PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1228227
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1228227
The Germany construction equipment rental market is expected to grow at a CAGR of approximately 4.65% from 2022 to 2029.
KEY HIGHLIGHTS
MARKET TRENDS & DRIVERS
A Surge in Inflation Rate & Energy Prices Supports Construction Rental Market
In 2022, Germany faced the challenge of rising inflation and persistently high energy prices, impacting consumer purchasing power and the country's economic growth. The inflation rate rose to 10.4% in October 2022. The inflation rate also impacted the construction industry and affected projects' estimated budget, leading to revision and higher costs than the project's estimated budget. Rising labors & building material costs are major challenges the German construction industry witnessed in 2022. According to the Federal Statistical Office, building materials such as wood (64.1%), steel (53.2%) & iron (25.4%) prices rose in 2022 as compared to 2021. Sharp rise in inflation, high energy prices, & growing prices of building materials are expected to support the Germany construction equipment rental market growth. The ongoing war between Russia & Ukraine further worsens the country's market challenges. According to IMF, Germany is expected to continue facing rising inflation rates in 2023.
Renting Companies Facilities Drive Growth of Construction Equipment Rental Market
The value of equipment leasing in Europe was USD 25.6 billion in 2021, according to Equipment Rental Association (ERA), and Germany is one of the largest markets for equipment leasing in Europe. According to ERA, the German rental and leasing market of construction machinery grew by 4.2% in 2021. The equipment renting industry is expected to grow primarily owing to the presence of small and medium-sized construction companies, such as Bagela Baumaschinen GmbH & Co., Multimon Group, and Miltex GmbH. Zeppelin GmbH and HKL Baumaschinen GmbH account for the industry market share in construction equipment rental & leasing in Germany.
Some construction machinery rental companies are providing trained operators for operating rented equipment. Other construction equipment rental companies are also providing logistics & insurance facilities to attract new customers. For instance, Klarx renting construction machinery company provides logistics & insurance facilities to its customer.
Construction Equipment Rental Companies Focus on Digital Technologies
German Tech company UMT (United Mobility Technology) launched an online rental marketplace called Smart Rental based on Mobile App in 2022. The company also develops the technology to digitize business processes, including online payment tools & equipment testing tools. Smart Rental joins other online rental marketplaces such as Klarx and Klickrent (owned by construction equipment rental company Zeppelin Group) to increase the customer service base. The use of these technologies grew in 2022 due to a surge in Germany construction equipment rental market.
Segmentation by Type
VENDOR LANDSCAPE
Key Vendors
Other Prominent Vendors
Rental Companies Profile
KEY QUESTIONS ANSWERED:
Section 1 - Introduction
Section 2 - The Market Overview
Economic Scenario, Major Infrastructure Projects
Section 3 - Market Landscape
3.1 Germany Construction Equipment Rental Market by Type (Volume & Value)
3.1.1. Earth Moving Equipment
1. Crane
2. Forklift and Telescopic Handler
3. Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)
1. Road Roller
2. Asphalt Paver
1. Construction
2. Mining
3. Warehouse & Logistics Industry
4. Others (Waste Management, Agriculture, Oil & gas Extraction, Utilities & Energy, Power Generation, Disaster Management & Water Management)
Section 4: Market Dynamics
Market Drivers, Restraints, Trends, Advantage Germany, Key Economic Regions, Rental Construction Equipment Circular Model, Advantage of Rental Equipment, Parameters Required to Consider before Renting Construction Equipment, Average Price of Renting Equipment, Equipment Supply Chain Analysis, COVID-19 Impact
Section 5: Technology Development
Advent of New Technology
Section 6 - Competitive Landscape
Section 7-Quantitative Summary
Section 8 - Report Summary
Section 9 - Report Scope & Definition
List of Graphs:
List of Tables: