Australia Construction Equipment Rental Market Overview, 2028

Australia Construction Equipment Rental Market Overview, 2028

The market for construction equipment in Australia is robust. In Australia, the market for equipment rentals is growing as a result of the development of the construction industry. As contractors and dealers choose to rent instead of buy to reduce the size of their fleets and the complexity of their organisations, which could otherwise have an impact on operations like asset disposal, logistics, maintenance, and procurement, the number of people using rental services is significantly growing. The demand for rental services is growing in tandem with the number of infrastructure projects, which is accelerating the expansion of the Australian equipment rental market.

According to the research report Australia Construction Equipment Rental Market Overview, 2028, published by Bonafide Research, the Australia Construction Equipment Rental market is expected to add USD 0.52 Billion by 2028. In Australia Due to small and medium firms' preference for renting or purchasing used equipment over brand-new equipment, the used construction equipment industry has a larger potential than the new one. The Australian government will devote an additional USD 15.2 billion on community, rail, and road infrastructure projects during the following few years. Over the course of the projects' existence, more than 30,000 jobs will be supported. The Australian construction rental equipment market will benefit from all of these government initiatives. The market is cutthroat, and vendors frequently launch new products by spending a lot of money on research and development. For instance, JCB introduced the first excavator powered by hydrogen in 2021.

By integrating their own technological systems, the key players in the equipment industry hope to boost machine intelligence. Telematics technologies make it easy to locate and track the performance of construction vehicles and equipment. Among the information sent through the system are the GPS location, the quantity of fuel used, and the length of idle time. However, the cost of setting up this system prevents many small builders and contractors from using it. The issue has been resolved by the equipment rental company, which eliminated the overall cost and offered rental options. Due to the aforementioned factors, the market for construction equipment is growing even more across the nation.

The market for renting construction equipment is divided into three categories based on the type of equipment used: earthmoving, material handling, and concrete and road construction.Earth movement equipment refers to mobile, motorised vehicles used to haul, spread, dig up, or move earth or other materials. These tools, such as excavators, loaders, dozers, and motor graders, are frequently used to move or remove substantial amounts of soil as well as to lay foundations and design landscapes. The choice of earthmoving equipment is heavily influenced by the volume of material to be moved, the type of soil already present, and compaction issues. Due to the increasing infrastructure investments being made to upgrade public and private infrastructures, businesses that hire earthmoving equipment now have a chance. Rent for earthmoving and material handling equipment is more expensive in Australia due to its high cost and the sizeable capital investment needed for installation.

Coates Hire, Westrac, Onsite Rental Group Ltd., Allcott Hire, Brooks Hire Service Pty Ltd., Porter Group, Kennards Hire, Plantman Equipment, Salmon Earthmoving Services, and Preston Hire are some of the prominent companies participating in Australia's construction equipment rental sector. The price of the machinery is different from equipment to equipment. that all players put construction equipment on rent for some period of time for construction or for development projects.

Covid 19 impact:
In Australia, the construction rental equipment market is not much affected by the COVID-19 pandemic. Construction rental equipment is increasing during certain times of the COVID-19 pandemic because the government has prioritised certain projects and infrastructure.so the market for rental equipment is not affected by pandemic.

Considered in this report
• Geography: Australia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Australia Construction Rental market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By equipment Type:
• Earthmoving
• Material handling
• Concrete and road construction

By Application Type:
• Residential
• Non residential
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Construction Rental industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.