Australia Construction Equipment Rental Market to Surpass $ 1 Billion by 2023
Rising government expenditure for economic
revival coupled with booming construction & infrastructure sectors to drive
Australia construction equipment rental market through 2023
According to TechSci Research report, “Australia Construction Equipment Rental Market By Equipment Type,
Competition Forecast & Opportunities, 2013 - 2023”, Australia
construction equipment rental market is projected to cross $ 1 billion by 2023,
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.
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, 2013 - 2023” 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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