Asia Pacific Construction Equipment Rental Market Size to Hit USD 45 Billion by 2026

Asia Pacific construction equipment rental market is predicted to witness tremendous growth during the forecast period of 2020-2026 and is set to cross the $45 billion mark by the end of this period, according to industry experts. The reason for this being the rapid increase in the percentage of construction activities in the region. It is a well-known fact that the construction and infrastructure industry is the backbone of any economy, whether a developed or a developing one.

Most of the major countries in Asia Pacific are experiencing economic transition and this has given rise to a whole range of construction and infrastructure activities in these economies. For example, India has several large construction projects in the pipeline which includes the Pune Metro Rail, Delhi-Mumbai Industrial Corridor, Navi Mumbai International Airport, among many others.
 
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Construction machines and equipment cost a huge amount of investment for any company dealing in major construction projects. They also incur heavy taxes and have expensive insurance policies. The cost of repair and maintenance of these giant machines is a huge burden for many construction firms. This is where renting the equipment comes to the rescue as it is much cheaper to rent these devices for construction than make heavy investments which can also run the risk of incurring severe losses.

 
The COVID-19 pandemic caused acute disturbance in Asia Pacific construction equipment rental market all over the world, including Asia Pacific region. The construction industry, in particular, faced immense troubles during the initial stages of the crisis. The reason for this was the shortage of manpower and finances to keep construction projects running. However, over a period of time, the ease in lockdown restrictions and the gradual reopening of various industries have positively impacted the sector.
 
Based on the type of product, the material handling and crane segment of construction equipment rental industry is reported to fare well during the forecast period. This trend is seen in light of the rapidly growing e-commerce sector in different parts of APAC. As per a 2018 report published by the United Nations Conference on Trade and Development (UNCTAD), the B2B industry in China saw incredible sales of $2,304 billion, whereas the same industry in Japan reached a staggering sales figure of $3,280 billion.
 
Out of all the countries projected to contribute towards the growth of construction equipment rental market, India will play an active role as the country’s construction industry showcases high growth potential. A reason for the market to expand substantially in this economy is the large number of infrastructure projects kept in pipeline, which will surely contribute towards India’s economic growth.
 
The rise in the percentage of urban population in Asia Pacific will also bolster construction equipment rental market outlook. The reason for this is being cited in the fact that, as the urban population increases, so will the demand for residential and commercial spaces.
 
 
Some of the leading companies in Asia Pacific construction equipment rental market are Herc Rentals, Caterpillar Inc., Briggs Equipment, United Rentals Inc., Hitachi Group, Mahindra & Mahindra, among many others.
 
Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope
1.1    Research methodology
1.2    List of data sources
1.2.1    Secondary
1.2.2    Primary

Chapter 2   Market Snapshot
2.1    Asia Pacific construction equipment rental market snapshot

Chapter 3   Asia Pacific Construction Equipment Rental Trends
3.1    Industry coverage
3.2    Industry size, 2015 – 2026
3.3    Impact of COVID-19 pandemic
3.4    Value chain analysis
3.4.1    Company product snapshot
3.5    Innovation landscape
3.6    Regulatory norms & directives
3.7    Drivers & restraints
3.7.1    Market drivers
3.7.2    Market restraints
3.8    Industry analysis - Porter's
3.9    Competitive benchmarking, 2019
3.9.1    Strategy dashboard
3.10    PEST analysis

 
About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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