According to estimates, the market for renting demolition equipment will increase at a 6.1% CAGR from US$ 210.5 million in 2023 to US$ 380.6 million in 2033, representing a US$ 170.1 million absolute potential.
The construction and demolition industries require a variety of demolition tools, including hydraulic excavators, wrecking balls, high-reach demolition machines, and concrete crushers. These flexible tools can be used to create and demolish structures with flexibility and precision, catering to the various demands of contractors and the construction industry. Demolition equipment rental companies may see more business as a result of the rising demand for such equipment.
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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.
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
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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).