Invest in construction equipment and benefit from the continued growth that the rental industry is expected to experience. From concrete equipment to earth moving machinery, there is a diverse range of equipment that is in demand. You can find equipment on Truck & Trailer.
Photo by Shane McLendon on Unsplash
Growing construction equipment rental market
The local industry for construction equipment rental is growing steadily, which makes it a good opportunity to earn money. It is predicted that the market will grow significantly at 3% CAGR. The market is expected to have a value of $3.5m by 2024. Research conducted by Global Market Insights Inc. shed light on the growing value of this market. The local construction industry makes use of rented equipment, which has increased the demand for this service. A consistent increase in the rental model has been observed. Elevated levels of spending in the construction sector is a contributing factor to the growth that has been experienced by the rental market. The increased investment in South Africa’s infrastructure has facilitated growth in the construction industry. Another aspect that contributes to increased growth is an elevated demand for premium residential and commercial buildings. Population growth has also resulted in an increased demand for housing.
Why use rental construction equipment?
The advantage of using rental construction equipment is that it reduces the large amount of capital that is required to purchase tools and machinery. When construction companies rent equipment, they only have to pay a fee for the period they’re using the equipment. The rental model is particularly useful for small companies who don’t have the resources to buy equipment.
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What type of equipment is available to rent?
With a wide selection of construction equipment available to rent, it’s easy to find what you’re looking for. The tasks that you need to complete will influence the type of machinery that you rent. Renowned manufacturers are selling their machinery to rental companies, which means that there’s good-quality equipment available for construction companies who prefer not to buy. You can rent equipment manufactured by Volvo or Liebherr. SDLG and Tadano equipment are also available to rent.
The availability of durable and high-performance equipment has contributed to the increasing number of companies who are choosing to rent. Concrete equipment, as well as material handling machinery, are in demand. Lifting and heavy earthmoving equipment are common types of machinery that construction companies choose to rent. Rental construction equipment is available from OEMs as well as dealers. This equipment is not only useful in the construction industry, it’s also rented by recycling companies and quarry operators.
Photo by Matthew Hamilton on Unsplash
Now that you know more about the construction equipment that is available, you have the option to start your own rental company. With plenty of quality equipment for sale on Truck & Trailer, it’s easy to get your business off to a good start. Whether you’re renting or buying, there is a diverse range of machinery to choose from.
Truck & Trailer Staff Writer
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