Construction Equipment Rental Market to Grow 1.6 Times Forecast 2019 to 2029
factmrMay 9, 2021
A gist of Construction Equipment Rental Market report
The Construction Equipment Rental Market report covers the key factors regarding the recent happenings such as new product launches, synergisms, and mergers & acquisitions. Furthermore, the study offers a dexterous background for acquiring heaps of information that likely consumers can use to ensure better gains at low expenditures. The presentation of insights on Construction Equipment Rental Market segmentation by type, application, and geography provides a critical angle.
Resurgent oil & energy exploration projects is driving the demand for earth moving machinery. This segment accounts for a majority share of more than 60% of the total market revenue. Budding ecosystem of small builders and contractors in developing economies is leading to high demand growth for earth moving machinery, as these builders/contractors prefer rental services over purchase costly equipment. However, the highest growth prospects can be traced to material handling machinery products. The material handling machinery segment is expected to grow at a healthy 6% CAGR through 2029.