Construction Equipment Rental Market size worth $75bn by 2024

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Construction Equipment Rental Market Size,
Industry Share Forecast, 2016 2024
Construction Equipment Rental Market size worth
75bn by 2024
2
Global Market Scenario of Construction Equipment
Rental Industry

• Construction Equipment Rental Market size is
  expected to reach USD 75.18 billion by 2024
  according to a new research report by Global
  Market Insights, Inc.
• The practice of leasing instead of purchasing
  heavy machinery has proven to be beneficial for
  companies of all sizes across numerous
  industries. Lower administrative overhead coupled
  with reduces expense and maintenance will drive
  construction equipment rental market size.
• Since industry vendors need to comply with the
  pervasive regulatory landscape, buyers benefit
  from elimination of replacement costs and
  associated expenditure. Other trends positively
  impacting revenue include growing technological
  advancements ranging from multifunctional
  machinery to apps for monitoring fuel
  consumption.
• Key product development and innovation features
  include remote monitoring, ergonomic controls,
  quick-change attachment couplers, etc.
  GPS-equipped machines that can be tracked with
  ease on site have significantly improved fleet
  management.
• The presence of the leasing channel has also
  helped enhance overall customer service by
  ensuring high product quality, improved response
  time, on-time delivery, scheduled pick-ups, etc.

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Continue.....

• The industry is characterized by increasing
  natural gas drilling activities coupled with
  augmentation of the highway network and formation
  of smart cities. This will lead to a
  corresponding demand in the construction
  equipment market, and also give impetus to the
  rental sector.
• The real estate industry that comprises
  commercial and residential real estate has also
  driven construction equipment rental market size.
  Developing technology with greater efficiency and
  accuracy in material handling has placed high
  emphasis on safety and productivity at the
  workplace for instance, the development of
  automatic height-adjusting carts which has
  enabled the operators to work at optimal heights
  without aids from hydraulic, electrical or
  pneumatic tools. This has benefitted the material
  handling machinery industry to a considerable
  extent.
• Rising population and growing urbanization along
  with increasing income levels and growth in IT/
  ITeS sector will propel India construction
  equipment rental market share.
• Get more details _at_
  http//bit.ly/2dkwrtJ

4
U.S. Construction Equipment Rental Market size,
by product, 2013-2024 (USD Billion)
Get Sample Report Copy_at_ http//bit.ly/2dLM9Kf
5
360 Analysis

• Application Analysis
• Earthmoving Machinery Market contributed
  considerably to the global construction equipment
  rental market share in 2015, with the segment set
  to surpass USD 40 billion in revenue by 2024.
  This mainly includes products such as excavators
  and loaders, which witness considerable demand on
  a global scale.
• Concrete and road construction segment was valued
  at over USD 10 billion in 2015, the industry is
  forecast to witness growth due to new
  infrastructure projects.
• Increasing affinity by end-users in order to
  obtain earthmoving machinery on rent or lease is
  an emerging trend in the construction equipment
  rental market.

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• Regional Analysis
• U.S. construction equipment rental market size is
  set to exceed USD 23 billion by 2024. Rising
  safety and security concerns are likely to drive
  installation of smart sensors in workers hard
  hats, boots, wristwatches and other safety
  equipment such as rooftop harnesses. Boot sensors
  helps in tracking the time duration between
  breaks, whereas wristwatch sensors monitor
  workers body temperature.
• China construction equipment rental market size
  was valued at USD 3 billion in 2015. Regional
  growth can be attributed to commercialization,
  rapid urbanization, burgeoning population,
  increasing government initiatives, and robust
  fiscal growth.
• Germany construction equipment rental market
  share will grow at over 6.5 CAGR.

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• Competitive Market Share
• Key construction equipment rental market players
  are United. Rentals, Hertz, Neff, Sunbelt, Ahern,
  etc. United Rentals acquired RSC Holdings in 2012
  to accelerate the combined companys potential
  for growth with industrial customers and provide
  a lower cost base. Hertz entered into a joint
  venture with Dayim Holdings and Phoenix Project
  development in 2014 to improve the overall
  service offering.
• Other notable participants are Gemini Equipment
  and Rentals (GEAR), Aggreko, Terex Corporation,
  Maxim Crane Works, Komatsu, Liebherr and Weldex
  International Offshore Ltd.
• Suppliers offer autonomous and semi-autonomous
  machines to suited for the target application,
  which further improves the performance and helps
  reduce energy consumption.
• Request for sample
  report_at_ http//bit.ly/2dLM9Kf

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