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DUBLIN, Aug. 12, 2022 /PRNewswire/ — The “Heavy Construction Equipment Rental Market By Equipment, By End User, By Application: Global Opportunity Analysis and Industry Forecast, 2020-2030” report has been added to ResearchAndMarkets.com’s offering.
The heavy construction equipment rental market was valued at $76,371.9 million in 2020, and is projected to reach $117,788.8 million by 2030, registering a CAGR of 4.3% from 2021 to 2030. The heavy equipment rental is a service that allows end users to rent construction equipment for a certain period by signing a contract with terms and conditions of use.
Heavy equipment and machinery are used for heavy equipment work such as material handling, excavation, lifting, and other heavy work. Construction machinery is mainly used to facilitate heavy work at mine construction sites. There are various types of heavy equipment in the market. Nevertheless , choosing the right construction equipment is very important. When choosing heavy equipment, companies consider factors such as material, quality, project complexity, and safety.
Expansion of the heavy construction equipment rental industry is fueled by increase in building and mining operations in emerging economies of Latin America and Africa. The government of the US has invested heavily in development of highways, railway tracks, airports, and other infrastructure, necessitating the use of excavators, loaders, and other heavy equipment. For instance, US President Trump announced a $2 trillion infrastructure plan in March 2021which covers roads, telecommunications, electric grid, and residential & commercial buildings.
These elements create immense opportunities for the rental…
Full story available on Benzinga.com
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