Turkey Construction Equipment Rental Market to be dominated by Earthmoving equipment till 2026
Increasing ownership costs and stringent government
regulations are driving the growth of Turkey Construction Equipment Rental
Market in the forecast period, 2022-2026.
According
to TechSci Research report, “Turkey Construction Equipment Rental Market By Equipment
(Earthmoving, Material Handling, Road Building & Concrete), By Product
(Crane, Diesel Generator, Excavator, Wheel Loader, Bulldozer, Motor Grader,
Telescopic Handler, Forklifts, Trucks, Manlifts, Others), By Region,
Competition Forecast & Opportunities, 2026”,
the Turkey Construction Equipment Rental market is expected to grow at a
formidable rate during the forecast period, 2022-2026. The high initial cost
required for purchasing construction equipment encourages construction
companies to opt for affordable rental services. Associated purchasing factors
like high tax, high depreciation costs, maintenance, and insurance are fueling
the demand for the Turkey Construction Equipment Rental market. Renting
construction equipment saves the companies from facing unexpected market
fluctuations and financial turndowns. The presence of many Construction
Equipment Rental options can help in emergency times and provide flexibility
that supports the logistics industry's growth and finance activities. Strong
competition among the Construction Equipment Rental market players pushes them
to provide better services, prices, and a range of options to the customers.
Construction companies can lower their operational expenses by using the rental
construction equipment over projects defined for the long term. The company
requires only to provide the rental fees. Other expenditures like maintenance
fees are borne by the Construction Equipment Rental company, saving a
significant amount of labor and time wasted in purchasing the construction
equipment. The rental service provider companies save transportation and
logistics costs of the construction company or the contractor. The purchase of new or old construction
equipment costs a lot of money which can raise the anxiety level of the
purchasers. Equipment used at the construction sites requires proper care and
needs to be running throughout their mechanical life. The purchase of
construction equipment comes with an option of warranty and is a long-term
responsibility to ensure the equipment's proper functioning; therefore, rental
construction equipment is in high demand in Turkey. The growing demand for advanced and superior
construction rental equipment for the better management of construction and
processing activities and the investments by the key players for developing
high-performance and efficient construction equipment with advanced and
environment-friendly features is expected to influence the market demand.
However,
low rental market penetration and labor force shortage may restrain the Turkey
Construction Equipment Rental market growth for the forecast period.
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The
Turkey Construction Equipment Rental market is segmented on the basis of
equipment, product, competitional landscape, and regional distribution.
On the basis of the equipment, the
Turkey Construction Equipment Rental market is divided into earthmoving,
material handling, road building & concrete. The earthmoving equipment is
expected to hold the largest market share in the forecast period, 2022-2026. Earthmoving
equipment is mainly used to move a large amount of earth surface and dig the
surface for landscaping purposes. The earthmoving equipment includes heavy
hydraulic machinery, equipment for construction and engineering, heavy trucks,
and other vehicles.
On the basis of the product, the Turkey
Construction Equipment Rental market is divided into the crane, diesel
generator, excavator, wheel loader, bulldozer, motor grader, telescopic
handler, forklifts, trucks, man lifts, and others. The crane segment is expected
to account for a significant market share in the next five years. The high
demand for the use of the various type of cranes by contractors for
construction and building activities is driving the need for cranes in the Construction
Equipment Rental market.
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“The government is promoting
"Horizontal Urbanization," which aims to encourage the construction
of low-rise buildings due to the continuous construction of tall buildings in
urban cities is expected to create growth potential for the Turkey Construction
Equipment Rental Market. The use of
modern equipment and quality construction materials helps construct quality
residential, commercial, and industrial spaces. The rapid rise in the
population moving to the cities coupled with the solid economic presence of Turkey
is expected to propel the Turkey Construction Equipment Rental market growth
till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Turkey Construction Equipment Rental Market By
Equipment (Earthmoving, Material Handling, Road Building & Concrete), By
Product (Crane, Diesel Generator, Excavator, Wheel Loader, Bulldozer, Motor
Grader, Telescopic Handler, Forklifts, Trucks, Manlifts, Others), By Region, Competition
Forecast & Opportunities, 2026”, has evaluated the future
growth potential of Turkey Construction Equipment Rental market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Turkey Construction Equipment Rental market.
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