Europe Construction Equipment Rental Market to Soar at USD 47 Bn by 2026

Author : Ronak Bora | Published Date : 2021-08-31 

By 2026, Europe construction equipment rental market size is projected to exceed $47 billion, steered by the smart city and roadway construction plans across the region. The following five vital trends are expected to influence the market between 2020 and 2026.

In sync with technological advancements across every sector, Europe construction equipment rental market is seeing consistent upgrades. Rental fleets are adopting telematics and autonomous driver assistance systems for catering to the demand across Italy, Germany, France, Russia, and the U.K. The integration of telematics systems by construction equipment rental companies ensures machine diagnostics and updated alerts.

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These features can minimize downtimes, theft, and misuse of the equipment. Nesco Rentals, Boels Rental, Loxam Group, United Rentals, Caterpillar Inc., and Cramo PLC are some leading construction equipment rental companies in Europe.

Infrastructure investments & roadway development

Infrastructure development and roadway construction activities are driving Europe construction equipment rental market trends. For instance, Bouygues Construction Company announced its agreement with Bina Istra concession company for broadening the Istria Motorway in north-west Croatia in October 2019. The contract was worth more than $200 million.

Similarly, recently, in March 2021, the European Commission approved the 121 km long express road construction project connecting Romanian cities of Pite?ti and Craiova. The EU is expected to contribute nearly €726 million toward the project.

Expanding deployment of concrete equipment

In terms of product, the construction equipment rental industry is broadly segmented into material handling & cranes, earthmoving & road building equipment, and concrete equipment. Of these, the market share from the concrete equipment segment is slated to register a steady growth through the next decade.

The increasing growth rate can be attributed to the rising deployment of new and used concrete machines across European construction sites. The concrete equipment available include batching plants, concrete pumps, transit mixers, crushers, and asphalt pavers.

Focus toward operating cost minimization

The outbreak of the COVID-19 pandemic was a major blow to the Europe construction equipment rental market. The ongoing construction activities witnessed a standstill and industry participants incurred substantial losses.

Although the decline in demand for construction equipment had a negative impact on the sector, the migration toward rental and used construction equipment is growing stronger. With construction companies seeking cost-effective solutions, Europe construction equipment rental market in is certain to see an uptick in revenue volume.

Airport construction projects to pick up pace

The growth in airport infrastructure is generating considerable demand for rented and used construction equipment across the U.K., Germany, and France. For instance, during March 2019, Milan Bergamo airport in Italy announced its plans to invest $503.09 million toward its development plan through 2030.

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Similarly, expansion plans at Heathrow, one of the busiest airports in the world, involves full length runway construction from 2022 to 2026. Being a major hub for trade and travel, the airport accounts for more than 75% of the total long-haul flights from and to the U.K. The growing number of railway and airport expansion projects is expected to translate to solid growth opportunities for Europe construction equipment rental market.

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    Europe construction equipment rental market snapshot

Chapter 3   Europe 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

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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