2024-01-08 12:36:07
A recent report published by Grand View Research, Inc on the global construction equipment rental market provided a vision with data for the sector, highlighting a market size valued at US$ 187.46 billion in 2022 and presenting the sector’s perspectives for the period from 2023 to 2030, addressing a compound annual growth rate (CAGR) estimated at 6.12%.
In a publication made by Mordor Intelligenceit is possible to verify that the content provides data on the size of the construction equipment rental market stating that it is expected to grow from US$128.64 billion in 2023 to US$163.01 billion by 2028, with a CAGR of 4.85 % during the forecast period (2023-2028).
According to the previously cited publication made by Grand View Research, Inc, it is possible to verify data on construction and mining operations, triggered by increased government spending on public infrastructure in emerging economies, driving global demand for construction equipment. The publication states that with the increase in machine prices it is possible that this will encourage companies and contractors to opt for construction equipment rental.
Still on the report of the Grand View Research, Inc, who commented on the influence of the pandemic, also stated that the period of greatest global impact represented a significant challenge for the sector, disrupting global supply chains and closing production facilities. The publication reports that in 2021, the market experienced growth, driven by the uncertainty caused by the pandemic.
José Antônio Valente, director of equipment rental franchise company Franquias Trans Obra stated that despite the challenges, the construction equipment rental market is adapting to changes in economic dynamics and global conditions. “The option of renting as an alternative to directly purchasing machines might become a strategy more adopted by companies in search of flexibility and efficiency in the midst of a constantly changing scenario.”
In specific numbers, the report mentioned at the beginning of this article highlighted the segments of the sector that are divided, according to the publication, into earthmoving machines, material handling machines and concrete and road construction machines. The earthmoving machinery segment led with a market share of over 55.76% in 2022.
On the subject, José Antônio stated that it is important to observe the sector’s segments and projections for future investments in leasing machinery and equipment and analyze what will actually be important for companies in Brazil. “It is important that companies that decide to lease, from the point of view of becoming companies in the field to offer this service, understand that the best franchises to invest in they must offer quality machines with guaranteed maintenance so as not to harm production and construction processes in the country”.
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