Construction Equipment Rental Market To Reach US$ 153.1 Billion by 2028, Exhibiting a Growth Rate (CAGR) of 5.59%
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The latest research study “Construction Equipment Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 ” by IMARC Group, finds that The global construction equipment rental market size reached US$ 109.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 153.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.59% during 2023-2028. Construction equipment rental refers to the practice of leasing heavy machinery for material handling, concrete mixing, earthmoving, and performing related tasks. There are majorly two types of standards available in the market. The wet hiring model involves the rental of construction equipment and personnel to manage and maintain the gear. On the other hand, under the dry hiring model, the equipment is maintained and operated by in-house specialists of the enterprise. Renting is more cost-effective as it involves paying a lower maintenance fee and fewer technical charges...