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PUNE, India, Dec. 16 2020 /PRNewswire/
The global construction equipment rental market was valued at US$ 79.73 Bn in 2019 and is anticipated to witness a compound annual growth rate of 4.5% over the forecast period
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The covid-19 outbreak is expected positively impact the global construction equipment rental market. Lowered risk-taking capacity by construction companies owing to the pandemic is expected to contribute to the growth of the market.
High cost associated with the purchase of construction equipment such as heavy down payment, repair and maintenance expense and other adding operational expenses such as licensing, insurance and tax amongst others is influencing the adoption equipment on rental basis, especially among large construction sites.