Selbyville, Delaware, Feb. 10, 2021 (GLOBE NEWSWIRE) – According to expert forecasters, the North American construction equipment rental market is expected to grow at a healthy rate in 2020-2026, rising to $ 55 billion by the end of the agreed period amounts to time frame. The robust growth of the construction sector is stimulating industry growth. In addition, high initial investment costs for new machinery draw the attention of contractors and construction companies to equipment rental.
In addition, the increasing focus by governments in the US and Canada on establishing regulators to track and monitor vehicle emissions is expected to accelerate the expansion of the North American construction equipment rental industry. To meet stringent regulations, rental companies are increasingly focusing their fleet expansion efforts on low-emission loaders, excavators, and other equipment necessary for road building, earthmoving, and paving to further improve the outlook for the industry.
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With the rapid spread of the Covid-19 virus, the North American construction equipment rental industry has suffered a major blow as countries in the region faced several economic troubles in the first two quarters of 2020. With lockdown mandates preventing companies from operating effectively, construction was halted and production units grew slowly due to declining raw material supplies and limited availability of skilled labor. However, with a gradual economic recovery and containment of the virus, the market is expected to revive in 2021.
Product landscape overview
North America Construction Equipment Rentals market segmentation includes concrete equipment, material handling and cranes, and earthmoving and road construction equipment based on product type. Among these, the material handling and cranes segment, which consists of industrial trucks, storage and handling equipment, bulk goods handling equipment and technical systems, is expected to show strong growth over the planned period. The growing demand for industrial trucks, as these vehicles can reduce human effort and increase productivity, is fueling segment growth.
Snapshot for competitive terrain
The main competitors in the North American construction equipment rental market are Fortrent Oy, Cramo Group, Caterpillar, Inc., Briggs Equipment, Inc., Boels Rental, Ashtead Group plc, Aktio Corp., AJ Networks Co., Ltd. and Ahern Rentals, Inc. among others. These industry giants pursue strategies such as cooperations and partnerships in order to increase their customer reach. For example, in June 2020 Ahern Rentals Inc. named Trackunit A / S its partner for telematics platforms to increase its share of the domestic market.
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North America Construction Equipment Rental Market (Value, $ Billion, 2015-2026)
Earth moving and road construction machinery
- Backhoe loader
- Compaction equipment
Material handling and cranes
- Engineered Systems
- Storage and handling equipment
- Equipment for handling bulk materials
- Concrete pumps
- Asphalt paver
- Transit mixer
- Mixing plants
North American Construction Equipment Rental Market Geographically Fragmented (Value, $ Billion, 2015-2026)
Competitive Dashboard for Construction Equipment Rentals Market in North America (Value, $ Billion, 2015-2026)
- United Rentals, Inc.
- Unirent OÜ
- Sunstate Equipment Company
- Riwal Holding Group BV
- Ramirent Finland Oy
- Pekkaniska Oy
- Nesco, LLC
- Mtandt group
- LTech lifting technology
- Loxam Group
- Kiloutou SAS
- Kanamoto Co., Ltd.
- Hinkel Equipment Rental Associates
- Herc Holdings, Inc.
- H&E Equipment Services, Inc.
- Fortrent Oy
- Cramo Group
- Caterpillar, Inc.
- Briggs Equipment, Inc.
- Boels rental
- Ashtead Group plc
- Aktio Corp.
- AJ Networks Co., Ltd.
- Ahern Rentals, Inc.
Table of Contents:
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 List of data sources
Chapter 2 Market Snapshot
2.1 Snapshot of the construction machinery market in North America
Chapter 3 Construction Equipment Rentals Trends in North America
3.1 Industry coverage
3.2 Industry size, 2015-2026
3.3 Effects of the COVID-19 pandemic
3.4 Value chain analysis
3.4.1 Company product snapshot
3.5 Innovation landscape
3.6 Regulatory Standards and Guidelines
3.7 Driver & restraint systems
3.7.1 Market drivers
3.7.2 Market Restrictions
3.8 Industry analysis – Porter’s
3.9 Competitive benchmarking, 2019
3.9.1 Strategy dashboard
3.10 Pest analysis
Chapter 4 Construction Equipment Rentals Market in North America Size by Product (USD)
4.1 Construction Equipment Rentals Market Share in North America, by Product, 2019 and 2026
4.2 Earthmoving and road construction machinery
4.2.1 Market assessments and forecasts, 2015-2026
4.2.2 Backhoe loader
184.108.40.206 Market assessments and forecasts, 2015-2026
220.127.116.11 Market assessments and forecasts, 2015-2026
18.104.22.168 Market assessments and forecasts, 2015-2026
4.2.5 Compaction equipment
22.214.171.124 Market assessments and forecasts, 2015 – 2026
126.96.36.199 Market assessments and forecasts, 2015-2026
4.3 Material transport and cranes
4.3.1 Market assessments and forecasts, 2015-2026
4.3.2 Storage and handling equipment
188.8.131.52 Market assessments and forecasts, 2015-2026
4.3.3 Technical systems
184.108.40.206 Market assessments and forecasts, 2015-2026
4.3.4 Industrial trucks
220.127.116.11 Market assessments and forecasts, 2015-2026
4.3.5 Bulk Handling Equipment
18.104.22.168 Market assessments and forecasts, 2015-2026
4.4 Concrete equipment
4.4.1 Market assessments and forecasts, 2015-2026
4.4.2 Concrete pumps
22.214.171.124 Market assessments and forecasts, 2015-2026
126.96.36.199 Market assessments and forecasts, 2015-2026
4.4.4 Transit mixer
188.8.131.52 Market assessments and forecasts, 2015-2026
4.4.5 Asphalt Pavers
184.108.40.206 Market assessments and forecasts, 2015-2026
4.4.6 Mixing plants
220.127.116.11 Market assessments and forecasts, 2015-2026
Chapter 5 Construction Equipment Rentals Market Share in North America by Region (USD)
Construction Equipment Market Size, Growth Potential, Competitive Market Share, and Forecast, 2020-2026
According to a new research report, the market size for construction machinery is expected to grow with a CAGR of over 4% between 2020 and 2026. According to the market report, the increasing number of maintenance and reconstruction work in several countries around the world is increasing the demand for construction machinery. The demand for different types of heavy equipment usually depends on the size of the work, as well as the economics of the project. Choosing the right equipment for the right job makes the construction process much easier and faster. With technologically advanced construction machinery, work in the construction areas becomes smoother, ensuring that the project is completed before the specified date.
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