MarkNtel Advisors recently released a research report focusing on the Southeast Asia Construction Equipment Rental Market for the forecast period of 2023-28. This approach enhances user understanding and supports well-informed decision-making. The report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges using qualitative and quantitative data. To familiarize established businesses and newcomers with the present market scenario, the report offers detailed growth prospects for the industry and concise insights into competitors.
Southeast Asia Construction Equipment Rental Market Insight and Analysis:
The Southeast Asia Construction Equipment Rental market is projected to grow at a CAGR of around 7.52% during the forecast period, i.e., 2023-28.
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Southeast Asia Construction Equipment Rental Industry Segmentation:
By Type
-Earthmoving Equipment – Market Size & Forecast 2018-2028, (USD Million)
-Excavator – Market Size & Forecast 2018-2028, (USD Million)
-Loader – Market Size & Forecast 2018-2028, (USD Million)
-Grader – Market Size & Forecast 2018-2028, (USD Million)
-Bulldozer – Market Size & Forecast 2018-2028, (USD Million)
-Material Handling Equipment – Market Size & Forecast 2018-2028, (USD Million)
-Forklifts – Market Size & Forecast 2018-2028, (USD Million)
-Cranes – Market Size & Forecast 2018-2028, (USD Million)
-Road Building & Concrete – Market Size & Forecast 2018-2028, (USD Million)
-Road Roller – Market Size & Forecast 2018-2028, (USD Million)
-Paver – Market Size & Forecast 2018-2028, (USD Million)
By End Users
-Residential – Market Size & Forecast 2018-2028, (USD Million)
-Commercial & Retail (Hotels, Malls, Theatres, etc.) – Market Size & Forecast 2018-2028, (USD Million)
-Healthcare – Market Size & Forecast 2018-2028, (USD Million)
-Government & Infrastructure – Market Size & Forecast 2018-2028, (USD Million)
-Industrial (Manufacturing Facilities, Power & Utilities, etc.) – Market Size & Forecast 2018-2028, (USD Million)
-Others (Education Institutions, Religious Centres, etc.) – Market Size & Forecast 2018-2028, (USD Million)
Southeast Asia Construction Equipment Rental Market (2023-28): Segmentation Analysis
The Southeast Asia Construction Equipment Rental Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:
Based on Type:
- Earthmoving Equipment
- Excavator
- Loader
- Grader
- Bulldozer
- Material Handling Equipment
- Forklifts
- Cranes
- Road Building & Concrete
- Road Roller
- Paver
Earthmoving Equipment witnessed significant growth during 2018-22, majorly because of their versatile usage in earthworks, required during different construction projects in residential & commercial sectors. Earthmoving equipment is primarily employed at construction sites for moving & digging a large amount of earth to establish foundations for large buildings. Therefore, the surge in construction activities across the region, along with rapid industrialization, which has led to a spike in the number of construction projects, has enhanced the demand for earthmoving equipment on rentals at construction sites, further enhancing the Southeast Asia Construction Equipment Rental Market size.
Besides, the requirement for Material Handling Equipment like forklifts & cranes is also enhancing significantly, owing to the rising construction of high-rise buildings across the region. Therefore, the market demand for material handling equipment on rent is supplementing, owing to the high market cost of buying, which enhances their rental adoption by contractors in the coming years, thus contributing to creating a positive outlook for the Southeast Asia Construction Equipment Rental Market.
Based on End Users:
- Residential
- Commercial & Retail (Hotels, Malls, Theatres, etc.)
- Healthcare
- Government & Infrastructure
- Industrial (Manufacturing Facilities, Power & Utilities, etc.)
- Others (Education Institutions, Religious Centres, etc.)
The Residential Sector is anticipated to acquire the largest share of the Southeast Asia Construction Equipment Rental market during 2018-22. It is majorly because of the rising population & urbanization that led to increasing government support, which has improved the number of residential projects across the region. The increasing number of residential projects, especially in Malaysia & Vietnam, has supported the enhanced demand for rental construction equipment across the region.
Further, the rising public-private partnerships across the region to enhance the infrastructure projects related to residential housing have been improving the demand for rental construction equipment during the historical period. Nevertheless, the rising development of healthcare sectors integrated with advanced technology supports the growth of the healthcare industry.
With the growing numbers of diseases like respiratory, cancers, etc., across the region, the governments of countries like Thailand, Vietnam, etc., are actively investing in the construction of the healthcare sector to provide proper medical care to the patients. Hence, with the rising construction of healthcare units, the market demand for rental construction equipment is projected to upscale from this segment during 2023-28.
Southeast Asia Construction Equipment Rental Market Regional Projections:
Geographically, the Southeast Asia Construction Equipment Rental Market expands across:
- Singapore
- Indonesia
- Malaysia
- Thailand
- Vietnam
- Philippines
- Rest of Southeast Asia
Thailand is anticipated to hold the major market share across the region during 2018-22. Public spending on renewable, infrastructure, industrial, and residential constructions has been increasing significantly for the past few years, as construction in the country plays a critical role in developing the nation’s economy. With the economic diversification in the country, and the growth of industrial sectors, construction projects are rising considerably.
Further, the government’s plan to develop chemical & pharmaceutical industries led to attracting several foreign companies to expand their presence across the country. Consequently, the foreign companies enhanced their investments to expand their manufacturing facilities across the country & also enrich the construction work. Hence, the growing foreign & government investments to uplift construction activities across the country have been supporting the Southeast Asia Construction Equipment Rental Market.
Geographical overview:
-Singapore
-Indonesia
-Malaysia
-Thailand
-Vietnam
-Philippines
-Rest of Southeast Asia.
The Southeast Asia Construction Equipment Rental Market Trend:
Integration of Telematics & Automation in Construction Equipment by Rental Companies – The integration of telematics with construction equipment allows rental companies & end-users to track a variety of data & information linked to it, which has increased the demand for the equipment by rentals among contractors, hence encouraging the growth of the Southeast Asia Construction Equipment Rental Market. By using telematics, rental market players & contractors can monitor the exact location of their construction assets, reducing the chances of thefts related to them.
Telematics technology also provides data analytics, which helps the market end-users to track the performance of the equipment & to determine its maintenance time. Additionally, telematics integrated with construction equipment could track idle time, wear & tear, engine hours, and fuel consumption. The increasing automation of construction equipment like robots, conveyors, lifters, and turn-over machines, which enhances the safety & efficiency of the construction process, uplifts their usage across the region.
Top Leading key players of Southeast Asia Construction Equipment Rental Market
A thorough examination of the competitive landscape of the market involves a comprehensive analysis of its key competitors. This analysis delves deep into each company’s profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic initiatives in the market, footprint, strengths, weaknesses, and market dominance. The information provided offers a comprehensive overview of the leading market players, including –
-Nishio Rentall
-Kanamoto Co., Ltd.
-Aktio Co., Ltd.
-Nikken Corporation
-Sumitomo Corporation
-PT Coates Indonesia
-Tat Hong
-Dingchang Group
-Ravago Equipment Rentals
-Sin Heng Heavy Machinery
-Guzent.
The Southeast Asia Construction Equipment Rental Market report addresses the following concern:
- The Southeast Asia Construction Equipment Rental Market report explores the influence of key trends on market share within the primary segments.
- What are the leading market trends that propel the expansion of the Southeast Asia Construction Equipment Rental market?
- What are the projected CAGR, market size, and growth rate for the Southeast Asia Construction Equipment Rental Market in the upcoming years?
- What are the key players in the Southeast Asia Construction Equipment Rental market, and what strategies are they implementing?
- What factors, such as industry trends, drivers, and challenges, are contributing to the growth of the Southeast Asia Construction Equipment Rental market?
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