The US Rental Equipment Market: Size, Trends & Forecasts (2017-2021)
Scope of the Report
The report entitled “The US Rental Equipment Market: Size, Trends & Forecasts (2017-2021)”, provides analysis of the US rental equipment market, with detailed analysis of market size and growth, and segmentation of the industry. The analysis includes the market by value, by penetration rate, and by segmentation.
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 overall US rental equipment market has also been forecasted for the years 2017-2021, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
United Rentals, Ashtead Group (Sunbelt), Herc Rentals and Home Depot are some of the key players operating in the US rental equipment market, whose company profiling has been done in the report. In this segment of the report, business overview, financial overview and business strategies of the companies are provided.
United Rentals Ashtead Group (Sunbelt) Herc Rentals Home Depot
All the electrical instruments which are used for specific services and tasks are defined as equipments. Equipments are used because they increase productivity, improves the quality of work, are easy to maintain and use, etc. There are broadly three types of equipments: mechanical equipments, manual equipments and powered equipments.
Usually heavy equipments are taken on rent. Rental equipments is a service where different types of equipments are provided on rent for an agreed time duration. Rental programs are of three types based on the time duration of rent. These are emergency/unplanned rentals for same day equipment delivery, short term rental for a month long rent of the equipment and long-term rental for more than a month long rent of the ordered machines/equipment.
There are three rental equipment segments, namely construction and industrial equipments where big/heavy equipments which are used for construction and other manufacturing processes; general tools where normal regular equipments are provided and party & events where different equipments related to the events field like staging and lighting are provided on rent. There are many end users for equipment renting: facilities and municipalities, entertainment and special events, data centers, construction and emergency. Renting of equipments comprises of many benefits such as flexible contract periods, availability of latest technology, tax saving, relieving from storage and transportation cost, etc.
The US rental equipment market is expected to increase at high growth rates during the forecasted period (2017-2021). The US rental equipment market is supported by various growth drivers, such as improving economic understanding of customers, expanding range of renting equipment, fragmented and highly diverse customer base, etc. Yet, the market faces certain challenges, such as, uncertainties in global economic growth, lack of services available in remote areas, etc. Few new market trends are also provided such as, growing trend of joint ventures, rising need to replace outdated equipments, etc.