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Southern Africa Construction Equipment Rental Market is anticipated to reach a revenue of over $3.5 Billion by 2024

Author : Rahul Varpe | Published Date : 2019-04-15 

Global Market Insights provides a detailed overview of Southern Africa Construction Equipment Rental market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Southern Africa Construction Equipment Rental market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

By renting the equipment, companies are able to avoid the costs associated with inflation and depreciation, which would otherwise be factored in during replacement. Rental companies upgrade their equipment fleets on a regular basis, thereby providing access to advanced and new equipment and making it easier for the leasing party to act in accordance with the international and regional rules and standards.

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The development of advanced construction equipment with eco-friendly features and low maintenance will provide an alternative to legacy machinery in the coming years, thereby driving the Southern Africa construction equipment rental market. Purchasing machinery requires heavy down payments which avert a huge capital from key operating expenses and add extra expenditure in the form of insurance, licensing, interest on loan amount, storage cost, and tax, among others.             

Southern Africa Construction Equipment Rental Market is expected to reach a revenue of over USD 3.5 billion by 2024 can be attributed to rapid urbanization and increasing government initiatives. Emerging economies in the region such as Mozambique and Zambia have shown sustained economic growth in sectors including manufacturing over the past few years contributing towards the market. The Government of Mozambique is investing in large scale infrastructure projects.

High investment and maintenance costs for the equipment is a critical driving force for the Southern Africa construction equipment rental market growth. The cost of material handling equipment is relatively high, that restricts manufacturers, businesses, and OEMs from implementing and procuring high-end automated systems. Rental companies are seizing the opportunity and are procuring high-end equipment to rent or lease them to SMBs.

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The practice of renting construction equipment instead of purchasing is proving to be beneficial for SMBs and large enterprises across several industries, leading to robust Southern Africa construction equipment rental market growth. Major growth is being witnessed in sectors such as transportation, and oil & gas, which have large scale investments. With such high level of investments, several construction companies are preferring to lease or rent heavy equipment, which will help them lower project costs. This approach is assisting construction companies to save maintenance costs and incur lesser technical charges. The reduced transportation, operation and maintenance requirements are also major driving forces for the industry revenue.

The major companies operating in the Southern Africa construction equipment rental market include Altec Inc., Atlas Crane Hire, Babcock International Group PLC, Barloworld, Kanu Equipment and Kemach Equipment among others. Rental companies are appointing experts to ensure that all services provided are of superior quality to facilitate service excellence, precision, and customer retention & satisfaction.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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