Construction Equipment Rental Market Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2026

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Construction Equipment Rental Market Study by
Regional Outlook and Competitive Landscape to 2026

• Increasing investments by the private sector
  towards the development of new infrastructure
  will enhance the construction equipment rental
  industry outlook through the coming years.
  Several government authorities are working
  towards providing funds for the refurbishing and
  maintenance of the existing public
  establishments. As per reports, the global
  construction equipment rental market size will
  reach a yearly valuation of more than USD 155
  billion by 2026.
• Equipment manufacturers, including Caterpillar,
  Inc., and Volvo Group are consistently offering
  construction equipment rental services to cater
  to the rising needs of the customers. Also, the
  influx of construction equipment rental software
  deployed with technologies like IoT, Digital
  Twins, and telematics is helping these rental
  providers to manage records pertaining to
  equipment usage and reduce downtime.

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• The industry share from the material handling
  cranes segment is anticipated to reach a
  substantial level in the next few years. This can
  be attributed to the robust economic development
  across the globe that has led to a higher need
  for material movement. The rising concern towards
  safety in working environments across industrial
  facilities besides the expansion of verticals
  like wireless technologies, robotics, and
  flexible electronics will drive the adoption of
  rented concrete equipment cranes.

• The rise in consumer awareness related to
  vehicular emissions has pushed the construction
  firms and their contractors to take up efforts to
  reduce their carbon footprint. This has resulted
  in increased adoption of electric construction
  equipment.

• Furthermore, severe laws regarding labor safety
  have been implemented across various nations like
  Germany, France, and the U.K. The prominent
  presence of some of the leading construction OEMs
  like Liebherr Group and Volvo will drive the
  formation of various construction equipment
  rental associations in the continent.

• The construction equipment rental companies are
  focused on RD investments to enhance their
  rental portfolio with advanced equipment to meet
  the surging client requirements. For instance,
  Boels Rental inked an investment of close to USD
  35 million in 2019, to upgrade its construction
  equipment rental fleet with novel JCB machines
  that are deployed with telematics technology.

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• Regional Analysis

• Europe is a hub for numerous construction
  equipment rental businesses and the regional
  industry could observe an exponential CAGR
  through 2026. This can be owed to the growing
  efforts undertaken by the European Union (EU)
  towards the development of smart cities in the
  region. To elaborate, the EU is in the process to
  establish over 300 smart cities across Europe by
  the end of 2021.

• Competitive Analysis

• United Rentals, Inc., Mtandt Rentals Limited,
  Unirent LLC, Aktio Corporation, Ahern Rentals,
  Inc., and Caterpillar Inc. are some of the other
  participants in the industry. These firms are
  also keen on marketing strategies like mergers,
  partnerships, and acquisitions to expand their
  global presence and sustain competition. For
  instance, Able Equipment Rental, in December
  2020, acquired the equipment assets as well as
  service operations of New Jersey-based GAR
  Equipment.

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