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Europe Construction Equipment Rental Market Size By Product (Earthmoving & Road Building Equipment [Backhoes, Excavators, Loaders, Compaction Equipment], Material Handling & Cranes [Storage & Handling Equipment, Engineered Systems, Industrial Trucks, Bulk Material Handling Equipment], Concrete Equipment [Concrete Pumps, Crushers, Transit Mixers, Asphalt Pavers, Batching Plants]), Research Report, Country Outlook (U.K., Germany, France, Italy, Russia), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026
Published Date: February 2021 | Publisher: Graphical Research Report ID: GR1664 | Delivery : PDF  Request Free Sample

Europe Construction Equipment Rental Market size crossed USD 38 billion in 2019 and is estimated to observe a growth rate of 4% between 2020 and 2026.

The industry growth is driven by an upward market trend of adopting technologically integrated equipment in rental fleets. Technological innovations, such as integration of autonomous driver assistance systems and telematics into construction equipment, have propelled the market demand. A telematics system provides machine diagnostics and timely alerts that help reduce downtime, misuse, and theft of the equipment. It also offers enhanced security, greater efficiency, and productivity in operations. Shifting consumer preferences toward technologically advanced construction rental equipment will support the market expansion.
 

Europe Construction Equipment Rental Market

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The European construction equipment rental industry has been impacted adversely due to the prevailing COVID-19 health crisis. Suspension of government-funded construction projects owing to financial insecurities and lack of capital has led to a decline in demand for construction equipment. However, the high cost of new equipment is expected to stabilize the market during the pandemic. Construction companies and building contractors are highly inclined toward renting the equipment instead of investing in expensive new machines.

The growing number of public infrastructure developments including airports and railways in Italy, Germany, and France is driving the growth of the regional construction sector. The growing number of construction activities is propelling the demand for construction equipment rental services in these markets. The rapid increase in government investments on infrastructure development is supporting the Europe construction equipment rental market demand.

For instance, in March 2019, Italy’s Milan Bergamo airport announced an investment of USD 503.09 million for its development plan through 2030. The investment encompasses the expansion of the airport by extending the terminal size and development of additional facilities at the airport. Increasing availability of technologically advanced construction equipment rental is encouraging the demand for rental services in public infrastructure projects.

European Market, By Product

The earthmoving and road building equipment segment is poised to grow at healthy CAGR during the forecast timeline impelled by the increasing adoption of loaders, backhoe, and excavators in construction activities. These machines are used for a wide range of earthworks including grading soil, laying foundations, digging trenches, removing dirt & rocks, and demolition work. The proliferation of excavators has increased over the years due to their adoption in quarrying, mining, and road-building activities.

Competitive Industry Landscape

Key players operating in the Europe market are Loxam Group, Cramo PLC., United Rentals, Nesco Rentals, Hertz Corporation, Boels Rental, and Caterpillar Inc. These players are laying an emphasis on enhancing their business operations by expanding their product & service offerings. For instance, in January 2021, Loxam Group launched its LOXGREEN range in favor of offering eco-friendly rental services. Industry players are also adopting acquisition strategies to expand their customer base and geographic presence.
 

Frequently Asked Question(FAQ) :

The market for rental construction equipment in Europe was valued at USD 38 billion in 2019 and is projected to register a 4% CAGR through 2026.
Increasing number of public infrastructure projects such as airports and railways in Germany, France, and Italy are driving the regional demand for rental construction equipment.
Increasing mining, quarrying, and roadbuilding activities in Europe construction equipment rental are generating a demand for loaders, excavators, backhoes, and other equipment.
Key industry participants including United Rentals, Caterpillar, Hertz Corporation, Loxam Group, and Cramo are focusing on providing affordable rental services and consolidating their market position via mergers, acquisitions, and collaborations.

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