Apr 11, 2019 (Heraldkeeper via COMTEX) — Global Market Insights has announced the launch of Construction Equipment Rental Market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.
Construction Equipment Rental Market in the Asia Pacific is expected to reach over USD 40 billion by 2024. The emerging trend of the organizations toward renting of heavy construction machinery will have a positive impact on the industry demand. Rising wage rates in China coupled with the changing consumption patterns are generating a huge demand for the rental machinery. Countries including India will witness significant growth over the forecast timeline. The growth can be attributed to the rising number of high-scale infrastructure projects undertaken by the government such as Chardham Highway Project, Setu Bharatam Project, Bharatmala Project, and Gujarat-Gorakhpur Gas Pipeline.