According to TechSci Research report, “Australia Construction Equipment Rental Market By Equipment Type, Competition Forecast & Opportunities, 2014 - 2024”, Australia construction equipment rental market is projected to grow at a CAGR of over 4% during the forecast period, owing to the country’s reviving construction industry and high purchasing cost of construction equipment, due to which, an increasing number of construction companies prefer procuring construction equipment on rent. Moreover, major projects such as Yamarna Gas Pipeline, University of Tasmania, Stockyard Hill Wind Farm, Oaklands Crossing rail project, etc., are in the pipeline, which is expected to continue supporting demand for construction equipment rental services in Australia during the forecast period.
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Excavator segment dominated the country’s construction equipment rental market, and the segment is expected to lead the market during the forecast period as well, owing to their use across residential and commercial set-ups for excavating, moving the construction material, removing the waste of the construction, etc. A large demand for construction equipment rental emanates from Australia Capital Territory & New South Wales on the back of a huge number of large-scale projects being undertaken in the region. The region is followed by Victoria & Tasmania and Queensland, which are also contributing to the growth of country’s construction equipment rental market.
“Favorable government policies regarding construction projects, growing number of real estate and housing projects and surging foreign investments in equipment rental market, are anticipated to steer growth in Australia construction equipment rental market over the coming years. Moreover, rising preference for hiring construction equipment on rent rather than buying the new ones is further expected to fuel demand for construction equipment rental service during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Australia Construction Equipment Rental Market By Equipment Type, Competition Forecast & Opportunities, 2014 - 2024” has analyzed the potential of construction equipment rental market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.
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