Construction Equipment Rental Industry Overview
Portland, OR -- (SBWIRE) -- 08/04/2017 -- Leasing a heavy machinery for construction activities has proved to be beneficial over past few years, due to reduced paperwork, lower expenses, and low maintenance associated with these products. Consequently, many startups have focused on renting-out equipment to companies operating in the construction industry Rental equipment not only saves time but also hidden costs involved while buying the equipment such as shipping, labor, and surface area costs (as per the fleet size). Thus, financial, operational, and logistical benefits associated with rented products are anticipated to impact the market revenue.
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Furthermore, the global construction equipment rental industry is fueled by the propelled demands for sophisticated products and excellent customer service. However, rise in auxiliary expenses could limit the industry growth.
However, natural gas drilling activities in developed countries and increase in construction activities in developing economies have opened new avenues in the market. In addition, supportive government policies and technological advancements in development of new construction equipment models are expected to create new opportunities in the industry.
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The global construction equipment rental industry is segmented on the basis of product type and geography. By product type, the market is further categorized into earthmoving machinery, material handling machinery, and road & concrete construction machinery. Geographically, it is analyzed across Europe, North America, Latin America, Asia-Pacific, and Middle East & Africa.
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Some of the key vendors profiled in the report include United Rentals, Sunbelt, Neff Rentals, AB2000 Limited, Ahern Equipment Rental, Caterpillar Incorporated, Gemin Equipment and Rentals (GEAR), Hertz Equipment, and John Deere.