The development of advanced construction equipment with eco-friendly features and low maintenance will provide an alternative to legacy machinery in the coming years, thereby driving the Southern Africa Construction Equipment Rental Market. Purchasing machinery requires heavy down payments which avert a huge capital from key operating expenses and add extra expenditure in the form of insurance, licensing, interest on loan amount, storage cost, and tax, among others.
Southern Africa Construction Equipment Rental Market is expected to reach a revenue of over USD 3.5 billion by 2024 can be attributed to rapid urbanization and increasing government initiatives. Emerging economies in the region such as Mozambique and Zambia have shown sustained economic growth in sectors including manufacturing over the past few years contributing towards the market.
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Continued privatization rise in health & safety regulation and growing labor is providing an impetus to the Southern Africa construction equipment rental market growth. The growing preference of renting this equipment in industry verticals such as mining, and transportation will provide growth opportunities to the rental companies in the market.
The Government of Mozambique is investing in large scale infrastructure projects. For instance, in 2016, the government announced a new project, with Japan investing USD 255 million in renovation of ports and railway capacity to facilitate mineral resources exports in the growing economies.
Southern Africa construction equipment rental market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
Southern Africa Construction Equipment Rental Market, By Product
- Earthmoving & Road Building Equipment
- Material Handling & Cranes
- Concrete Equipment
The above information has been provided on a country basis for the following:
- South Africa
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The major companies operating in the Southern Africa construction equipment rental market include:
- Altec Inc.
- Atlas Crane Hire
- Babcock International Group PLC
- Kanu Equipment
- Kemach Equipment
Rental companies are appointing experts to ensure that all services provided are of superior quality to facilitate service excellence, precision, and customer retention & satisfaction.
The practice of renting construction equipment instead of purchasing is proving to be beneficial for SMBs and large enterprises across several industries, leading to robust Southern Africa construction equipment rental market growth. Major growth is being witnessed in sectors such as transportation, and oil & gas, which have large scale investments. With such high level of investments, several construction companies are preferring to lease or rent heavy equipment, which will help them lower project costs.
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