施工機械出租的全球市場:各車輛類型(土木工程機具、物料輸送)、動力來源(內燃引擎、混合)、地區 - 成長，趨勢，預測(2019年∼2026年)
Construction Equipment Rental Market - Growth, Trends, and Forecasts (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||707325|
|出版日期||內容資訊||英文 150 Pages
|施工機械出租的全球市場:各車輛類型(土木工程機具、物料輸送)、動力來源(內燃引擎、混合)、地區 - 成長，趨勢，預測(2019年∼2026年) Construction Equipment Rental Market - Growth, Trends, and Forecasts (2020 - 2025)|
|出版日期: 2020年06月01日||內容資訊: 英文 150 Pages||
The construction equipment rental market is anticipated to register a CAGR of about 4.78% during the forecast period.
Increasing Investments in the ASEAN Construction Industry
Asia-Pacific is Expected to Dominate the Construction Equipment Rental Market
The global construction equipment rental market has been experiencing positive growthover the past three years (2017-2019), as a result of the heavy investments made in the smart residential and commercial buildings sector, and government policies boosting to the manufacturing sector. However, in 2020, the sudden outbreak of COVID-19 pandemic across the world resulted in the lockdown of many economic sectors, including the construction industry, for a few weeks/months during the first quarter of 2020.
However, during this time, critical government construction projects, such as hospital builds, key utilities, and infrastructure, continued working but at a slower pace with less labor force at the job site to prevent the spread of coronavirus. Thus, during 2020, the construction equipment rental market value is likely to fall by ~30% due to a fall in the global economic growth, which, in turn, is resulting in a slow down of construction work timelines.
Currently, the construction equipment rental companies and construction contractors have slowly started to resume their construction works as governments have started giving approvals for commercial construction projects across the cities in many countries, like the United States, India, the United Kingdom, and China.
The emerging markets in Asia-Pacific and South America are witnessing strong demand for heavy construction equipment, and substantial investments are being made in these ese regions.
The ongoing demand for construction of smart cities across the world and various mega construction, particularly in developing countries, will increase the demand for the construction equipment rental market.
The Asia-Pacific is one of the largest markets that has witnessed a boom in the construction and infrastructural development, because of the growing emphasis by the governments on developing infrastructure for a sustainable economy. This region witnessed growth in the number of Special Economic Zones (SEZs), airports, metro construction, highway constructions, dams, hydroelectric projects, etc., in order to sustain high-level industrial activities, better connectivity, and growing energy demand. As a result, many international players are beginning to invest and are setting up manufacturing facilities and distribution centers in the region to meet the growing demand and to capture the regional market. Construction machinery manufacturers, such as Liebherr, Caterpillar, Hitachi, and Sumitomo Corporation, are offering rental services that face intense competition from numerous domestic and regional players, owing to the competitive pricing and technologically advanced equipment availability.
Crawler excavators are one of the most demanded heavy construction equipment (heavy-duty excavators), weighing 60,000 to 80,000 pounds, used across a wide range of applications, including industries (especially heavy infrastructural projects), underground utilities, road construction, pipeline, and commercial site preparation and demolition purposes. Increasing capacity augmentation in the cement industry is expected to propel the growth of the excavator market.
In order to ramp up the efficiency of work and reduce the maintenance cost of the machinery, equipment rental software solutions provide a base to the construction machinery rental companies. The majority ofthe international companies already started using these software solutions to track the precise working hours, parts replacement cycle, and operation efficiency.
The market is highly fragmented, such that for every country, there are more than 150 mobile crane service providers, according to the directory of cranes by TDKv. Post-2020, the operating profit of rental companies is anticipated to increase from 8-10% to 12-14%, owing to the rising non-residential construction activities and customers' preference toward brand loyalty due to the extensive marketing activities conducted by major companies.
The global construction equipment rental market is characterized by the presence of numerous domestic and regional players, resulting in a highly fragmented market environment.
The five key players, namely United Rentals Inc., Ashtead Group PLC, Herc Rentals, H&E Equipment Services, Loxaman, and Kanamoto Co. Ltd, in the market account for 18% of the market share, and the remaining 82% of the market share is held by other players (domestic or regional players).
The market is highly driven by mergers and acquisitions and joint venture activities.