The US Rental Equipment Market has Increased Significantly During the Years 2016-2018 and Projections are made that the Market Would rise in the next four Years i.e. 2019-2023
Scope of the Report
The report entitled “The US Rental Equipment Market: Size, Trends and Forecast (2019-2023 Edition)” provides an in-depth analysis of the US rental equipment market including detailed description of market sizing and growth. The report provides an analysis of the US rental equipment market by value, by penetration rate and includes segment analysis as well.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US rental equipment market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the US rental equipment market are United Rentals, Inc., Ashtead Group (Sunbelt), Herc Holdings Inc. and The Home Depot, Inc. The four companies have been profiled in the report providing their business overview, financial overview and business strategies.
Company Coverage
- United Rentals, Inc.
- Ashtead Group (Sunbelt)
- Herc Holdings Inc
- The Home Depot, Inc.
Table of Contents
1. Executive Summary
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Executive Summary
The rental equipment includes different machineries and tools of various types and sizes, which is provided by the rental companies on 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.
Rental equipment can help many industries to fulfill the seasonal demand of equipment. The main benefits of the rental equipment include the catering to short-term equipment need, 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 rental equipment 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 rental equipment market can be further segmented on the basis of type (Earthmoving Machinery, Material Handing Machinery and Concrete Road Construction).
The US rental equipment market has increased significantly during the years 2016-2018 and projections are made that the market would rise in the next four years i.e. 2019-2023 tremendously. The rental equipment market is expected to increase due to growing construction spending, escalating oil and natural gas production, rising employment, soaring investment in rental equipment, increasing labor cost, etc. Yet the market faces some challenges such as complex business and use of rental equipment by unqualified operators, etc.
Companies Mentioned
- Ashtead Group (Sunbelt)
- Herc Holdings Inc.
- The Home Depot, Inc.
- United Rentals, Inc.
