Construction Equipment Rental Market size Analysis with Key Competitors 2022- Revenue, Business Size, and Opportunities Forecast to 2030

Overview:

The global report on the construction equipment rental market is predicted to rise by 5.15% CAGR during the forecast period of 2022 to 2030. Market Research Future (MRFR), in its attempt to know more about the market, analyzed factors like the rising inclusion of better technologies, a huge surge in construction activities in the Asia Pacific region, investment influx in the construction sector, increased competition among players, innovation in methods of handling the situation, and others. Rising labor costs are also a reason for the growth of this sector. 

However, the market may suffer from the lack of expert hands who can operate advanced machines. 

Segmentation:

The global Construction Equipment Rental Market size includes a proper discussion of segments like equipment type and application. These segments further reveal details about various factors that can impact the strategic output of players involved in the market.

By equipment type, the study of the construction equipment rental market includes material handling, earthmoving, and concrete & road construction. The earthmoving segment comprises a study of loader, excavator, motor grader, backhoe, and others. The material handling segment studied segments like trailer mounted crane, crawler crane, and truck mounted crane. The earthmoving segment had the largest market share in 2022 and it will continue its dominance till 2030. This will be bolstered by ongoing construction activities in the Asia Pacific region. The material handling segment would record the maximum growth during the forecast period due to increased demand for truck-mounted cranes, crawler cranes, and trailer-mounted cranes for mega infrastructure projects, especially in countries like China, India, and UAE. 

By application, the report of the construction equipment rental market includes non-residential, residential, and infrastructure. The residential segment had the maximum market share in 2017, which the segment is expected to retain till 2030. The infrastructure segment is expected to record maximum growth during the forecast period as demand for products related to it is slated to rise in China and India. 

Competitive Landscape:

Ashtead Group, Ahern Rentals, Inc., Caterpillar, Inc., Blueline Rental LLC, Shanghai Hongxin Equipment Engineering Co., Ltd., Cramo PLC, Riwal, United Rentals, Inc, Herc Holdings, Nesco Rentals, and others are making a prominent impact on the construction equipment rental market. MRFR analysts have included the latest doings of these companies to understand trends that are impacting the market and may transform the flow of the market. 

Regional Analysis:

Asia Pacific has the chance to dominate the global construction equipment rental market. In 2017, the region covered more than 40% of the market space. This regional market is expected to be bolstered by increasing construction activities in developing countries. 

Industry News:

In August 2020, Volvo CE launched a new project that looks further ahead and is expected to set a premise for the company’s future plans. This project has been named “Building Tomorrow.” In this endeavor, the company has teamed up with professional futurists to understand their forecasts for the industries in which the customers of Volvo CE work. This spans across industries like agriculture, construction, mining, and infrastructure. These futurists are known for their forecasts on technology, science, and business. Their process helps companies understand how transformations would take place and how companies can benefit from these.

Such futuristic measures may become a common practice now as the market has been pummeled by the COVID-19 crisis. Many countries had to stall their construction activities to stop the disease from spreading, which directly affected the sector. 

Sodium Chloride Industry | Insights, Industry Development, and Forecast 2028

Sodium chloride is universally known as common salt and used in excess quantities by various end-use industries. It is generally obtained by evaporation of seawater or brine via vacuum evaporation or solar methods. It is produced in large quantities to serve the demands of wastewater treatment, chemicals, and oil & gas. The global sodium chloride market report by Market Research Future (MRFR) outlines several pertinent factors, drivers, opportunities, and drawbacks for the period between 2020 and 2027 (forecast period).

Segmentation Analysis

The global Sodium Chloride Industry has been segmented on the basis of type, manufacturing process, grade, and application.

Based on type, the global sodium chloride market has been classified into rock salt, solar salt, and others (brine and vacuum). Solar salt is expected to be the biggest segment throughout the forecast period owing to applications in foods & beverages.

By manufacturing process, the global sodium chloride market has been bifurcated into solar evaporation and artificial evaporation. Solar evaporation is projected to be the fastest growing segment during the forecast period owing to its ease in processing due to abundance of electricity gained from renewable energy plants.

On the basis of grade, the global sodium chloride market has been categorized into food grade, pharmaceutical grade, and technical grade. Technical grade was the leading segment in 2018 and will continue its dominance till 2025 due to demand for technical grade sodium chloride in water softening and drilling fluid applications.

Based on application, the global sodium chloride market has been segmented into water conditioning, chemical intermediates, animal feed additive, de-icing, flavoring agents and food preservatives, agriculture, pharmaceutical ingredient, drilling fluids, and others. Chemical intermediates accounted for the largest market share in 2018 and estimated to exhibit a stupendous CAGR during the forecast period due to the utilization of NaCl in chlor-alkali chemicals such as caustic soda.

Competitive Outlook

The Henrique Lage Salineira do Nordeste, Maldon Crystal Salt Co, ICL Fertilizers, Dow, Cargill, Incorporated, Dominion Salt, Compass Minerals, K+S AKTIENGESELLSCHAFT, Rio Tinto Limited, Tata Chemicals Ltd, Morton Salt, Inc, jinleichem, and Akzo Nobel N.V. are reputed companies currently operating in the global sodium chloride market.

Market Outlook

The global sodium chloride market size can touch a value of USD 21.3 billion by 2027 while exhibiting a CAGR of 3.4% during the forecast period. Applications in de-icing and production of chlor-alkali products such as chlorine, soda ash, and caustic soda can drive the market demand to new heights. In addition, de-icing of snow in countries with cold climes and low cost of raw materials can drive the market demand.

The application of salt in preservation of pickles and processed meat can further the global sodium chloride market growth. Massive demand for salt in pharmaceutical and animal feed can create massive lucrative opportunities of growth for the market. Easy availability and production of salt in coastal countries will allow producers to shift their strategies to create vertical units and drive up the market volume of sodium chloride cost.

However, high intake of massive amounts of NaCl and production complexities encountered during its storage can prove challenging for the market.

Regional Analysis

The Middle East & Africa (MEA), North America, Europe, Latin America, and Asia Pacific (APAC) are major regions in the global sodium chloride market.

The APAC region is presumed to dominate the global market during the forecast period owing to growing industries of oil & gas, animal husbandry, medical, and agriculture. Due to the presence of large salt-water bodies, abundance of salt, and consumption of flavoring agents can bolster the sodium chloride market growth. China is one of the biggest producers of NaCl due to applications in chlor-alkali, water softening, and drilling fluids.