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The Germany construction equipment rental market is expected to grow at a CAGR of approximately 4.65% from 2022 to 2029. Speak directly to the analyst to clarify any post sales queries you may have.
KEY HIGHLIGHTS
- The material handling segment in the Germany construction equipment rental market accounted for a share of 51.4% of the overall construction equipment rental industry. The aerial platform accounted for the largest market share of, 52.1% of the material handling. The demand for the aerial platform is high due to its extensive use in the warehouse & logistics industry. Government investment in building renovation projects also boosts the demand for aerial platforms.
- Infrastructure upgradation projects, such as the renovation of commercial buildings, railway stations, & airports, the repair of runways, and the extension of roadways & bridges, in rural parts of the country, are driving the high demand for the Germany construction equipment rental market.
- The rental of construction equipment provides the benefit of avoiding the high capital costs, costly maintenance of construction equipment & availability of new technology-equipped construction equipment.
- The government invests USD 14.99 billion annually in the logistics sector. This investment is expected to drive the construction of warehouses across various locations in Germany, for instance, Maersk's construction of a warehouse in Duisburg. The implementation of digital technology in the logistics & warehouse industry is expected to support the growth of these sectors in 2022. Maersk has started the construction of a 43,000-square-meter warehouse in Germany. High investment in logistics & warehouse sectors is expected to drive the demand for renting forklifts & aerial platforms such as scissor lifts, articulated boom lifts & telescopic boom lifts.
- Renting electric forklifts is also growing in the German industry due to trends in zero-emission warehouses. In 2022, DHL, the world’s leading contract logistics provider, planned to construct a 400,000 sqm carbon-neutral warehouse in major European markets, including Germany.
- Rising building material prices, shortage of skilled labor force & low local production of equipment can hamper the Germany construction equipment rental market. However, digital transformation in the construction equipment rental industry to enhance customer satisfaction will drive demand in the industry.
MARKET TRENDS & DRIVERS
A Surge in Inflation Rate & Energy Prices Supports Construction Rental Market
In 2022, Germany faced the challenge of rising inflation and persistently high energy prices, impacting consumer purchasing power and the country’s economic growth. The inflation rate rose to 10.4% in October 2022. The inflation rate also impacted the construction industry and affected projects’ estimated budget, leading to revision and higher costs than the project's estimated budget. Rising labors & building material costs are major challenges the German construction industry witnessed in 2022. According to the Federal Statistical Office, building materials such as wood (64.1%), steel (53.2%) & iron (25.4%) prices rose in 2022 as compared to 2021. Sharp rise in inflation, high energy prices, & growing prices of building materials are expected to support the Germany construction equipment rental market growth. The ongoing war between Russia & Ukraine further worsens the country’s market challenges. According to IMF, Germany is expected to continue facing rising inflation rates in 2023.Renting Companies Facilities Drive Growth of Construction Equipment Rental Market
The value of equipment leasing in Europe was USD 25.6 billion in 2021, according to Equipment Rental Association (ERA), and Germany is one of the largest markets for equipment leasing in Europe. According to ERA, the German rental and leasing market of construction machinery grew by 4.2% in 2021. The equipment renting industry is expected to grow primarily owing to the presence of small and medium-sized construction companies, such as Bagela Baumaschinen GmbH & Co., Multimon Group, and Miltex GmbH. Zeppelin GmbH and HKL Baumaschinen GmbH account for the industry market share in construction equipment rental & leasing in Germany.Some construction machinery rental companies are providing trained operators for operating rented equipment. Other construction equipment rental companies are also providing logistics & insurance facilities to attract new customers. For instance, Klarx renting construction machinery company provides logistics & insurance facilities to its customer.
Construction Equipment Rental Companies Focus on Digital Technologies
German Tech company UMT (United Mobility Technology) launched an online rental marketplace called Smart Rental based on Mobile App in 2022. The company also develops the technology to digitize business processes, including online payment tools & equipment testing tools. Smart Rental joins other online rental marketplaces such as Klarx and Klickrent (owned by construction equipment rental company Zeppelin Group) to increase the customer service base. The use of these technologies grew in 2022 due to a surge in Germany construction equipment rental market.Segmentation by Type
- Earthmoving Equipment:
- Excavator
- Backhoe Loaders
- Motor Graders
- Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
- Material Handling Equipment
- Crane
- Forklift & Telescopic Handlers
- Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
- Road Construction Equipment
- Road Rollers
- Asphalt Pavers
- End Users
- Construction
- Manufacturing
- Mining
- Others
VENDOR LANDSCAPE
- Caterpillar, Volvo Construction Equipment, Liebherr, Komatsu, JCB, Hitachi Construction Machinery, Hyundai Construction Machinery, and Prominent vendors in the Germany construction equipment rental market SANY & XCMG.
- Other prominent vendors in the industry include Terex corporation, LiuGong, JLG & Takeuchi.
- Liebherr, Caterpillar, Volvo Construction Equipment, JCB, & Komatsu are the Germany construction equipment rental market leaders and have a strong industry share. These vendors offer various products in the Zeppelin Group.
- JLG, LiuGong & Terex Corporation are niche players in the German rental industry. They offer limited products to cater to customers requiring material handling equipment majorly.
- SANY Construction Equipment launched the SY390H range of crawler excavators with a capacity of over 30 tonnes in the European industry.
Key Vendors
- Caterpillar
- Komatsu
- Volvo Construction Equipment
- Hitachi Construction Machinery
- Liebherr
- Hyundai Construction Machinery
- Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
- SANY
- JCB
Other Prominent Vendors
- Terex corporation
- Takeuchi Manufacturing
- JLG
- Liu Gong
Rental Companies Profile
- Loxam
- Boels Rental
- KILOUTOU GmbH
- Zeppelin Rental
- Liebherr Mietpartner Gmbh
- HKL Baumaschinen
- Riwal
KEY QUESTIONS ANSWERED:
1. How big is the Germany construction equipment rental market?2. What is the growth rate of the Germany construction equipment rental market?
3. Which are the prominent rental companies in the Germany construction equipment rental market?
4. What are the key trends in the Germany construction equipment rental market?
5. Who are the key players in the Germany construction equipment rental market?
Table of Contents
Section 1 - Introduction
Section 2 - the Market Overview
Section 3 - Market Landscape
Section 4: Market Dynamics
Section 5: Technology Development
Section 6 - Competitive Landscape
Section 8 - Report Summary
Section 9 - Report Scope & Definition
Companies Mentioned
- Caterpillar
- Komatsu
- Volvo Construction Equipment
- Hitachi Construction Machinery
- Liebherr
- Hyundai Construction Machinery
- Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
- SANY
- JCB
- Terex corporation
- Takeuchi Manufacturing
- JLG
- Liu Gong
- Loxam
- Boels Rental
- KILOUTOU GmbH
- Zeppelin Rental
- Liebherr Mietpartner Gmbh
- HKL Baumaschinen
- Riwal
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 111 |
| Published | March 2023 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value ( USD | $ 6083.2 Million |
| Forecasted Market Value ( USD | $ 8363.8 Million |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Germany |
| No. of Companies Mentioned | 20 |
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About the Heavy Equipment Rental Market
The Heavy Equipment Rental market is a subset of the Heavy Machinery industry, which encompasses the use of large, powerful machines for a variety of applications. Heavy Equipment Rental is the practice of renting out these machines for short-term use, typically for construction, mining, and other industrial purposes. This type of rental is often preferred over purchasing the equipment outright, as it allows companies to access the latest technology without the need for a large upfront Read more
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