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U.S. Construction Equipment Rental Market is Expected to Grow by $54.17 Billion by 2029 From $39.2 Billion in 2022; Industry Insights, Trends & Competitive Analysis - Arizton
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The Chicago Transit Authority (CTA) has announced the development of the Red Line Extension (RLE) with an estimated cost of $3.6 billion and included the extension of the Red Line from the existing southern terminal at 95 Street to 130 Street. The 5.6-mile extension would comprise four new stations at 103 Street, 111 Street, Michigan Avenue, and 130 Street. Hence, the rise in road connectivity will likely increase the demand for other rental equipment, with significant investments in the upcoming years.
United Rentals, Inc., Sunbelt Rentals, Herc Rentals, The Home Depot Rental, Warren CAT, Sunstate Equipment, H&E Equipment Services, Maxim Crane Works, L.P., Briggs Equipment, Uperio Group, and Worldwide Machinery
· Growth in the mining industry to propel the demand for renting earthmoving equipment
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U.S. Used Construction Equipment Market- Strategic Assessment & Forecast 2022-2028: The U.S. used construction equipment market is projected to grow at a CAGR of over 5% from 2022 to 2027 and reach $2.8 billion by 2028 from $2 billion in 2021. The used construction equipment market in the US is expected to reach 45,766 units by 2028. The US government investment in the up gradation of infrastructure & renewable energy projects is expected to support the demand for used equipment in the US during the forecast period (2022-2028).
Canada Construction Equipment Market - Strategic Assessment & Forecast 2021-2027: Canada's construction equipment market was valued at USD 3.8 billion and is forecasted will reach USD 4.85 billion by 2027, growing at a CAGR of 4.45% during 2021-2027. Canada's earthmoving equipment market will witness robust growth during the forecasted period. According to the building & construction authority Canada , public sector projects will drive the demand for the construction equipment industry, which accounted for 64% of the total demand in 2021 due to the government's affordable housing programs.
U.S. Construction Equipment Market - Strategic Assessment & Forecast 2021-2027: The U.S. construction equipment market size was valued at USD 22.6 billion in 2021 and is projected to reach USD 32.68 billion by 2027, growing at a CAGR of 6.34%. The market will witness the sale of 1,91,836 units by 2027. The demand for construction equipment is strong in the US primarily due to the government's significant support for technologically advanced equipment in manufacturing, energy, power, transportation, hybrid vehicles, and other industries. The use of prefabricated units in the construction of buildings is likely to boost the construction equipment market. The construction equipment market is expected to fuel due to the high demand for electric vehicles. Growth in arms exports from the US is expected to boost the construction equipment market.
Canada Crane Market - Strategic Assessment & Forecast 2021-2027: Canada crane market size will be valued at USD 1.4 billion and reach a volume of 6,132 units by 2027, growing at a CAGR of 3.70%. In Canada, the demand for mobile cranes is rising substantially, and Canada's mobile crane market accounts for 48% of the overall crane market.
Economic Scenario, Foreign Direct Investment, Major Infrastructure Projects
3.1.1. Earthmoving Equipment
3.1.2. Material Handling Equipment
3.1.3. Road Construction Equipment
Market Drivers, Restraints, Trends, Advantages US, Key Economic Regions, Supply Chain Analysis, COVID-19 Impact
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