Growing Construction Industry Drives Demand for Mini Backhoe Rental Services
Rockville , Nov. 01, 2023 (GLOBE NEWSWIRE) — The mini backhoe rental market is estimated to grow from US$ 211.5 million in 2023 to US$ 304.2 million in 2033 at a rate of 3.7% creating an absolute opportunity of US$ 92.7 million.
Mini backhoes play a vital role in various industries, including construction, mining, landscape maintenance, agriculture, forestry, and infrastructure development. Mini backhoe rental services offer an accessible and convenient option for customers, providing them with specialized tools without the need of purchasing.
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Smart city initiatives and infrastructure projects rely on mini backhoes. Rental services ensure contractors and municipalities have immediate access to the necessary equipment for demolishing and digging land.
The growing population in Asia-Pacific countries drives the need for additional and improvised homes, schools, and buildings, which derives the demand for construction equipment and machinery creating demand for the mini backhoes. Rental services offer technical support and guidance, helping customers achieve optimal results while reducing the risk of accidents creating growth in the mini backhoe rental market.
| Report Attribute | Details |
| Value Projection (2033) | US$ 304.2 Million |
| Growth Rate (2023-2033) | 3.7%CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 70 Tables |
| No. of Figures | 114 Figures |
Key Takeaways from Market Study
- The US market for mini backhoe rental is highly lucrative growing at a CAGR of 3.9% during the forecast period
- In 2018, the mini backhoe rental market had a valuation of US$ 175.7 million
- Historic growth of the German mini backhoe rental market was 2.8% between 2018 to 2022
- By application, the construction and mining are estimated to account for a market share of 33.2% in 2023
- Centre mount backhoe type is likely to grow at a CAGR of 4.0% during the forecast period creating an absolute $ opportunity of US$ 60.2 million
“Growing Demand for Construction Equipment is Likely to Drive the Mini Backhoe Rental Market During the Forecast Period” says a Fact.MR analyst.
Key Companies Profiled in This Report
- BlueLine Rental
- Herc Rentals
- Home Depot Rentals
- Neff Rental
- Sunbelt Rentals
- United Rentals
Market Growth Stratagems
Providing exceptional customer service is a key differentiator in the rental industry. Service providers focus on responsiveness, prompt delivery, and pick-ups. In addition, maintaining a strong online presence through a user-friendly website and online booking platform is essential. Rental service providers allow customers to conveniently browse equipment options, check availability, and book rentals online. Some providers are offering insurance plans like rental protection plan without any extra charges, attracting a wide consumer base.
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Category-Specific Analysis
Why Are Centre Mount Backhoe Rental Services Becoming More Popular?
The centre mount backhoe is a sort of small backhoe rental service that is becoming more and more popular because of its effectiveness and versatility in handling different types of excavation activities. The excavator arm is positioned in the centre of the machine for increased stability and digging force. This enables it to exert more force on the earth, improving its digging and excavation efficiency.
Additionally, because of its increased manoeuvrability, this kind of micro digger can operate in confined areas and challenging terrain. This makes it especially helpful for residential houses with small yards or construction sites with restricted access.
The centre mount backhoe type is predicted to hold a 59.1% market share in 2023 and increase at a 4.0% CAGR over the course of the forecast year.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the mini backhoe rental market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights based on the type (center mount backhoe and side shift backhoe), engine power (Up to 40 HP, 40-55 HP, and 55-70 HP), digging depth (Under 5 Feet, 5-10 Feet, and 10- 15 Feet), application (construction & mining, agriculture & forestry, landscape & maintenance, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
Explore More Related Studies Published by Fact.MR Research:
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Aerial Lift Rental Market: The global aerial lift rental market is expected to grow at a CAGR of 5.8% and reach a valuation of US$ 9.7 billion in 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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