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Construction Equipment Rental Market Analysis
- Report ID: GMI773
- Published Date: Jan 2023
- Report Format: PDF
Construction Equipment Rental Market Analysis
The industry size from the material handling & cranes segment accounted for USD 15 billion in 2022, due to growing need for handling bulk materials impelled by rapid industrialization. Furthermore, major investments toward the integration of modern technologies and significant efforts by firms to enhance their product portfolios are expected to drive the market development. For instance, CanLift Equipment Ltd., a material handling manufacturer, expanded its product line by adding nine new aerial lift machines from XCMG, a leading construction manufacturing company.
The Europe construction equipment rental market is projected to capture 25% of the overall share by 2032, owing to the recovering construction business with major and small-scale commercial and residential advancements. The soaring emphasis of construction firms on establishing long-term partnership projects with equipment rental, design and consulting firms, along with government initiatives for infrastructure improvement, is likely to boost regional profits. In April 2022, the EU launched the Climate-Neutral and Smart Cities Mission with the goal of providing 100 climate-neutral and smart cities by 2030.
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Construction Equipment Rental Market Scope
