DUBLIN--(BUSINESS WIRE)--The "The US Equipment Rental Market: Size and Forecasts with Impact Analysis of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering
This report provides an in-depth analysis of the US equipment rental market including a detailed description of the impact of COVID-19 followed by an analysis of the market in terms of value and segments.
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 equipment rental market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
- United Rentals Inc.
- Ashtead Group (Sunbelt)
- Herc Holdings Inc.
- The Home Depot Inc.
Equipment rental includes different types of machinery and tools of various types and sizes, which is provided by rental companies on a 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 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 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.
Key Topics Covered:
1. Executive Summary
3. The US Market Analysis
3.1 The US Equipment Rental Market: An Analysis
3.2 The US Equipment Rental Market: Segment Analysis
4. Impact of COVID-19
4.1 Impact on the US Equipment Rental Market
4.1.1 Scenario of the US Equipment Rental Market as of March 2020
4.2 Impact on the US Construction and Industrial Equipment Rental Market
4.2.1 Scenario of the US Construction and Industrial Equipment Rental Market as on
4.3 Impact on the US Event and Party Rental Market
4.3.1 Scenario of the US Event and Party Equipment Rental Market as on June 2020
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Construction Spending
5.1.2 Escalating Oil and Natural Gas Production
5.1.3 Rising Employment
5.1.4 Soaring Investment in Equipment Rental
5.1.5 Increasing Labor Cost
5.1.6 Rapid Urbanization
5.1.7 Rising GDP
5.2.1 Complex Business
5.2.2 Use of Equipment Rental by Unqualified Operators
5.3 Market Trends
5.3.1 Surging Infrastructure Investment
5.3.2 Emergence of Deep Sea Mining
5.3.3 Increasing Preference of Heavy Equipment Rental
6. Competitive Landscape
6.1 The US Equipment Rental Players by Market Share
6.2 The US Equipment Rental Market Players: Financial Comparison
7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/dqzgk9