Rockville , July 19, 2023 (GLOBE NEWSWIRE) -- The global power equipment rental market is estimated to reach a valuation of US$ 11.4 billion in 2023 and is expected to grow at a CAGR of 5.3% during the forecast period of 2023–2033.
With the constantly evolving power equipment demand across various end-use industries, due to the growing technological advancements, changing regulations, and market demands the demand for power equipment and its rental services witnessing growth.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8651
As industries embrace new technologies and adopt innovative processes, their equipment requirements also change. Power equipment rental companies are staying abreast of these evolving needs and are investing in modern equipment models to meet the changing demands of industries. This adaptability positions rental companies as reliable partners in providing the latest equipment and technology solutions, driving the market growth.
Renting allows businesses to optimize their equipment utilization rates. Companies operating in renting businesses often provide maintenance, repair, and transportation services, ensuring that equipment is in optimal condition and readily available when needed. This improves operational efficiency and reduces downtime for businesses. Hence, the growing demand for power equipment and the benefits of renting it is paving the way for the power equipment rental market growth
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 19.2 Billion |
| Growth Rate (2023-2033) | 5.3% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 80 Tables |
| No. of Figures | 114 Figures |
Key Takeaways from Market Study
- The global power equipment rental market is projected to grow at 5.3% CAGR and reach US$ 19.2 billion by 2033
- The market created an opportunity of US$ 77.7 billion growing at a CAGR of 5.5% between 2018 to 2022
- North America is a prominent region that is estimated to hold a market share of 25.3% in 2023
- Predominating market players include Aggreko plc, A-Plant, BlueLine Rental, Coates Hire Limited, Compact Power Equipment Rental, Cramo Group, and Herc Rentals Inc.
- Construction and infrastructure under end users are estimated to grow at a CAGR of 6.0% between 2023 and 2033
- North America and East Asia are expected to hold a market share of 25.3% and 24.3% respectively during the end of 2023
“Growing Oil & Gas and Construction Industry to Drive Power Equipment Rental Market Growth in Coming Years” says a Fact.MR analyst.
Key Companies Profiled In This Report
- Aggreko plc
- Coates Hire Limited
- Cramo Group
- Herc Rentals Inc.
- Sunbelt Rentals
- United Rentals Inc.
Market Growth Stratagems
Staying up to date with the latest technology trends in the power equipment sector is something the key players are focusing on for sustained growth. Rental companies are also investing in modern, technologically advanced equipment that offers improved performance, fuel efficiency, and safety features. Integrating telematics and IoT capabilities into the equipment fleet to enhance operational efficiency and enable better equipment management is one of the major factors that companies are focusing on.
Major players are also emphasizing providing exceptional customer service and a seamless rental experience in order to differentiate themselves from their competitors. This includes offering user-friendly online platforms for equipment reservations, transparent pricing structures, timely equipment delivery and pick-up, and efficient customer support throughout the rental process.
Segmentation of Power Equipment Rental Industry Research Report
- By Type:
- Power Drills
- Power Saws
- Power Sanders
- Power Grinders
- Power Lawnmowers
- Power Generators
- Power Welders
- Power Air Compressors
- Power Pressure Washers
- Power Chainsaws
- Others
- By Rental Type:
- Period Rental
- Rent to Own
- On-Demand Rental
- By End User:
- Construction & Infrastructure
- Manufacturing & Industrial
- Oil and Gas, Mining, & Energy
- Landscaping & Outdoor Maintenance
- Agriculture & Farming
- Transportation & Logistics
- Home Improvement & DIY
- Municipal & Government Projects
- Telecommunications & Network Infrastructure
- Utilities & Power Generation
- Others
- By Sales Channel:
- Rental Center (Stores)
- Online Rentals
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=8651
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the power equipment rental market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of the type (power drills, power saws, power sanders, power grinders, power lawnmowers, power generators, power welders, power air compressors, power pressure washers, power chainsaws, others), end user (construction & infrastructure, manufacturing & industrial, oil & gas, mining, & energy, landscaping & outdoor maintenance, agriculture & farming, transportation & logistics, home improvement & DIY, municipal & government projects, telecommunications and network infrastructure, utilities & power generation, others), rental type (period rental, rent to own, on-demand rental), sales channel (rental center (stores), online rentals) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa).
Explore More Trending Studies on Industrial Goods domain Published by Fact.MR Research:
Intralogistics Market: Global revenue from intralogistics is anticipated to reach US$ 75.36 billion by 2032.
Air Purifier Market: In 2032, Air Purifier market worth is poised to reach US$ 20 Billion.
Hydrogen Sensor Market: Sales of hydrogen sensors are anticipated to reach US$ 599 million by 2032.
Lithium-Ion Battery Pack Market: The market for lithium-ion battery packs is predicted to reach US$ 88.46 billion by 2033.
Scrap Metal Recycling Market: Global scrap metal recycling market is estimated to be valued at US$ 70.5 billion in 2023 and it is expected to grow at a CAGR of 5.5% to reach US$ 120.3 billion by the end of 2033.
About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Shubham Patidar
Email: shubham@factmr.com
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
