Construction Equipment Rental Market Dynamics – Construction Equipment Rental Market is valued at USD 117.24 Billion in 2018 and expected to reach USD 162.23 Billion by 2025 with the CAGR of 4.75% over the forecast period.
Increasing development in the construction and mining activities, mostly in the developing countries, rising capital investments in transportation, hospitality and infrastructure with easy availability of machinery are the key factors driving the market for construction equipment rental market. According to the FMI, 2% increases (USD44 billion) in U.S. healthcare construction spending in 2019.In addition, the number of highway constructions, metro construction, Special Economic Zones ,hydroelectric projects, airports, dams in order to sustain better connectivity, high-level industrial activities and due energy demand fuelling the market in forecast peried. According to statista report, the global construction equipment is expected to increase to around 132.6 billion U.S. dollars by 2026. Moreover, rise in investment in the global construction sector, specifically in the residential and commercial sector, growing population and urbanization, has led to a boost in the construction equipment rental market in forecast period. According to the Our World in Data, more than 4 billion people live in urban areas across the globe.
Caterpillar acquired Yard Club, a marketplace for construction equipment
News: May 6, 2017 – Caterpillar announced acquisition with Yard Club. It is an online rental platform that helps constructors to find and book equipments for rental. After this strategic investment, Yard Club began working with the dealers in the Caterpillar network and helping them to rent as well as sell equipment to contractors and construction crews.
Construction Equipment Rental Market Regional Analysis –
Asia pacific is expected to dominate the construction equipment rental market with the highest share over the forecast period due to the increase in construction industries, rising population and urbanization, along with growth in the IT sector, increasing demand from commercial landscapers, presence of manufactures with minimizes labor cost for production and availability of effective infrastructure in emerging countries, such as China and India. According to IBEF report, Several Indian firms are entering into tie-ups for equipment rental & leasing business, For example, tie-up between SREI Infrastructure and BNP Paribas. This is expected to drive sales of construction equipment in future. For example, Laxyo Energy Ltd. is continuously aiming to be India's largest service providing company in renting/leasing of Construction equipments, specialized in various class of machinery. It provides construction equipment on rent at cost effective prices for a flexible length of time. These rental equipments are widely used for different kinds of building construction and repair.
Liebherr Group established in 1949 and headquarter in Biberach
Specialties in Earth Moving Technologies, Domestic Appliances, Tower & Mobile Cranes, Port Equipment, Aerospace & Transportation, Mixing Technology, Commercial Refrigeration & Freezing, Mining Equipment, Material Handling Equipment, Components, Machine tools, Hotels, and Maritime Cranes
Liebherr Group today is a leading manufacturer of construction and mining equipment, but also supplies innovative user-oriented products and services in many other fields.
News: KurthAutokrane has decided on a genuine specialist – the Liebherr LTC 1050-3.1 compact crane is perfect for difficult jobs in constricted areas. The company ordered the 50 tonne crane with functional equipment to ensure particularly high safety and efficiency. This includes the advanced RemoteDrive controller, which can be used to control the crane undercarriage, the first of its kind on a mobile crane.
Battlefield Equipment Rentals Established in 1977 and headquarter in Stoney Creek, Ontario
Specialties in Construction Equipment Rentals, New & Used Equipment Sales, Caterpillar Compact Equipment, Building Products & Safety Supplies, and Safety Training Programs
Battlefield Equipment Rentals has a network of 68 branches across Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, including its head office facility in Stoney Creek, Ontario. Battlefield Equipment Rentals sells over 300 brand name products and is the authorized distributor for such brands as Caterpillar, Spectra Precision / Trimble, Wacker Neuson, Stihl, Honda, SkyJack, Genie, Husqvarna, Atlas Copco, Bosch, Gorman-Rupp, as well as many others.
JCB established in 1945 and headquarter in Rocester, Staffordshire
Specialties in Construction Equipment Manufacturing
JCB is one of the largest privately owned engineering and manufacturing companies in the UK and the World's third largest manufacturer of construction machinery. With a global presence and manufacturing facilities on 4 continents, we employ over 15,000 people worldwide and produce over 300 different products.
John Deere established in 1837 and headquarter in Moline, IL
Specialties in Agriculture, Construction, Forestry, Turf Care, Golf, and Technology
John Deere a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction — those who cultivate, harvest, transform, enrich and build upon the land to meet the world's increasing need for food, fuel, shelter and infrastructure.
Key Benefits for Construction Equipment Rental Market Reports –
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26 Feb 2021