Construction Equipment Rental Market is expected to grow at a highest CAGR over the forecast period

Global Construction Equipment Rental Market Report offers market size, share, overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.

The expansion of construction sector in the major Asian nations is directly proportional to the growth of Asia Pacific construction equipment rental market in the times to come. In fact, as per a research report put together by Global Market Insights, Inc., the remuneration portfolio of the Asia Pacific construction equipment rental industry is estimated to surpass a staggering USD 40 billion by 2024.

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A steady rise in the construction activities across the globe has been one of the pivotal factors to drive the construction equipment rental market share. Numerous rental equipment manufacturers have been proactive in incorporating high-grade technical features such as GPS, remote monitoring, and ergonomic controls that has contributed to swift product penetration in the construction sector.

Owing to a surge in the demand for compaction equipment, loaders, excavators, and backhoes, the product segment of the construction equipment rental industry is being presently dominated by earthmoving and road building equipment. It would be prudent to mention that a steady stream of new earthmoving machines has been spanning the market in the recent times. In addition to this, rapid technological developments have undoubtedly enhanced the working efficiency of the latest road building equipment which has invariably proved advantageous for the construction equipment rental market share.

Speaking along similar lines, several major heavy-equipment manufacturers have been unveiling high-grade excavators which has strengthened the position of earthmoving and road building equipment segment in the overall construction equipment rental industry. Hitachi, for instance, has launched one of the most fuel-efficient excavator in 2017. The ZH210-6 reportedly comes with a new lightweight arm and advanced hydraulics which ensures the excavator consumes less fuel and emit reduced levels of carbon dioxide.

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The rise of India and China as the foremost nations in the global economy has been touted as one of the most significant economic developments of the 21st century. The persistent growth being witnessed in these nations is certain to dominate the future progression of the world economy over the next few decades. Needless to mention, the construction sector places itself amongst the most crucial business verticals that would not only contribute in building infrastructural capabilities of these nations but is likely to emerge as a noteworthy aspect of economic advancement.

India has been deploying enormous resources to set up new international airports, build trade corridors of high-economic activity, upgrade government-owned buildings, revamp the rail infrastructure, and construct huge residential projects to fulfill the needs of housing for a burgeoning population. This would invariably have an optimistic impact on the overall construction equipment rental market in the nation.

Various governments across the globe are keen to revamp the basic infrastructure in their nations which has led to the launch of enormous infrastructural projects. As a consequence of the aforementioned aspects, the firms operating in the construction equipment rental market have been presented with humongous business opportunities.

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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