(MENAFN- GlobeNewsWire - Nasdaq) Rockville, Aug. 09, 2023 (GLOBE NEWSWIRE) -- As per the latest research report by Fact.MR, a market research and competitive intelligence provider, the concrete crusher rental market is estimated to grow from US$ 383.2 million in 2023 to US$ 561.8 million in 2033 at a rate of 3.9% creating an absolute $ opportunity of US$ 178.6 million.
Concrete crushers have become essential rental assets, with their twin benefits revolutionizing building and demolition operations. They improve operational efficiency by reducing time-consuming processes and costly disposal techniques. Contractors now recycle demolished concrete on-site, saving money on transportation and garbage disposal. The concrete crusher's attractiveness as a rental option propels its market growth.
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Contractors are increasingly choosing on-site concrete crushing to reduce environmental impact and project costs as the emphasis on sustainable construction practices grows. The convenience, cost-effectiveness, and flexibility of rental services appeal to a wide range of customers.
Concrete crusher demand is fuelled by ongoing infrastructure expansion, increased construction activity, and environmental consciousness. To satisfy changing customer expectations, rental companies will increase their fleets and offer innovative solutions, assuring continued market growth. Seasonal demand changes, as well as the necessity for efficient waste management in building repair, will drive the rental market even further.
Key Takeaways from Market Study
The Chinese market for concrete crusher rental is highly lucrative growing at a CAGR of 4.6% during the forecast period In 2018, the concrete crusher rental market had a valuation of US$ 315.1 million Historic growth of the German concrete crusher rental market was 4.5% between 2018 to 2022 By application, construction & demolition is estimated to account for a market share of 34.1% in 2023 Jaw concrete crusher type is likely to grow at a CAGR of 4.4% during the forecast period creating an absolute $ opportunity of US$ 80.0 million
“Promoting Sustainable Practices Drives Concrete Crusher Rental Market Growth” says a Fact.MR analyst.
Market Growth Stratagems
Prominent market players include Foreman Equipment Ltd., ICM Solution, K&B Crusher, Kirby-Smith Machinery, Komplet America, Murrysville Machinery, Rentkart, Rubble Master, Sunbelt Rentals, United Rental, and Warren CAT.
Concrete crusher rental companies concentrate on broadening their equipment inventory to provide a diverse variety of crusher alternatives for various project requirements. They attempt to provide competitive pricing, including flexible rental plans, discounts, and package packages, to attract customers. Customer pleasure is also prioritized by rental firms, which ensure equipment availability, timely maintenance, and prompt customer assistance. They spend money on marketing to boost their exposure and offer their services to contractors.
Furthermore, rental firms prioritize remaining current with technical breakthroughs in crushers to provide the most up-to-date and effective equipment. In the concrete crusher rental business, these techniques assist them to achieve a competitive advantage and attract a wider customer base.
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Factors Fueling Demand for Concrete Crusher Rentals Across the United States
The surge in demand for concrete crusher rentals across the United States is primarily driven by the mining industry, which showcased its prowess by generating an estimated US$ 82.3 billion in minerals during 2020. With mining activities often necessitating the extraction of substantial volumes of concrete and rock, efficient crushing methods become essential. Concrete crushers emerge as a potent solution for on-site processing and recycling, mitigating transportation costs and environmental impact.
The imperative for aggregate production significantly amplifies the call for concrete crushers within the mining sector. The byproducts of crushed concrete and rock find utility across various mining applications, encompassing road construction, foundational work, and landscaping endeavors. Additionally, the adaptability and mobility inherent in concrete crushers align seamlessly with the demands of mining operations that frequently require on-site crushing.
As the mining industry continues its dynamic evolution, the demand for concrete crusher rentals is poised to escalate significantly across the United States. The allure of rental services stems from their cost-effectiveness, convenience, and eco-friendly attributes, aligning with the discerning preferences of mining enterprises seeking efficient and sustainable crushing solutions.
The trajectory of increasing government expenditure within the United States further solidifies the robust demand for concrete crusher rental services, projecting an absolute revenue opportunity of US$ 37.7 million during the forecast period. This convergence of industry dynamics and strategic choices points towards a flourishing landscape for concrete crusher rentals, encapsulating efficiency, economic viability, and ecological sensibilities.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the concrete crusher rental market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of the type (jaw, impact, and cone), mobility (mobile (self-propelled) and static (towed)), crushing capacity (1-100 t/h, 101-500 t/h, 501-1000 t/h, above 1000 t/h), application area (construction and demolition, road construction, mining, landfills, concrete recycling), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
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