Over the next five years, LPI(LP Information) projects that Construction Machinery Leasing will register a 8.3% CAGR in terms of revenue, reach US$ 102500 million by 2023, from US$ 63600 million in 2017.
In this report, LP Information studies the present scenario (with the base year being 2017) and the growth prospects of global Construction Machinery Leasing market for 2018-2023.
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.
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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.
The Construction Machinery Leasing market is very fragmentation market, United Rentals, Ashtead Group, Aktio Corp, Kanamoto, Hertz Equipment Rental, Loxam Group, Blueline Rent, Ahern Rentals, Nishio Rent, Aggreko, Maxim Crane Works and SCMC are the leaders of the industry; the revenue of top ten manufacturers accounts about 20% of the total revenue in 2017. The high-end products mainly come from USA and Japan.
United States is the world’s most mature rental market, Enjoyed about 43.82% construction machinery lease market share. Asia and Europe 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.
Barriers to entry for the Construction Equipment Rental and Leasing industry are high, although they may be medium for some smaller, specialist firms. Large firms in this industry require a substantial stock of construction machinery and equipment to offer customers. Therefore, required funding levels to purchase a wide range, and vast volumes, of this equipment are high. New firms to this industry may have difficulty in accessing the funds required to purchase a large and extensive range of construction products. Prevailing economic uncertainty is likely to result in more stringent lending procedures, also increasing entry barriers for new firms.
The equipment rental industry is gaining huge prominence across the globe. Although, in emerging economies, such as Asia, the industry is still in the nascent stage, it is projected to witness high growth in the coming years. An increase in the awareness of the equipment rental industry and growing investment in the construction industry will drive the equipment rental market.
This report presents a comprehensive overview, market shares and growth opportunities of Construction Machinery Leasing market by product type, application, key companies and key regions.
The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:
- United Rentals
- Ashtead Group
- Aktio Corp
- Hertz Equipment Rental
- Loxam Group
- Blueline Rent
- Ahern Rentals
- Nishio Rent
- Maxim Crane Works
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To calculate the market size, LP Information considers value generated from the sales of the following segments:
Segmentation by product type:
- Earth Moving Equipment
- Material Handling and Cranes
- Road Building Equipment
Segmentation by application:
We can also provide the customized separate regional or country-level reports, for the following regions:
- United States
- Southeast Asia
- Middle East & Africa
- South Africa
- GCC Countries
- To study and analyze the global Construction Machinery Leasing market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Construction Machinery Leasing market by identifying its various subsegments.
- Focuses on the key global Construction Machinery Leasing players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Construction Machinery Leasing with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the size of Construction Machinery Leasing submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
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