Construction Equipment Rental Market Share

APAC Market Statistics

The Asia Pacific construction equipment rental market, amongst the market in all the other regions, is projected to hold a significant market share by the end of 2037. The growth of the market can be attributed majorly to the significant investments being made in the development of dams, airports, special economic zones, highways, and more. For instance, the spending on airports in Asia Pacific is expected to surpass USD 1 trillion by 2041. Further, about USD 560 billion of this sum is to be spent on the region's new greenfield airports. These initiatives mainly intend to improve the overall economy of the region by boosting trade and connectivity. However, these extensive initiatives are expected to attract the leaders in the construction equipment rental business to set up their company or invest in the expansion of their company to this region, thus leading to regional market growth.

North American Market Forecast   

North America is another region that should exhibit remarkable growth in the construction equipment rental market by 2037.  The region held a share of more than 31% of the global market revenue in 2023. One of the major reasons for the growth of the regional market growth is the extensive construction activities that are undertaken by Canada. The number of immigrants to Canada has increased considerably in recent years. The increase in the number of immigrants is attracting significant investment from the regional government for the development of construction infrastructure to address the changing demands of both the immigrants and the citizens. It is estimated that the construction of 83,481 units of new homes started only in the Ontario province of Canada in 2023. Further, emphasis is being laid on the use of specialized equipment to optimize the mining and construction activities in the region, and this is expected to create opportunities for market growth.

Europe Market Forecast

Europe is also expected to hold a significant share of the global market by the end of 2037. The demand for residential buildings in Europe region is climbing. The climbing demand is, in turn, helping the recovery of the construction industry in the region. Further, many initiatives are being undertaken by the regional governments to improve the infrastructure. All these are encouraging businesses in the construction industry to enter into partnerships with service enterprises in consulting firms, design, and equipment rental. Such partnerships should contribute to the growth of the regional market for construction equipment rental during the forecast period considerably.