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A construction job mandates a large number of heavy machines. There are a number of advantages to lease the construction. Primarily, many contractors want to be able to stay on the cutting edge of technology. New tools are emerging all the time, and leasing equipment means that contractors can utilize the latest products available without taking on extravagant costs. When the lease is up, contractors can simply opt for the newest line of products available.
Scope of the Report:
The practice of leasing instead of purchasing heavy machinery has proven to be beneficial for companies of all sizes across numerous industries, Lower administrative overhead coupled with reduced expense and maintenance will drive construction equipment rental market size. Since industry vendors need to comply with the pervasive regulatory landscape, buyers benefit from elimination of replacement costs and associated expenditure. Other trends positively impacting revenue include growing technological advancements ranging from multifunctional machinery to apps for monitoring fuel consumption.
Thailand is the ASEAN's largest rental market, Enjoyed about 23.62% construction equipment rental market share. Vietnam and Indonesia are currently witnessing large-scale infrastructure development activities, which is raising demand for construction equipment. Also, as most of the projects are undertaken with private investment money, where the utilization of equipment is limited to a short duration, contractors prefer to use equipment on a rental basis.
The global Construction Equipment Rental market is valued at xx million USD in 2018 and is expected to reach xx million USD by the end of 2024, growing at a CAGR of xx% between 2019 and 2024.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Construction Equipment Rental.
Europe also play important roles in global market, with market size of xx million USD in 2019 and will be xx million USD in 2024, with a CAGR of xx%.
This report studies the Construction Equipment Rental market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Construction Equipment Rental market by product type and applications/end industries.
Market Segment by Companies, this report covers
- Sin Heng Heavy Machinery Limited
- Aktio Co., Ltd.
- Nishio Rentall
- Tat Hong
- Superkrane Equipments
- Rent (Thailand) Co.,Ltd.
- Kanamoto Co., Ltd.
- Asia Machinery Solutions Vietnam
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
- Earth Moving Equipment
- Material Handling and Cranes
- Concrete Equipment
- Road Building Equipment
Market Segment by Applications, can be divided into