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United States Equipment Rental Market Revenue to Grow by more than USD 60 billion by 2026
United States Equipment Rental Market Outlook 2028: Analysis of Construction, Industrial and Other Equipment by Market Share, Size, Growth Opportunities, and Competition
By: Makreo Research and Consulting
However, by the end of 2022, the rental industry started to experience difficulties in terms of new equipment shortage and availability of labour force; these issues are expected to exacerbate in 2023. Rental companies are retaining older equipment that they would have probably sold when new machinery wasn't so hard to come by since OEM backlogs are expected to last until mid of 2023.
Impact of COVID-19 on United States Construction Equipment Market
The construction equipment industry in the United States was one of the hardest hit following the COVID-19 pandemic epidemic. All construction activities were stopped completely as a result of the increasing weight of COVID-19-affected rates and the adoption of social distancing norms.
Increasing Do It Yourself (DIY) Activities
The growing acceptance and popularity of RTA furniture in the US is what fuels the DIY movement. In the US, ready-to-assemble (RTA) furniture with cutting-edge designs is becoming more and more popular. Key vendors have been forced to produce custom-designed RTA furniture for individualized interiors due to the growing trend of customization.
Sunbelt Rentals and Britishvolt announced their agreement in June 2022 in order to facilitate the construction of Britishvolt's first full-scale cambois-based battery gigaplant. In order to assist decarbonize the construction and equipment rental industry, the firms will collaborate closely over the long term to develop battery solutions for power plants and heavy machinery.
Makreo research has published a study titled "United States Equipment Rental Market Outlook 2028: Analysis of Construction, Industrial and Other Equipment by Market Share, Size, Growth Opportunities, and Competition"
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