LONDON--(BUSINESS WIRE)--The global equipment rental market is expected to grow at a CAGR of more than 3% from 2017-2021, according to a new market research report by Technavio.
Global equipment rental market segmentation by end-user and geography
Technavio’s report on the global equipment rental market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user, which includes oil and gas industry, construction industry, mining industry, and power industry. As projected in 2016, around 29% of the market share originated from the oil and gas segment.
Based on geography, the global equipment rental market has been segmented into the Americas, APAC, and EMEA. As of 2016, 37% of the market share came from the Americas.
“The equipment rental market in the Americas is dominated by the US. This is followed by Canada and Brazil. Drilling and production of crude oil comprise one of the major market potentials for the rental companies in the region. This is mainly attributed to the huge reserves of shale in the US and Canada. The market potential for construction rental equipment is also expected to boost market growth during the forecast period,” says Neelesh Prakash Singh, a lead analyst at Technavio for engineering tools research.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Equipment rental market: competitive vendor landscape
The market for the global equipment rental market is fragmented. Rental companies that have niche technologies and provide a range of technology-driven equipment that not only reduces the operating time and the overall operating cost for the service companies but also requires less maintenance. Key vendors such as Atlas Copco, Caterpillar, Hertz Equipment Rental, Sunbelt Rentals, and United Rentals are the major market shareholders.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Other topics covered in the report:
Market drivers:
- Advantages of renting equipment for short-term projects
- Increasing oil and gas consumption
Market challenges:
- Fluctuations in oil and gas prices
- Environmental impact due to end-user industries
Market trends:
- Rental equipment monitoring
- Deep-sea mining
Get a sample copy of the global equipment rental market report free of cost
Access Technavio’s continuously growing engineering tools research library and find expert analysis on hundreds of markets.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
