Australia Construction Equipment Rental Market to grow at a CAGR of over 4% during the forecast period
Rising government expenditure for economic
revival coupled with booming construction & infrastructure sectors to drive
Australia construction equipment rental market through 2024
According
to TechSci Research report, “Australia Construction Equipment Rental Market By Equipment Type,
Competition Forecast & Opportunities, 2014 - 2024”, Australia construction equipment rental
market is projected to grow at a CAGR of over 4% during the forecast period, owing
to the country’s reviving construction industry and high purchasing cost of
construction equipment, due to which, an increasing number of construction
companies prefer procuring construction equipment on rent. Moreover, major
projects such as Yamarna Gas Pipeline, University of Tasmania, Stockyard
Hill Wind Farm, Oaklands Crossing rail project, etc., are in the pipeline,
which is expected to continue supporting demand for construction equipment rental
services in Australia during the forecast period.
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Excavator
segment dominated the country’s construction equipment rental market, and the
segment is expected to lead the market during the forecast period as well, owing
to their use across residential and commercial set-ups for excavating, moving
the construction material, removing the waste of the construction, etc. A large
demand for construction equipment rental emanates from Australia Capital
Territory & New South Wales on the back of a huge number of large-scale
projects being undertaken in the region. The region is followed by Victoria
& Tasmania and Queensland, which are also contributing to the growth of country’s
construction equipment rental market.
“Favorable government policies regarding construction
projects, growing number of real estate and housing projects and surging
foreign investments in equipment rental market, are anticipated to steer growth
in Australia construction equipment rental market over the coming years.
Moreover, rising preference for hiring construction equipment on rent rather
than buying the new ones is further expected to fuel demand for construction
equipment rental service during the forecast period.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
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“Australia Construction
Equipment Rental Market By Equipment Type, Competition Forecast &
Opportunities, 2014 - 2024” has analyzed the potential of construction equipment rental market across the country,
and provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by the industry.
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