Persistence Market Research has announced the addition of the “Construction Equipment Rental Market: Global Industry Analysis and Opportunity Assessment, 2017-2025"report to their offering
New York, NY -- (SBWIRE) -- 02/14/2018 -- The practice of leasing heavy machinery construction equipment instead of purchasing it has proven to be beneficial for all sizes of companies across the world. This has resulted in robust growth of the construction equipment rental market. Major growth is observed in sectors such as transport, housing, energy and power, which have large scale investments. With such high level of investments construction companies prefer to rent equipment so as to reduce their project costs. This is a cost effective approach as in doing so they face lower maintenance costs and fewer technical charges. Adding to that, transportation, operation and servicing requirements are reduced many folds. Both these factors fuel demand for the construction equipment rental market in the coming future.
The development of advanced machinery with ecofriendly features and low maintenance is expected to castaway conventional equipment in the forecast period. Purchasing construction equipment requires heavy down payments that divert a large amount of capital from key operating expenses. It also attracts additional expenditure such as tax, insurance, licensing, interest on loan amount and storage cost, among others. By opting to rent construction equipment, companies evade the costs associated with depreciation and inflation while replacing it. Such problems are easily overcome by renting the construction equipment instead. Rental houses upgrade their inventories on a regular basis, hence offering access to new and advanced construction equipment; hence making it easier for the leaser to act in accordance with EPA (Environment Protection Agency) standards.
Request Sample Report @ https://www.persistencemarketresearch.com/samples/13024
Construction Equipment Rental Market: Drivers and restraints
Developments in the infrastructure sector, clubbed with a varied range of advanced construction equipment in rental fleets are expected to drive demand for the construction equipment rentals market. Companies in the construction equipment rental market are skilful in identifying customers; they relocate construction equipment to different locations to monopolize on increasing demand from real estate industries in commercial and residential sectors. Strict regulations, increasing ownership cost and financial constraints are some of the key reasons fueling the construction equipment rental market.
On the other hand, fluctuating fuel prices and expenditure of picking up and delivering machinery, especially if the contractor is working in remote areas, is expected to obstruct demand in the construction equipment rental market over the forecast period.
Request to Browse Full Table of Content, figure and Tables @ https://www.persistencemarketresearch.com/toc/13024
Construction Equipment Rental Market: players
Some examples of recognized players in the construction equipment rental market are listed below:
Industrial Supplies Development Co. Ltd
Ahern Equipment Rentals
Gemini Equipment and Rentals (GEAR)
Maxim Crane Works