development is expected to grow significantly in the next decade, which will augment the growth of the global construction equipment rental market during the forecast period.

Key Construction Equipment Rental Market Trend

The increase in the adoption of automation will fuel the global construction equipment rental market growth. The construction industry is experiencing automation renovation and the deployment of autonomous, self-driving machines to carry, dig, spread, or move materials under minimum supervision. Moreover, the popularity of automated guided vehicles (AGVs) is increasing due to the adaptability of this technology. AGVs determine the best possible route for the efficient movement of goods. However, traffic controllers are still responsible for task assignments and load movement requests for each AGV. Initially, the first AGVs were guided manually until computer-aided design (CAD) systems were introduced to guide these vehicles for the selection and optimization of the best route for a load of goods that needs to be delivered or collected. AGVs can help eliminate the trouble of adjusting physical barriers. They help make real-time routing decisions based on various environmental conditions and enable easy navigational adjustments and control. CAD-based software programs in AGVs route all available paths and provide proper locations for picking and unloading. Automation will further increase the market for rental equipment in the forecast years.

Key Construction Equipment Rental Market Challenge

The brexit to impact end-user industries is a major challenge for the global construction equipment rental market growth. Britain’s decision to separate from the EU came with a cost. While the negotiations for the post-Brexit scenario are still in process, there are uncertainties that have affected various industries and resulted in the delay of different investments in the UK and other parts of the EU. As the construction equipment rental market considers construction and agriculture as the key end-user industries, there could be several effects of Brexit on these industries. Moreover, due to the lack of funding, the need to find non-traditional funding sources is essential, and its importance will intensify as the Brexit process proceeds. However, the implementation of new migration laws after Brexit and the lack of funding from the EU may result in the unavailability of workers for housing and other large-scale construction projects, which affect the ability of the government to meet its housing targets. This would increase the cost of housing and construction, which will affect sales and reduce the profit margins of construction companies.

This construction equipment rental market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global construction equipment rental market as a part of the global construction machinery and heavy trucks market, within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the construction equipment rental market during the forecast period.

Who are the Major Construction Equipment Rental Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Caterpillar Inc.
  • Cramo Plc
  • HERC HOLDINGS INC.
  • Jungheinrich AG
  • KION GROUP AG
  • Komatsu Ltd.
  • LOXAM SAS
  • Sarens Bestuur NV
  • Toyota Industries Corp.
  • United Rentals Inc.

 

This statistical study of the construction equipment rental market encompasses successful business strategies deployed by the key vendors. The construction equipment rental market is fragmented and the vendors are deploying growth strategies such as distinguishing the products and service offerings through a clear and unique value proposition to compete in the market.

Product Insights and News

  • Caterpillar Inc. - The company offers earthmoving machines, excavators, skid steer loaders, backhoes, pavers and compactors, work tools and power generators equipment on rental basis for construction purpose.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The construction equipment rental market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Construction Equipment Rental Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the construction equipment rental market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global construction machinery and heavy trucks market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Construction Equipment Rental Market?

For more insights on the market share of various regions Request for a FREE sample now!

42% of the market’s growth will originate from North America during the forecast period. The US is the key market for construction equipment rental market in North America. Market growth in this region will be slower than the growth of the market in regions.

The increased investment in infrastructure will facilitate the construction equipment rental market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 caused disruption in the construction equipment rental market in North America owing to halt in construction activities due to mass lockdown imposed by governments of the region. Also, shortage of manpower and finances to keep construction project running. However, the lifting of lockdowns has let resuming of construction projects this will help the market to recover during the forecast.

What are the Revenue-generating Product Segments in the Construction Equipment Rental Market?

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The construction equipment rental market share growth by the ECRCE segment will be significant during the forecast period. The earthmoving equipment rental comprises mobile and power-propelled vehicles designed to carry, dig, spread, or move materials. These are usually used to excavate or move large amounts of earth, dig foundations, and landscape an area. The equipment under this segment includes excavators, loaders, dozers, and motor graders.  Such factors will drive the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the construction equipment rental market size and actionable market insights on post COVID-19 impact on each segment.

 

Construction Equipment Rental Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 5.12%

Market growth 2020-2024

$ 28.86 billion

Market structure

Fragmented

YoY growth (%)

5.01

Regional analysis

North America, Europe, APAC, and South America

Performing market contribution

North America at 42%

Key consumer countries

US, UK, Japan, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Caterpillar Inc., Cramo Plc, HERC HOLDINGS INC., Jungheinrich AG, KION GROUP AG, Komatsu Ltd., LOXAM SAS, Sarens Bestuur NV, Toyota Industries Corp., and United Rentals Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Construction Equipment Rental Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive construction equipment rental market growth during the next five years
  • Precise estimation of the construction equipment rental market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the construction equipment rental industry across North America, Europe, APAC, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of construction equipment rental market vendors

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Read More Read Less

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Construction machinery and heavy trucks

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2020 & 2025
      • 4.2 Bargaining power of buyers
        • Exhibit 09: Bargaining power of buyers
      • 4.3 Bargaining power of suppliers
        • Exhibit 10: Bargaining power of suppliers
      • 4.4 Threat of new entrants
        • Exhibit 11: Threat of new entrants
      • 4.5 Threat of substitutes
        • Exhibit 12: Threat of substitutes
      • 4.6 Threat of rivalry
        • Exhibit 13: Threat of rivalry
      • 4.7 Market condition
        • Exhibit 14: Market condition - Five forces 2020

      5 Market Segmentation by Product

      • 5.1 Market segments
        • Exhibit 15: Product - Market share 2020-2025 (%)
      • 5.2 Comparison by Product
        • Exhibit 16: Comparison by Product
      • 5.3 ECRCE - Market size and forecast 2020-2025
        • Exhibit 17: ECRCE - Market size and forecast 2020-2025 ($ million)
        • Exhibit 18: ECRCE - Year-over-year growth 2020-2025 (%)
      • 5.4 MHE - Market size and forecast 2020-2025
        • Exhibit 19: MHE - Market size and forecast 2020-2025 ($ million)
        • Exhibit 20: MHE - Year-over-year growth 2020-2025 (%)
      • 5.5 Market opportunity by Product
        • Exhibit 21: Market opportunity by Product

      6 Customer Landscape

      7 Geographic Landscape

      • 7.1 Geographic segmentation
        • Exhibit 23: Market share by geography 2020-2025 (%)
      • 7.2 Geographic comparison
        • Exhibit 24: Geographic comparison
      • 7.3 North America - Market size and forecast 2020-2025
        • Exhibit 25: North America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
      • 7.4 Europe - Market size and forecast 2020-2025
        • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ million)
        • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
      • 7.5 APAC - Market size and forecast 2020-2025
        • Exhibit 29: APAC - Market size and forecast 2020-2025 ($ million)
        • Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
      • 7.6 MEA - Market size and forecast 2020-2025
        • Exhibit 31: MEA - Market size and forecast 2020-2025 ($ million)
        • Exhibit 32: MEA - Year-over-year growth 2020-2025 (%)
      • 7.7 South America - Market size and forecast 2020-2025
        • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
      • 7.8 Key leading countries
        • Exhibit 35: Key leading countries
      • 7.9 Market opportunity by geography
        • Exhibit 36: Market opportunity by geography ($ million)

      8 Drivers, Challenges, and Trends

      • 8.1 Market drivers
        • 8.2 Market challenges
          • Exhibit 37: Impact of drivers and challenges
        • 8.3 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 38: Vendor landscape
            • 9.3 Landscape disruption
              • Exhibit 39: Landscape disruption
              • Exhibit 40: Industry risks

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 41: Vendors covered
            • 10.2 Market positioning of vendors
              • 10.3 Caterpillar Inc.
                • Exhibit 43: Caterpillar Inc. - Overview
                • Exhibit 44: Caterpillar Inc. - Business segments
                • Exhibit 45: Caterpillar Inc. - Key news
                • Exhibit 46: Caterpillar Inc. - Key offerings
                • Exhibit 47: Caterpillar Inc. - Segment focus
              • 10.4 Cramo Plc
                • Exhibit 48: Cramo Plc - Overview
                • Exhibit 49: Cramo Plc - Product and service
                • Exhibit 50: Cramo Plc - Key news
                • Exhibit 51: Cramo Plc - Key offerings
              • 10.5 Herc Rentals Inc.
                • Exhibit 52: Herc Rentals Inc. - Overview
                • Exhibit 53: Herc Rentals Inc. - Business segments
                • Exhibit 54: Herc Rentals Inc. - Key offerings
              • 10.6 Jungheinrich AG
                • Exhibit 55: Jungheinrich AG - Overview
                • Exhibit 56: Jungheinrich AG - Business segments
                • Exhibit 57: Jungheinrich AG - Key news
                • Exhibit 58: Jungheinrich AG - Key offerings
                • Exhibit 59: Jungheinrich AG - Segment focus
              • 10.7 KION GROUP AG
                • Exhibit 60: KION GROUP AG - Overview
                • Exhibit 61: KION GROUP AG - Business segments
                • Exhibit 62: KION GROUP AG - Key offerings
                • Exhibit 63: KION GROUP AG - Segment focus
              • 10.8 Komatsu Ltd.
                • Exhibit 64: Komatsu Ltd. - Overview
                • Exhibit 65: Komatsu Ltd. - Business segments
                • Exhibit 66: Komatsu Ltd. - Key offerings
                • Exhibit 67: Komatsu Ltd. - Segment focus
              • 10.9 Loxam
                • Exhibit 68: Loxam - Overview
                • Exhibit 69: Loxam - Product and service
                • Exhibit 70: Loxam - Key news
                • Exhibit 71: Loxam - Key offerings
              • 10.10 Sarens NV
                • Exhibit 72: Sarens NV - Overview
                • Exhibit 73: Sarens NV - Product and service
                • Exhibit 74: Sarens NV - Key news
                • Exhibit 75: Sarens NV - Key offerings
              • 10.11 Toyota Industries Corp.
                • Exhibit 76: Toyota Industries Corp. - Overview
                • Exhibit 77: Toyota Industries Corp. - Business segments
                • Exhibit 78: Toyota Industries Corp. - Key offerings
                • Exhibit 79: Toyota Industries Corp. - Segment focus
              • 10.12 United Rentals Inc.
                • Exhibit 80: United Rentals Inc. - Overview
                • Exhibit 81: United Rentals Inc. - Business segments
                • Exhibit 82: United Rentals Inc. - Key offerings
                • Exhibit 83: United Rentals Inc. - Segment focus

              11 Appendix

              • 11.1 Scope of the report
                • 11.2 Currency conversion rates for US$
                  • Exhibit 84: Currency conversion rates for US$
                • 11.3 Research methodology
                  • Exhibit 85: Research Methodology
                  • Exhibit 86: Validation techniques employed for market sizing
                  • Exhibit 87: Information sources
                • 11.4 List of abbreviations
                  • Exhibit 88: List of abbreviations

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                The construction equipment rental market growth will increase by $28.86 billion during 2020-2024.
                The construction equipment rental market is expected to grow at a CAGR of 5.12% during 2020-2024.
                Technavio has segmented the construction equipment rental market by product (ECRCE and MHE) and geographic (North America, Europe, APAC, South America, North America, Europe, APAC, and South America).
                Caterpillar Inc., Cramo Plc, HERC HOLDINGS INC., Jungheinrich AG, KION GROUP AG, Komatsu Ltd., LOXAM SAS, Sarens Bestuur NV, Toyota Industries Corp., United Rentals Inc. are a few of the key vendors in the construction equipment rental market.
                North America will register the highest growth rate of 42.14% among the other regions. Therefore, the construction equipment rental market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the construction equipment rental market growth are:
                • Increased investment in infrastructure
                • Increasing in adoption of automation
                The construction equipment rental market vendors should focus on grabbing business opportunities from the ecrce segment as it accounted for the largest market share in the base year.
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