Solid foundation: Rising demand from the construction market supports a positive growth trend

The industry's financial performance is subject to trends and activity in an array of downstream industries, including air, sea and rail transportation; highway, street, tunnel and bridge construction; and oil exploration and drilling. Over the five years to 2018, overall growth in the economy, which has supported significant growth in construction and industrial activity, has supported industry revenue. Though the revenue growth figure is dampened slightly by particularly high growth just prior to the five-year period, the relatively slow growth is largely due to commodity price pressures that restricted revenue later in the period. Over the five years to 2023, improved demand from downstream transportation and mining sectors will boost industry performance...purchase to read more.

Industry Statistics & Market Size
Revenue
$40bn
Annual Growth 13-18
1.3%
Forecast Growth 18-23
x.x%lock
Profit
x.x%lock
Employment
68,261
Businesses
5,382
Market Share of Companies

Industry Threats & Opportunities

  • Revenue growth was particularly strong at the outset of the five-year period as construction markets grew strongly
  • Air transportation is a major product segment for this industry
  • During periods of fluctuating demand, airlines may lease a higher proportion of their aircraft

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    Industry Report - Industry Key Buyers Chapter

    The Heavy Equipment Rental industry is fragmented with the four largest players accounting for an estimated 23.5% of the industry’s revenue in 2018. The remainder of the market is contested by a large number of smaller players that operate in geographically dispersed or specialist markets. The majority of these companies are small operators that include those that rent out their own equipment as opposed to larger operators who can rent out a fleet of equipment in a wide array of locations. According to US Census Bureau reporting, nearly 90.0% of enterprises are single-unit operations. These are operations that function out of one location. However, an estimated 75.0% of revenue is generated by the much smaller set of multiunit enterprises...purchase to read more.

    Additional Insights for the Heavy Equipment Rental Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Heavy Equipment Rental Industry are

  • Ability to effectively manage risk
  • Ability to alter goods and services produced in favor of market conditions
  • Prompt delivery to market

    • IBISWorld analysts also discuss how external factors such as Value of construction and Demand from air transportation in the Heavy Equipment Rental industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Heavy Equipment Rental Industry?

    Industry operators rent or lease heavy construction, off-highway transportation, mining and forestry machinery and equipment without attached labor. Operators in this industry may rent or lease products including aircraft, railcars, steamships, tugboats, bulldozers, earthmoving equipment, cranes or well-drilling machinery and equipment.

    Industry Products
  • Air transportation equipment
  • Rail transportation equipment
  • Water transportation equipment
  • Commercial and industrial equipment
  • Construction, mining and forestry equipment
    • Industry Activities
  • Aircraft rental or leasing
  • Barge rental or leasing
  • Boat, ship and steamship rental or leasing
  • Railcar rental or leasing
  • Tanker rental or leasing
  • Towboat and tugboat rental or leasing
  • Forestry and logging machinery and equipment rental or leasing
  • Heavy construction equipment rental
  • Mining machinery and equipment rental or leasing
  • Oil field machinery and equipment rental or leasing
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Value of construction
  • Demand from air transportation
  • Demand from oil drilling and gas extraction
  • Demand from rail transportation
  • Demand from iron ore mining

    • Current Performance
  • Heavy machinery demand
  • Railcars demand
  • Aircraft demand
  • Industry landscape
  • Chart: Revenue Growth

    • Industry Outlook
  • Improving downstream demand
  • Industry expansion
  • Table: Heavy Equipment Rental Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Heavy Equipment Rental Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Logging
  • Oil Drilling & Gas Extraction
  • Bridge & Elevated Highway Construction
  • International Airlines
  • Domestic Airlines
  • Rail Transportation
  • Ocean & Coastal Transportation
  • Commercial Building Construction
  • Road & Highway Construction
  • Road & Highway Maintenance

    • Key Selling Industries
  • Aircraft, Engine & Parts Manufacturing
  • Boat Building
  • Construction Machinery Manufacturing
  • Mining, Oil & Gas Machinery Manufacturing
  • Ship Building
  • Train, Subway & Transit Car Manufacturing

    • Products & Services
  • Construction, mining and forestry equipment
  • Air transportation equipment
  • Commercial and industrial equipment
  • Rail transportation equipment
  • Water transportation equipment
  • Chart: Heavy Equipment Rental Industry Products and Services Segmentation

    • Demand Determinants
  • Air travel and transportation
  • Construction sector
  • Mining and forestry
  • Commercial and industrial activity
  • Advantages of renting and leasing

    • Major Markets
  • Construction, industrial, mining and forestry operations
  • Transportation operations
  • Chart: Major Market Segmentation for the Heavy Equipment Rental Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesDepreciationWagesRent, Utilities and Marketing
  • Chart: Cost Structure Benchmarking – Sector vs Heavy Equipment Rental

    • Basis of Competition
    InternalExternal
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Heavy Equipment Rental Industry

    • Industry Globalization

    Major Companies

    United Rentals Inc., Sunbelt Rentals,
  • Table: United Rentals Inc. - financial performance
  • Table: Sunbelt Rentals - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Heavy Equipment Rental Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Heavy Equipment Rental Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Value of construction (2009-2023)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios

    Jargon & Glossary

    Finance Lease
  • A type of lease in which the lessee has use of the asset throughout most of its economic life and beyond. A nominal residual payment is common at the end of the lease term to assume ownership.
    • Operating Lease
  • A type of lease in which the lessee only uses the asset for some of the asset's life.
    • Whole-Of-Life Costing System
  • A system designed to minimize costs and assist owners with procurement and maintenance decisions throughout the life of an asset.
    • What Our Customers Say
    Why buy this report?

    The Heavy Equipment Rental industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    This report on Heavy Equipment Rental:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Heavy Equipment Rental market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Heavy Equipment Rental, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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