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Apr 09, 2020 Xherald -- Market Study Report adds 2020-2026 Global Construction Equipment Rental report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.
Global construction equipment rental market size is slated to experience dramatic growth over the next few years. This can be mainly associated with shifting preference of building & construction companies towards renting construction equipment rather than purchasing. Renting is emerging to become a more viable option for many companies, allowing them to run a more financially stable infrastructure business.
Major players operating in the construction equipment rental market include Caterpillar Inc, Ahern Rentals, Inc, AJ Networks Co., Ltd., Aktio Corporation, Ashtead Group, Boels Rental, Cramo PLC, Fortrent, H&E Equipment Services, Hinkel Equipment Rental Associates.
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Construction equipment rental helps them cut repair, maintenance, and transportation costs. Escalating building & construction as well as infrastructure development projects worldwide will augment construction equipment rental market share. Growing focus on smart city development will further bolster the industry outlook.
Smart city plans are garnering momentum in Middle East and Africa on account of rapidly rising rates of urbanization. MEA's urban population has increased from 20% in 1960 to more than 45% in 2015, according to the United Nations (UN). The year 2019 has witnessed tremendous acceleration in the region's smart city ambitions with a number of new initiatives and programs launched throughout the year.
Based on the product, construction equipment rental industry is segmented into earthmoving & roadbuilding equipment, material handling & cranes, and concrete equipment. The earthmoving & roadbuilding equipment product segment is further classified into backhoes, loaders, excavators, compaction equipment, and others. The segment accounts for more than 50% revenue share in global construction equipment market.
Backhoes, loaders, and excavators are extremely versatile when it comes to construction applications. These machines offer a range of different attachment options, making them capable for accomplishing a wide range of tasks. Additionally, earthmoving & roadbuilding equipment can be easily driven on roads which makes them a suitable choice for infrastructure projects with spread out worksites.
In terms of the regional landscape, Middle East & Africa (MEA) construction rental equipment industry will record a CAGR of more than 2% through 2026. This can be growing focus on surging government investments in smart city development projects. City planners worldwide are busy designing smart city projects and the MEA region is anticipated to host some of the most sophisticated smart cities in the world.
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Different countries in MEA are expected to deploy different smart city development solutions. For instance, African cities are expected to focus more on the development of transportation and utilities infrastructure. On the other hand, some of the more sophisticated countries like Saudi Arabia and Israel will likely focus heavily on improving the efficiency of public services. The aforementioned trends will certainly fuel construction equipment rental demand across MEA in the near future.
Table of Content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Industry Insights
Chapter 4. Construction Equipment Rental Market, By Product
Chapter 5. Construction Equipment Rental Market, By Region
Chapter 6. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/construction-equipment-rental-market
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COMTEX_364348577/2649/2020-04-09T02:13:53
The MarketWatch News Department was not involved in the creation of the content.
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