Construction Equipment Rental Market 2021 - Business Strategies, Key Regions and Segment Outlook to 2027

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Construction Equipment Rental Market -
Opportunities and Trends Analysis by Regional
Players to 2027

• The construction equipment rental market is
  forecast to expand exponentially owing to soaring
  public expenditure for infrastructure development
  projects, especially in developed economies,
  including the U.S., UK, and others.
• As per the U.S. Council for Foreign Relations, in
  March 2021, the government approved a US2
  trillion infrastructure plan, which includes an
  unprecedented investment of US600 billion for
  the upgradation of physical infrastructures, such
  as airports, railways, and roads bridges, among
  others. The execution of such massive and
  long-term infrastructure expansion projects is
  likely to augment the construction equipment
  rental business to a large extent. According to
  the latest industry report by Global Market
  Insights, Inc., global construction equipment
  rental market size is pegged to cross the US150
  billion mark by 2027.

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• Construction equipment rental industry share from
  the segment of material handling cranes is
  expected to grow at a remarkable pace on account
  of escalating demand for loading, unloading, and
  lifting materials at the construction sites.
  Stringent labor laws are pushing employers to
  provide a safe working environment for workers,
  driving the deployment of lifting and material
  handling equipment and across industrial sites.

• In an effort to ensure enhanced safety of heavy
  construction equipment operators and maximize the
  output, numerous construction companies are
  increasingly incorporating advanced technologies
  such as safe load indicators, angle sensors, and
  anti-collision devices.

• Moreover, as per the European Construction
  Industry Federation (FIEC), the total
  construction expenditure across the EU27
  countries was recorded around 1,324 billion in
  2019, representing 9.5 of its GDP. A substantial
  rise in construction activities owing to the
  accelerating urban population, and rising number
  of immigrants, is projected to drive the adoption
  of advanced construction equipment across
  European countries.

• However, the recommencement of industrial and
  construction activities owing to the roll out of
  ambitious vaccination drives and the resulting
  drop in overall coronavirus cases, is likely to
  give a steady pace of revival to the construction
  equipment rental industry.

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• Regional Analysis

• From a regional reference frame, Europe is slated
  to make a remarkable contribution to the global
  construction equipment rental industry owing to
  soaring government expenditure for the
  development of smart city infrastructures. In
  fact back in 2019 itself, the European
  Commission, as part of its extensive Horizon 2020
  Program, had allocated nearly US94 million for
  the development of smart cities and communities.

• Competitive Analysis

• Mtandt Rentals Limited, Caterpillar Inc., Ashtead
  Group, United Rentals LLC, Aktio Corporation, AI
  Faris Group, Ahern Rentals, Inc., Loxam Group,
  and Boels Rental are some notable global
  construction equipment rental companies.

• These construction equipment manufacturers are
  eyeing strategic alliances and partnerships to
  expand their product portfolio and also increase
  their investment towards upgrading their existing
  rental fleet to meet the changing consumer
  demand. For instance, in June 2021, AI Faris
  Group, one of the leading industry players in the
  Middle East region, integrated Liebherr mobile
  cranes with lifting capacities ranging between
  110 tons and 500 tons. The company also added
  Liebherr LR 1500, a crawler crane, in its
  construction equipment rental fleet.

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