The global Construction Equipment Rental Market was valued at $189.8Billion in 2017 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2025 global sales of $245.64Billion.
Constructions Equipment rental, known as providing a lease of machinery equipment & all kind of tools for a certain period of time for final users mainly to constructions, heavy industries, builders & contractors.Earthmoving equipment is one of the major items demands for rental as the upfront cost of purchasing is high. Even some rental companies have a strategic collaboration with a leading manufacturer like Caterpillar, Volvo and Hitachi and managing every aspect of the value chain. Rental plans are not only cost-effective to end users but also profitable to all parties associated in the value chain.
Positive points for rental of Equipment
- No need for paying Equipment.
- No requirement of maintenance cost.
- No need for transportation cost.
- No need for balance sheet liability.
- Companies carry the risk if the equipment breakdown.
“Optimal Price Point (OPP) for Construction Equipment rental”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the China Rental Equipment materialsare available at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Global Construction Equipment Rental “by Product Categories”
We have segmented the Construction Equipment Rental based on Product categories as
- Material Handling
- Concrete & Road Construction
Earthmoving equipment: Earthmoving are used for excavating & moving large quantities of earth or they are specially designed for construction works & earthwork operations like Excavators, bulldozer, Motor graders, track loaders, wheel excavators.
Material handling equipment:The equipment which relates to the movement, protection & control of materials, goods through the mechanism of consumption, manufacturing, disposal like Forklifts, Telescopic handlers, Boom lifts, scissor lifts.
Concrete & Road constructions: The equipment’ which are used for the work of new road, flyover, bridges, minor road repairing, highways like Dumpers, tankers, trailers, tippers, compacter rollers, portable crushers, pumps, pavers.
Asia Pacific accounted for the maximum revenue share of over xx% in 2017 due to increased demand of Construction Equipmentrental market followed by EU- Top 5 countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
The key regions analyzed in the study include North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. In 2017, Asia Pacific held the largest share for rental construction equipment market due to the demand for infrastructure, housing, development. The AsiaPacificis expected to have the highest growth due toChina& this would be followed by Europe.
Expanding bridges, roads, infrastructure with the increasing populations generates a demand for construction equipment. We are observing that rental construction equipment is a good option as it can create a good impact for construction, & residential sectors.
“Competitive Landscape”and“Merger & Acquisition Insights”
The key market participants include Caterpillars (US),Komatshu Ltd, Hitachi, Volvo, Terex, John Deere, Sany, XCMG are few major players in Construction equipment rental market.Construction equipment rentalmarket is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation& new product development are a major focus area for dominant companies.
Global Construction Equipment Rental Market byproduct Categories(Revenue, Million, 2014 – 2025)
- Material Handling
- Concrete & Road constructions
Global Construction Equipment rental materials Market Regional Outlook (Revenue, USD Million, 2014- 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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