Brazil Construction Equipment Rental Market Overview, 2028

Brazil Construction Equipment Rental Market Overview, 2028

The third-largest economy in the Americas is Brazil, which has a diversified economy with intermediate income levels and is still developing. Brazil will have the 12th largest GDP and the 8th largest purchasing power parity in 2022, according to the International Monetary Fund (IMF). In Brazil, the construction rental equipment market is increasing these days because there are major construction projects and redevelopment projects. For that reason, the rental equipment market is growing, and the government takes the initiative for large development projects. In 2022, the government's push for investment in projects including renewable energy, transportation, ports, and infrastructure is projected to have a beneficial effect on Brazil's demand for construction rental equipment. The Brazilian government intends to spend about $30 billion in 2021 on the construction of transportation infrastructure. In 2022, an additional $16 billion in investment is anticipated for the construction of 14 highways. In Rio de Janeiro, Santos Dumont, and Sao Paulo, airport development projects are in the works. $19.2 billion has been set aside for the port's modernization. Five terminals at the ports of Sao Luis, Maranhao, and Rio Grande do Sul are included in the project.

According to the research report Brazil Construction Equipment Rental Market Overview, 2028, published by Bonafide Research, the Brazil Construction Equipment Rental market is expected to add USD 0.46 Billion by 2028. Brazil's construction equipment rental market is expanding.The Fortaleza Sustainable Urban Development Project is another construction endeavour in Brazil. The Bolsa Familia social assistance programme makes up one-third of Brazil's development initiatives. Government-funded research carried out by organisations like the Embrapa Institute has supported Brazil's agricultural development. The Piaui Pillars of Growth and Social Inclusion Project for Brazil is one of the development initiatives in Brazil that focuses on societal development and inclusion. From there, the demand in the rental equipment market is high.

In order to improve its position in the rapidly increasing markets in South America, JCB's new $100 million factory in Brazil was formally launched by British Prime Minister David Cameron. The Brazilian government intends to spend about $30 billion in 2021 on the construction of transportation infrastructure. In 2022, an additional $16 billion in investment is anticipated for the construction of 14 highways. In Rio de Janeiro, Santos Dumont, and Sao Paulo, airport development projects are in the works. $19.2 billion has been set aside for the port's modernization. Five terminals at the ports of Sao Luis, Maranhao, and Rio Grande do Sul are included in the project. The government wants to reach its objective of becoming carbon neutral in the near future, which has prompted investments in hydroelectric, solar, and wind power projects all around the nation. Financial institutions' initiatives to subsidise the installation of renewable energy facilities and provide simple financing options aid in the development of renewable energy projects in the country.

According to the equipment rental platform, builders and contractors are renting more equipment than they are buying it. Many business leaders and economists are bracing for a recession, which would force enterprises to rent equipment rather than buy or lease it. Construction companies are cautious about costs like these. The unpredictable state of the economy and the high price of equipment force businesses to get the most out of their acquisitions. This makes renting equipment a viable choice, which is promoting the expansion of the market for construction equipment rentals. Similarly, the construction and industrial equipment rental sector will grow by 8.5 per cent this year, reaching $4.1 billion. Factors behind this growth include improved industrial production, rising oil sands investments and improvement in the construction sector. An anticipated further 6 per cent growth next year will drive the sector above.

COVID-19 impact:
The construction equipment rental market in Brazil is unaffected by the COVID-19 pandemic, which is expected to have little impact on the market in 2020 due to the country's lockdown period. and bounce back again in the year 2021.

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

Aspects covered in this report
• Brazil 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.