The global construction equipment rental market will reach $186.86 billion by 2032, claims Emergen Research.

Vancouver, Nov. 7, 2023 (GLOBE NEWSWIRE) - The global construction equipment rental market is valued at USD 165.98 billion by 2032, according to a current analysis by Emergen Research.

The emergence of new technologies such as advanced digital services to improve automated industries, equipment maintenance tracking, and mapping is the current trend in the construction equipment rental market. The increasing adoption rate of advanced construction equipment is fueling technological breakthroughs in construction equipment rental services. Breakthroughs in technology in the automotive and heavy machinery industries have brought some new features to construction equipment rental services. Construction equipment manufacturers are currently''time are actively developing advanced safety features such as 360-degree cameras, additional work lights and lift assist. They are also offering systems that can improve operational efficiency and require minimal maintenance. Companies in the construction industry are now opting for rented equipment rather than investing in new equipment for their projects.

A variety of leading economists and major industrialists expect an economic downturn on the horizon, which could spark further demand growth.

The total scope of the study:

The global market for construction equipment rental is mostly fragmented, with a large number of conglomerates as well as medium-sized and start-up companies accounting for a major share of the global market. Major companies across the world are manufacturing technologically advanced''equipment. The key players operating in the market are...

In March 2019, Cooper Equipment Rentals announced the acquisition of Prime Rentals, an equipment rental company based in Canada. This investment helped the buyer to expand its business in Southern Alberta. The earthmoving equipment segment led the construction equipment rental market in 2019. On the other hand, the road construction and concrete segment is expected to expand at a compound annual growth rate of 3.3% and 4.3%, respectively, from 2020 to 2027.

In January 2019, Loxam acquired UK Platforms (UKP) from HSS Hire Group plc. through its wholly-owned subsidiary in the UK, Nationwide Platforms Limited. By combining the strengths of UKP and Nationwide, the buyer has strengthened its business in the energy access market in''UK.

In 2019, Siddha Group began utilizing new construction technologies such as Predeck, PEB and Drywall to achieve better results.

In October 2018, United Rentals completed the acquisition of Western One Rentals & Sales LP, a provider of aerial lift rental equipment and thermal solutions based in Canada, to expand its business in Western Canada.

In March 2018, Ashtead Group acquired the assets of Above and Beyond Equipment Rentals, LLC and Above and Beyond of Fairfield County, Inc.(A&B). A&B is a workplace rental platform company based in Connecticut, USA.

Total report:

(some key findings of the study are listed below)

Full description of the report + Research methodology + Table of Contents +''Infographics can be found at link.

Emergen Research is a research company providing market reports and consulting services. We offer market research tailored to our clients' target audience to help them make more informed business decisions. We provide market research that ensures relevant and fact-based data across a variety of industries including healthcare, chemicals, technology and energy.