Below are some of the key findings from the short-term material handling equipment market analysis
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Global Short-term Material Handling Equipment Rental Industry Overview
Technavio’s analysts have identified the high initial investment and maintenance cost of industrial trucks to be one of the key reasons for the growing demand of short-term rental services of material handling equipment. As a result, many end-users are reluctant to use forklift trucks. Furthermore, the need for skilled personnel to operate, repair, and maintain forklifts increased the cost of maintenance and operation. Owing to the high initial investment and maintenance cost associated with material handling equipment, more and more end-user industries are opting for rental equipment, in turn, contributing to the growth of short-term material handling equipment rental market demand during the predicted period.
There is no high initial investment and the maintenance costs for rental material handling equipment are quite minimal in comparison to owning the equipment. As a result, the high initial investment required to procure a material handling equipment and the high maintenance cost of such equipment is further driving the growth of the global short-term material handling equipment rental market.
Companies covered
The short-term material handling equipment rental market is moderately fragmented owing to the presence of several established and regional vendors focusing on adopting various advanced technologies to offer superior products. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this short-term material handling equipment rental industry analysis report will aid clients to identify new growth avenues and design innovative strategies to strengthen the customer base and geographic presence.
The report offers a complete analysis of various companies including:
- Caterpillar
- Cramo
- Herc Rentals
- Jungheinrich
- KION GROUP
- Loxam
- Sarens
- TOYOTA INDUSTRIES
- United Rentals
Short-term material handling equipment rental market growth based on geographic regions
- Americas
- APAC
- EMEA
With a complete study of the growth opportunities for the companies across regions such as the Americas, APAC, and EMEA, our industry research analysts have estimated that countries in APAC will contribute to the largest growth of this market throughout the predicted period. Owing to the growing construction and automotive industries in the emerging economies including India and China, the region is likely to continue to contribute significantly to the growing demand for short-term material handling equipment rental market in the forthcoming years.
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Short-term material handling equipment rental market growth based on products
- Forklifts and telehandlers
- Cranes
- Hoists
According to our market research experts, the forklifts and telehandlers segment will account for the highest growth in the market. Additionally, the report also provides an accurate prediction of the contribution of the various products segments to the growth of the short-term material handling equipment rental market size.
Key highlights of the global short-term material handling equipment rental market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the short-term material handling equipment rental market during the next five years
- Precise estimation of the global short-term material handling equipment rental market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the short-term material handling equipment rental industry across various geographies such as the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive information about factors that will challenge the growth of short-term material handling equipment rental companies
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