Overview of Construction Equipment Rental Business in India

India is known to be the world's fastest-growing economy. It is expected to emerge as one of the three biggest construction markets by 2022. The construction equipment industry steers most of the Indian economy and in-general advancement.

Market Overview

Construction markets are now focusing mainly on advancement in automation. This has made quite an impact on the growth of this market. Recently, the state government, as well as central, has undertaken quite a lot of road development programs. These programs have effectively brought about a growth in road construction machinery.

Construction equipment rental rates in India have raised quite a lot than before. This is because people now prefer renting over purchasing. Also, because of the high prices of equipment and their maintenance process. Renting the equipment is quite beneficial because companies not only provide the equipment but also professionals to operate them. Renting allows optimum utilization of the machinery.

There are several big dealers of construction equipment in India. So finding one is not a big problem.

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Types Of Construction Equipment For Sale Or Rent

Here are the three types of construction equipment for sale in India. However, you can also rent them if you don't feel the need to buy them.

  • Earthmoving Appliance- This equipment holds a huge share in the construction market, about 70%. Some of this equipment are scrappers, backhoe, steer, and wheel loaders, excavators, and many more.
  • Material Handling Machinery- Tower cranes, mobile and hydra cranes, crawler cranes and several other falls under this category of equipment. Cranes are quite dominating in the construction equipment rental market.
  • Concrete Equipment- Transit mixers, concrete pumps, aggregate crushers, batching plants are a few of the common concrete equipment in demand.
  • Small Construction Equipment- Small construction equipment rental market is also growing. Due to the compactness of this equipment, they are versatile, beneficial, and multi-tasker.

India is a developing nation that has still much left to build. For that, the construction tool industry is a thriving realm. Small firms cannot always buy this machinery because of its huge price and lofty maintenance cost. That's why many start-ups are now leasing this equipment from the bigger ones.

Conclusion

Every year, construction machinery worth $2300 million is sold in India. Out of the total sale, around 8% is sold to rental firms. This market has also increased employment in India. Over 3 crore people are working in this sector.

The construction machinery market is predicted to rise further shortly.

For more info : - earth moving equipment hire India

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