Urbanization Accelerating the Demand for Demolition Equipment Rental Services

Rockville , Aug. 09, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, The demolition equipment rental market is estimated to grow from US$ 210.5 million in 2023 to US$ 380.6 million in 2033 at a rate of 6.1% creating an absolute $ opportunity of US$ 170.1 million.

Demolition equipment, such as hydraulic excavators, wrecking balls, high-reach demolition machines, and concrete crushers, are critical for the construction and demolition industry. As these adaptable instruments provide flexibility and precision in building and dismantling structures, meeting the different needs of construction businesses and contractors. The growing demand for demolition equipment is likely to create growth opportunities for demolition equipment rental service providers as well.

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As rental companies offer low-cost access to a large choice of equipment, allowing businesses to choose the best machinery for their projects. The market benefits from rising demand caused by infrastructure development, urbanization, and the need for specialized equipment for short-term demolition activities.

Key Takeaways from Market Study

• The US market for demolition equipment rental is highly lucrative growing at a CAGR of 6.8% during the forecast period
• In 2018, the demolition equipment rental market had a valuation of US$ 154.8 million
• Historic growth of the German demolition equipment rental market was 8.1% between 2018 to 2022
• By end-use industry, mining is estimated to account for a market share of 26.2% in 2023
• Excavators are likely to grow at a CAGR of 7.0% during the forecast period creating an absolute $ opportunity of US$ 45.2 million

“Rising ConsDemolition Industry Fuels Demand for Demolition Equipment Rental Services” says a Fact.MR analyst.

Country-wise Perspectives:

The United States's Demand for Demolition Equipment Rentals: Factors

The US government supports recycling efforts due to environmental concerns and a desire to reduce landfill rubbish. So, a rise in recycling programmes in the building industry is projected to fuel market expansion across the nation. Demolition equipment is necessary to carry out these tasks because it enables quick dismantling and material sorting for recycling.

Also, government regulations and rewards that promote eco-friendly construction methods like recycling increase demand for demolition equipment rental. Contractors put a lot of effort into adhering to these laws, developing their environmental reputation, and attracting clients that care about the environment.

As a result, the USA's expanding demolition industry forecasts strong demand for services related to renting out demolition equipment, resulting in an absolute $ potential of US$ 68.5 million throughout the projection year.

Market Growth Stratagems

Prominent market players include:-

• Byrne Equipment Rental,
• Finning International Inc.,
• Kirby-Smith Machinery,
• Komplet America,
• Liebherr-International AG,
• Maxim Crane Works, L.P.,
• Rentkart,
• Sunbelt Rentals,
• United Rental, and Warren CAT.

Maintaining a strong online presence through a user-friendly website and online booking platform is essential. Rental service providers allow customers to conveniently browse equipment options, check availability, and book rentals online. Some service providers also offer online payment options and provide detailed information about equipment specifications, usage instructions, and safety guidelines.

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Segmentation of Demolition Equipment Rental Industry Research Report 

• By Demolition Equipment Type:
  • Excavators
  • Wrecking Balls
  • Hammers
  • Skid Steer Loaders
  • Cranes
  • Bulldozers
  • Others
• By Weight Capacity:
  • Up to 50 tons
  • 50 tons to 100 tons
  • 100 tons to 150 tons
  • Above 150 tons
• By End-Use Industry:
  • Road Construction
  • Mining
  • Building Construction
  • Others (Government and Institutions, etc.)
• By Region:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa 

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the demolition equipment rental market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.

The study reveals essential insights on the basis of the demolition equipment type (excavators, wrecking balls, hammers, skid steer loaders, cranes, bulldozers, and others), weight capacity (up to 50 tons, 50 tons to 100 tons, 100 tons to 150 tons, above 150 tons), end-use industry (road construction, mining, building construction, others (government and institutions, etc.)), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).

Explore More Related Studies Published by Fact.MR Research: 

Construction Equipment Rental Market: The global construction equipment rental market is projected to reach a market size of US$ 185 Billion by 2032.

Concrete Mixer Rental Market: Worldwide demand for concrete mixer rental is expected to reach US$ 5.7 billion by 2033-end.

Concrete Saw Rental Market: The US market size of concrete saw rental was US$ 107.9 million in 2022 and is expected to reach a valuation of US$ 191.2 million by 2033 creating an absolute $ opportunity of US$ 83.3 million during the forecast period.

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