US Equipment Rental Market 2020 – 2024: United Rentals, Inc., Ashtead Group (Sunbelt), Herc Holdings Inc.

By: X herald

The US Equipment Rental Market Research Report Forecast 2020 – 2024 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). It provides an in-depth study of the US Equipment Rental market by using SWOT analysis. This gives a complete analysis of drivers, restraints and opportunities of the market. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report. 

Top Key Players in the US Equipment Rental Market: United Rentals, Inc., Ashtead Group (Sunbelt), Herc Holdings Inc. and The Home Depot, Inc.

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Executive Summary

The equipment rental includes different types of machinery and tools of various types and sizes, which is provided by the rental companies on the lease or on rent. The equipment is used by the customers for a limited span of time. The customers need to pay rental charges to the rental companies, along with some extra charging elements, such as travel cost, installation or services cost, etc.

Equipment Rental can help many industries to fulfill the seasonal demand for equipment. The main benefits of the Equipment Rental include catering to short-term equipment needs, forgoing the upfront investment, decreasing long-run expense, saving tax, solving equipment storage issues, shielding from market fluctuation and eliminating the responsibility of testing, maintenance and service.

The equipment rental market can be segmented on the basis of type (Party and Event Equipment, General Tools & Construction and Industrial Equipment) and industry (Oil & Gas Industry, Construction Industry, Mining Industry & Power Industry). The construction and Industrial Equipment Rental market can be further segmented on the basis of type (Earthmoving Machinery, Material Handling Machinery and Concrete Road Construction).

The US equipment rental market has increased significantly during the years 2016-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024 tremendously. The growth of the equipment rental market through the historic period was supported by growing construction spending, escalating oil and natural gas production, rising employment, soaring investment in equipment rental, increasing labor cost, etc. Yet the market faces some challenges such as complex business and use of Equipment Rental by unqualified operators, etc.

The Covid-19 pandemic is a headwind to the equipment rental market as a restriction on construction activities and bans on social gatherings/ parties has dampened demand for equipment like an earthmoving machine, road and bridge construction equipment, light and sound system, etc. However, it is expected that as the impact of Covid-19 subsides and lockdowns are relaxed, economic activities would restart throughout the US. This in turn would reinvigorate the demand for various equipment. Thus, helping the equipment rental market in the country to recover gradually from the impact of the pandemic.

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Influence of the US Equipment Rental Market report:

-Comprehensive assessment of all opportunities and risks in the US Equipment Rental Market.

-US Equipment Rental Market recent innovations and major events.

-A Detailed study of business strategies for the growth of the US Equipment Rental Market-leading players.

-Conclusive study about the growth plot of US Equipment Rental Market for forthcoming years.

-In-depth understanding of US Equipment Rental Market -particular drivers, constraints and major micro markets.

-Favorable impression inside vital technological and market latest trends striking the US Equipment Rental Market.

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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

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