Market Size of India Construction Equipment Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Construction Equipment Rental Market Analysis
The India construction equipment rental market (henceforth referred to as the market studied) is anticipated to register a CAGR of about 5.1 % during the forecast period (2020 - 2025).
- The increasing focus on infrastructure and development of automation in the construction and manufacturing processes had a significant impact on the market growth. The road construction machinery market has witnessed significant growth in the recent past, owing to the increased road development programs undertaken by the central and state government.
- The renting or leasing of construction equipment has been on the rise, owing to the equipment cost and the cost of the maintenance process. Apart from the cost, there are also other benefits associated with renting the construction equipment. Rental companies provide the machinery, along with the required professional machine operators and drivers, included in the rent.
- For short-term construction application, renting a machinery has been preferable than a purchase among construction contractors, as renting allows optimum utilization of the machinery.
- India has nearly 1,263 construction projects in progress across various sectors, such as power, road, railways, telecom, and shipping. Additionally, the growing demand for office space in tier 1 and 2 cities is anticipated to continue to increase the demand for rental construction equipment in the country during the forecast period.
