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Southern Africa Construction Equipment Rental Market is Projected to Witness Exponential Growth by 2024

Author : Rahul Varpe | Published Date : 2019-10-10 

This report studies the Global Southern Africa Construction Equipment Rental market status and outlook of global and major regions, from angles of players, regions, product types and end industries; this report analyzes the top players in global and major regions, and splits the Global Southern Africa Construction Equipment Rental industry by product type and applications/end industries.

Continued privatization rise in health & safety regulation and growing labor is providing an impetus to the Southern Africa construction equipment rental market growth. The growing preference of renting this equipment in industry verticals such as mining, and transportation will provide growth opportunities to the rental companies in the Southern Africa Construction Equipment Rental industry.

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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 Southern Africa Construction Equipment Rental Market. The Government of Mozambique is investing in large scale infrastructure projects. For instance, in 2016, the government announced a new project, with Japan investing USD 255 million in renovation of ports and railway capacity to facilitate mineral resources exports in the growing economies.

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.

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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Southern Africa Construction Equipment Rental Market, By Product:

  1. Earthmoving & Road Building Equipment
  2. Material Handling & Cranes
  3. Concrete Equipment

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.

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.

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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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