Construction equipment rental market growth is driven by increase in construction & mining activities in developing nations of Latin America and Africa regions.
PORTLAND, OR, UNITED STATES, September 19, 2021 /EINPresswire.com/ — The report analyzes the global construction equipment rental market on the basis of application, product, propulsion system, and region. The growth of the global market is driven by surge in infrastructural construction activities in developing nations. In addition, rental services save end users from investing a large amount in buying the equipment, thereby overcoming the financial constraints.
The global construction equipment rental market size was $91.0 billion in 2019, and is expected to reach $106.4 billion by 2027, registering a CAGR of 4.2% from 2020 to 2027.
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In addition, end users does not have to bear the maintenance and operating cost of equipment, which significantly contributes toward the growth of the global market. Moreover, issues of finding and hiring skilled equipment operators is resolved at the user’s end, as rental company deals with such problems. However, lack of skilled labors acts as a key restraint for the growth of rental companies.
The report provides an extensive analysis of the current and emerging construction equipment rental market trends and dynamics.
In-depth construction equipment rental market analysis is conducted by estimations for the key segments between 2020 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
The construction equipment rental market forecast analysis from 2020 to 2027 is included in the report.
Top 10 Key Market Players
H&E Equipment Services
Herc Rentals Inc.
Kanamoto Co., Ltd.
Nesco Holdings, Inc.
Maxim Crane Works, L.P.
United Rentals, Inc.
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Key Market Segments
Excavation & Mining
Backhoes & Excavators
By Propulsion System
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Source: EIN Presswire