The Heavy Construction Machinery Rental Global Market Report 2023, provides comprehensive information on the heavy construction machinery rental market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Heavy Construction Machinery Rental Market’s Growth:
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The global heavy construction machinery rental market size is expected to grow from $49.79 billion in 2022 to $53.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global heavy construction machinery rental market size is expected to reach $70.54 billion in 2027 at a CAGR of 7.1%.
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The introduction of artificial intelligence (AI) has emerged as a key trend gaining popularity in the heavy construction machinery rental market. Artificial intelligence refers to the combination of datasets and computer science that enables problem-solving. Artificial intelligence is used to track performance data by attaching sensors to construction equipment. Major companies operating in the heavy construction machinery rental market are adopting new technologies such as artificial intelligence (AI) and machine learning to sustain their position in the market. For instance, in August 2022, Caption, an Israel-based start-up launched ‘MineCept’ an AI-based system for heavy equipment. This system is installed on heavy construction equipment and provides real-time information to site managers, operators, and safety managers. This artificial intelligence-based system helps to reduce accidents and improve the safety and productivity of heavy construction equipment at industrial plants, mines, or construction sites.
The heavy construction machinery rental market is segmented:
1) By Equipment: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Equipment
2) By Application: Excavation And Demolition, Heavy Lifting, Tunneling, Material Handling, Recycling And Waste Management
3) By End User: Infrastructure, Construction, Mining, Oil And Gas, Manufacturing, Other End Users
North America was the largest region in the heavy construction machinery rental market in 2022.
The table of contents in TBRC’s heavy construction machinery rental market report includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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