Global Heavy Construction Machinery Rental Market Segments 2024, Forecast To 2033
5 Mar, 2024
The heavy construction machinery rental market has experienced strong growth, increasing from $53.4 billion in 2023 to $57.36 billion in 2024, with a 7.4% CAGR. Growth drivers include construction and infrastructure projects, cost-efficiency and flexibility, short-term project needs, maintenance and upkeep costs, and market volatility and economic conditions. Looking ahead, the market is expected to experience strong growth, reaching $75.83 billion in 2028 with a 7.2% CAGR. Factors contributing to this growth include infrastructure investments, sustainability and green initiatives, technological integration in machinery, market flexibility and adaptability, and global construction trends.
Global Heavy Construction Machinery Rental Market Key Driver
The heavy construction machinery rental market is set to grow with the increase in construction and mining activity. Global crude steel production reached 1,951 million metric tons in 2021, emphasizing the growth in mining activities. The Office for National Statistics reports a 12.7% rise in the output of construction activities in 2021, driving the demand for heavy construction machinery rental.
Get A Free Sample Of The Global Heavy Construction Machinery Rental Market ReportGlobal Heavy Construction Machinery Rental Market Segments
The heavy construction machinery rental market covered in this report is segmented –
1) By Equipment : Earthmoving Equipment , Material Handling Equipment , Heavy Construction Vehicles , Other Equipment
2) By Application : Excavation And Demolition , Heavy Lifting , Tunneling , Material Handling , Recycling And Waste Management
3) By End User : Infrastructure , Construction , Mining , Oil And Gas , Manufacturing , Other End Users
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the heavy construction machinery rental market in 2023. The regions covered in the heavy construction machinery rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Heavy Construction Machinery Rental Industry Players
Ashtead Group plc; United Rentals Inc.; H&E Equipment Services Inc.; Kanamoto Co. Ltd.; Boels Rental Ltd.; Haulotte Corporate; Herc Rentals Inc.; Loxam S.A.S; Sarens USA Inc.; Sumitomo Corporation; Hyundai Heavy Industries Group; Hitachi Construction Machinery Group; Caterpillar Inc.; Komatsu Ltd.; Volvo CE; Sunstate Equipment Co.; Maxim Crane Works L.P.; BlueLine Rental LLC; Ahern Rentals Inc.; Neff Rental LLC; BigRentz Inc.; Sunbelt Rentals Inc.; The Home Depot Inc.; United Site Services Inc.; Anderson Machinery Co.; Romco M Offset Pvt. Ltd.; Texas First Rentals; Aktio Co. Ltd.; Nishio Rent All Co. Ltd.; Metso Outotec Corporation; Atlas Copco AB
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AIOps Heavy Construction Machinery Rental Market Overview
Heavy construction machinery rental refers to the service of renting those equipment/types of machinery that are designed for executing large construction projects. This heavy machinery is used for a specific function that is necessary for a variety of construction tasks. Renting heavy construction equipment saves construction contractors the cost of new equipment, labor costs, maintenance costs, and operational costs.
Heavy Construction Machinery Rental Global Market Report 2023 provides data on the global heavy construction machinery rental market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The heavy construction machinery rental market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.