Construction Machinery Leasing Market Rewriting Long Term Growth Story | United Rentals, Aggreko, Loxam
Published Via 11Press : Construction machinery leasing service is used by the oil and gas sector, mining industry, infrastructure, construction, etc. The marketplace dynamics of construction machinery leasing are predominantly formed by the contributory factors of cumulative demand for construction machinery and cost-effectiveness, though they encounter challenges from the restraining factors of economic uncertainty and the regulatory environment. Nevertheless, the market is poised to sustain its growth trajectory, fueled by the significant growth opportunities presented by the potent factors of emerging markets and technological advancements.
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Construction Machinery Leasing Market Report Highlights:
| Attributes | Details |
| Study Period | 2018-2028 |
| Base Year | 2022 |
| Unit | Value (USD Million) |
| Key Companies Profiled | United Rentals, Ashtead Group, Sunbelt Rentals, Aggreko, Hertz Equipment Rental, Maxim Crane Works, BlueLine Rental, Ahern Rentals, Loxam, Herc Rentals, Nishio Rent All Co., Ltd., Neff Rental |
Construction machinery leasing is anticipated to see a CAGR of 4.67% from 2017 to 2028, according to HTF Market Intelligence.
- The need for construction equipment is on the rise, and cost-effectiveness is what is essentially fueling the market’s expansion for leasing this equipment.
- Particularly in emerging nations where there is a need to create infrastructure, the construction sector is expanding.
- The necessity for enterprises to access the equipment they cannot afford to buy outright is what drives the demand for construction gear leasing.
- Leasing construction equipment may help companies save a lot of money, especially if they only need the machinery for a brief project.
- Businesses may avoid both the significant up-front expenditures of buying equipment and the ongoing maintenance and repair expenses by leasing.
Major players include such as:
- United Rentals
- Ashtead Group
- Sunbelt Rentals
- Aggreko
- Hertz Equipment Rental
- Maxim Crane Works
- BlueLine Rental
- Ahern Rentals
- Loxam
- Herc Rentals
- Nishio Rent
- Neff Rental
Construction Machinery Leasing Market Breakdown:
By Application:
- Oil and gas
- Mining
- Infrastructure
- Construction
By Type:
- Operation lease
- Financial lease
By Equipment:
- Crane
- Cement Truck
- Compactor
- Excavator
By Duration:
- Short term
- Midterm
- Long term
The leasing market for construction equipment is saturated with competitors. To increase their market impact and clientele, trades are placing a robust emphasis on acquisition, merger, and partnership strategies. Through its examination of the market’s competitive environment, the study offers comprehensive business information on important participants such as United Rentals, Ashtead Group, and Sunbelt Rentals.
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Major Developments Activities in the Market:
- On December 12, 2022, Texas First Rentals, a division of HOLT, announced that it had acquired Rental One, a full-service equipment and storage container rental company with 15 locations serving the Dallas-Fort Worth Metroplex and Central Texas regions and providing a full line of construction equipment and supplies.
- In a partnership with Xuzhou Construction Machinery Group Co., Ltd., a significant player in the construction industry, CanLift Equipment Ltd., a leading producer of mid-air equipment and substantial handling equipment, long-drawn out its product line on January 18, 2022.
- The company now has the exclusive right to sell all XCMG earthmoving tackle in Ontario.
- The partnership between XCMG America Financial LLC and QuickFi to finance machines for Xuzhou Construction Machines Group Co., Ltd. was announced on June 9, 2022.
Market Growth Drivers:
- The market for construction machinery leasing is expanding primarily due to the rising demand for construction equipment and its cost-effectiveness.
- Particularly in emerging nations where there is a need to create infrastructure, the construction sector is expanding.
- The necessity for enterprises to access the equipment they cannot afford to buy outright is what drives the demand for construction gear leasing.
- Leasing construction equipment may help companies save a lot of money, especially if they only need the machinery for a brief project.
- Businesses may avoid both the significant up-front expenditures of buying equipment and the ongoing maintenance and repair expenses by leasing.
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Restraints:
- The expansion of the leasing market for construction equipment is being hampered by the regulatory environment and the state of the economy.
- Recessions and other periods of weak growth can have an effect on the construction sector and lower interest in leasing construction equipment.
- When this happens, companies could put off projects or put off leasing equipment until the economy picks up.
- The leasing of construction equipment may be impacted by the many rules and compliance criteria that apply to the construction sector.
- Businesses must make sure that the equipment they are renting complies with all legal standards and that they have the required authorizations and licenses to use it.
Opportunities:
- The construction sector is expanding significantly in developing nations, which presents a sizable opportunity for the leasing market for construction equipment.
- Leasing is a desirable choice in many nations since they lack the financial means to buy and maintain modern machinery.
- Leasing firms have the chance to provide their clients with cutting-edge equipment as construction machinery improves.
- For instance, leasing businesses may be able to offer equipment repair services remotely, improving efficiency and cutting costs, with the use of telematics and remote monitoring systems.
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