Market Overview:
The global plant hire market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for construction equipment, mining equipment, and power generation equipment. Additionally, the growing trend of online rental is also contributing to the growth of this market. The plant hire market can be segmented on the basis of type into online rental and offline rental. Offline rental dominates the global plant hire market with a share of more than 80%. However, online rental is expected to grow at a higher CAGR during the forecast period as it offers several advantages such as convenience, lower cost-per-hire, and easy access to a wider range of equipment. On the basis of application, oil and gas industry accounts for majority share in terms revenue generated followed by construction industry.
Product Definition:
Plant hire is the short-term rental of construction or engineering equipment, tools, or vehicles. It is an important part of the infrastructure development process, as it allows companies to access the necessary equipment without having to make a large capital investment.
Online Rental:
Online rental is a service that allows customers to book plant and machinery in advance. It has been gaining popularity over the past few years owing to the benefits such as ease of convenience, flexibility, and cost-effectiveness offered by this service. The global online rental market size was valued at USD 2 billion in 2015 and is expected to witness significant growth over the forecast period owing to its rising penetration among small & medium enterprises.
Offline Rental:
An offline rental is a service where the equipment or machinery is located and made available for use by the lessor. The lessee obtains a lease agreement from the lessor who then provides access to the equipment/machinery for its intended purpose.
The lessee must return the asset in good condition at the end ofthe lease period, with no additional costs or damages. If there are any, they would be covered under maintenance fees agreed upon in leasing agreements.
Application Insights:
The construction industry accounted for the largest revenue share of over 30% in 2017. The growth can be attributed to the rapid urbanization and industrialization, especially in developing countries like India and China. In addition, a rise in residential & commercial construction activities is expected to boost industry growth over the forecast period.
Plant hire services are used extensively by oil and gas companies for onshore as well as offshore exploration activities. Rapid technological advancements coupled with an increase in production levels have led to an upsurge plant hiring needs across all sectors involved with oil & gas extraction including drilling, transportation, processing facilities etc., which is anticipated to drive demand further over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising investments in construction, oil and gas, mining, and power industries. In addition, rapid industrialization coupled with growing population has led to an increase in demand for industrial plant equipment such as cranes & heavy machinery; forklifts; loaders; excavators & skid loaders; which is further anticipated to drive the regional market growth.
The Asia Pacific was followed by North America that accounted for a revenue share of 22% in 2017 owing to increasing demand from U.S., Canada, Mexico on account of expanding oil and gas industry along with growing construction industry after recovery from recession during 2008-09 fiscal year at national level thereby driving Plant Hire Market Growth across this region.
Growth Factors:
- Increasing demand for construction and infrastructure projects across the globe
- Rapid urbanization and industrialization in developing countries
- Proliferation of rental companies and private players in the market
- Rising awareness about the benefits of plant hire services among businesses and consumers alike
- Technological advancements that have made plant hire services more efficient, reliable, and affordable
Scope Of The Report
Report Attributes
Report Details
Report Title
Plant Hire Market Research Report
By Type
Online Rental, Offline Rental
By Application
Oil and Gas Industry, Construction Industry, Mining Industry, Power Industry, Others
By Companies
Herc Rentals, Sunbelt Rentals, United Rentals, Atlas Copco, Caterpillar, AKTIO Corporation, Ashtead Group, Cramo, Deere & Company, Kanamoto, Loxam, Maxim Crane Works, Nishio Rent All, Nikken Corporation, Sims Crane & Equipment, Stephensons Rental Services, Sunstate Equipment Company, Titan Machinery
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Plant Hire Market Report Segments:
The global Plant Hire market is segmented on the basis of:
Types
Online Rental, Offline Rental
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil and Gas Industry, Construction Industry, Mining Industry, Power Industry, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Herc Rentals
- Sunbelt Rentals
- United Rentals
- Atlas Copco
- Caterpillar
- AKTIO Corporation
- Ashtead Group
- Cramo
- Deere & Company
- Kanamoto
- Loxam
- Maxim Crane Works
- Nishio Rent All
- Nikken Corporation
- Sims Crane & Equipment
- Stephensons Rental Services
- Sunstate Equipment Company
- Titan Machinery
Highlights of The Plant Hire Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Online Rental
- Offline Rental
- By Application:
- Oil and Gas Industry
- Construction Industry
- Mining Industry
- Power Industry
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Plant Hire Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Plant hire is the hiring of plants and flowers for events or weddings.
Some of the major companies in the plant hire market are Herc Rentals, Sunbelt Rentals, United Rentals, Atlas Copco, Caterpillar, AKTIO Corporation, Ashtead Group, Cramo, Deere & Company, Kanamoto, Loxam, Maxim Crane Works, Nishio Rent All, Nikken Corporation, Sims Crane & Equipment, Stephensons Rental Services, Sunstate Equipment Company, Titan Machinery.
The plant hire market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Plant Hire Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Plant Hire Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Plant Hire Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Plant Hire Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Plant Hire Market Size & Forecast, 2020-2028 4.5.1 Plant Hire Market Size and Y-o-Y Growth 4.5.2 Plant Hire Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Online Rental
5.2.2 Offline Rental
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Oil and Gas Industry
6.2.2 Construction Industry
6.2.3 Mining Industry
6.2.4 Power Industry
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Plant Hire Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Plant Hire Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Online Rental
9.6.2 Offline Rental
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Oil and Gas Industry
9.10.2 Construction Industry
9.10.3 Mining Industry
9.10.4 Power Industry
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Online Rental
10.6.2 Offline Rental
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Oil and Gas Industry
10.10.2 Construction Industry
10.10.3 Mining Industry
10.10.4 Power Industry
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Online Rental
11.6.2 Offline Rental
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Oil and Gas Industry
11.10.2 Construction Industry
11.10.3 Mining Industry
11.10.4 Power Industry
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Online Rental
12.6.2 Offline Rental
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Oil and Gas Industry
12.10.2 Construction Industry
12.10.3 Mining Industry
12.10.4 Power Industry
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Online Rental
13.6.2 Offline Rental
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Oil and Gas Industry
13.10.2 Construction Industry
13.10.3 Mining Industry
13.10.4 Power Industry
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Plant Hire Market: Competitive Dashboard
14.2 Global Plant Hire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Herc Rentals
14.3.2 Sunbelt Rentals
14.3.3 United Rentals
14.3.4 Atlas Copco
14.3.5 Caterpillar
14.3.6 AKTIO Corporation
14.3.7 Ashtead Group
14.3.8 Cramo
14.3.9 Deere & Company
14.3.10 Kanamoto
14.3.11 Loxam
14.3.12 Maxim Crane Works
14.3.13 Nishio Rent All
14.3.14 Nikken Corporation
14.3.15 Sims Crane & Equipment
14.3.16 Stephensons Rental Services
14.3.17 Sunstate Equipment Company
14.3.18 Titan Machinery