GCC Equipment Rental Market Report and Forecast 2024-2032
Market Report I 2024-06-20 I 169 Pages I EMR Inc.
GCC Equipment Rental Market Report and Forecast 2024-2032
Market outlook
According to the report by Expert Market Research (EMR), the GCC equipment rental market is projected to further grow at a CAGR of 5.80% between 2024 and 2032. Aided by increasing demand for construction and industrial activities and the growing preference for rental equipment over purchasing, the market is expected to significantly grow by 2032.
Equipment rental involves the leasing of machinery, tools, and equipment for a specified period, allowing businesses to access the necessary equipment without the substantial capital investment required for purchasing. This sector has gained significant traction in the GCC (Gulf Cooperation Council) region, driven by rapid industrialisation, urbanisation, and a growing construction sector.
The increasing number of construction projects in the GCC countries, including infrastructure development, real estate expansion, and mega projects like the Qatar 2022 FIFA World Cup and Saudi Arabia's Vision 2030, is a primary driver of the GCC equipment rental market. These projects require a wide range of construction equipment, from heavy machinery to smaller tools, and renting offers a cost-effective solution to meet these needs without the high upfront costs of purchasing, leading to GCC equipment rental market growth.
Moreover, the growing preference for rental equipment over purchasing is contributing significantly to the market growth. Renting equipment provides flexibility, reduces maintenance and storage costs, and allows access to the latest technologies. This trend is particularly evident in the construction, oil and gas, and manufacturing industries, where equipment needs can vary greatly over time.
The GCC's economic diversification efforts are also playing a significant role in propelling the equipment rental market. Countries in the region are investing heavily in non-oil sectors to reduce their dependence on oil revenues. This diversification is leading to increased industrial activities, infrastructure development, and commercial projects, all of which drive the demand for rental equipment.
The market is witnessing diverse applications across various sectors, further bolstering its growth. In the construction sector, rental equipment is essential for various activities, including excavation, earthmoving, lifting, and material handling. The growing number of infrastructure projects, such as highways, bridges, airports, and residential complexes, is driving the demand for rental construction equipment, consequently driving up the GCC equipment rental market share.
In the oil and gas sector, equipment rental is crucial for drilling, exploration, production, and maintenance activities. The region's vast oil and gas reserves and ongoing exploration and production activities necessitate the use of specialised equipment. Renting this equipment provides flexibility and cost savings, allowing companies to optimise their operations.
The manufacturing sector also benefits significantly from equipment rental. Manufacturing processes often require specialised machinery and tools, which can be expensive to purchase. Renting allows manufacturers to access the necessary equipment without the high capital investment, enabling them to maintain operational efficiency and respond to changing market demands.
As per the GCC equipment rental market analysis, in the logistics and warehousing sector, equipment rental is used for material handling, storage, and transportation. The growing e-commerce industry and the increasing need for efficient supply chain management are driving the demand for rental equipment in this sector. Forklifts, pallet jacks, and other material handling equipment are commonly rented to meet the dynamic needs of logistics operations.
Market Segmentation
The market can be divided based on equipment category, end use, and region
Market Breakup by Equipment Category
- Power Generation
- Temporary Buildings
- Hoist and Access
- Air and Steam
- Cargo Containers
- Climate Control
- Mobile Lighting
- Welding Machines
- Material Handling
- Others
Market Breakup by End Use
- Telecom
- BFSI
- Mining
- Oil and Gas
- Construction
- Manufacturing
- Agriculture
- Others
Market Breakup by Region
- Saudi Arabia
- United Arab Emirates
- Kuwait
- Oman
- Qatar
- Bahrain
- Others
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global GCC equipment rental market. some of the major players explored in the report by expert market research are as follows:
- Aggreko Middle East Ltd.
- Byrne Equipment Rental LLC
- Rental Solutions & Service LLC
- SES Smart Energy Solutions FZCO
- KPS Power Generation
- Saudi Diesel Equipment Co Ltd
- Almar Container Saudi Company Limited
- Neeraan International
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 GCC Equipment Rental Market Overview
8.1 Key Industry Highlights
8.2 GCC Equipment Rental Historical Market (2018-2023)
8.3 GCC Equipment Rental Market Forecast (2024-2032)
9 GCC Equipment Rental Market by Equipment Category
9.1 Power Generation
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Temporary Buildings
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Hoist and Access
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Air and Steam
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Cargo Containers
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Climate Control
9.6.1 Historical Trend (2018-2023)
9.6.2 Forecast Trend (2024-2032)
9.7 Mobile Lighting
9.7.1 Historical Trend (2018-2023)
9.7.2 Forecast Trend (2024-2032)
9.8 Welding Machines
9.8.1 Historical Trend (2018-2023)
9.8.2 Forecast Trend (2024-2032)
9.9 Material Handling
9.9.1 Historical Trend (2018-2023)
9.9.2 Forecast Trend (2024-2032)
9.10 Others
10 GCC Equipment Rental Market by End Use
10.1 Telecom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 BFSI
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Mining
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Oil and Gas
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Construction
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Manufacturing
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032)
10.7 Agriculture
10.7.1 Historical Trend (2018-2023)
10.7.2 Forecast Trend (2024-2032)
10.8 Others
11 GCC Equipment Rental Market by Country
11.1 Saudi Arabia
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 United Arab Emirates
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Kuwait
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Oman
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Qatar
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Bahrain
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyer's Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Aggreko Middle East Ltd.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Byrne Equipment Rental LLC
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Rental Solutions & Service LLC
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 SES Smart Energy Solutions FZCO
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 KPS Power Generation
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Saudi Diesel Equipment Co Ltd
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Almar Container Saudi Company Limited
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Neeraan International
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. GCC Equipment Rental Market: Key Industry Highlights, 2018 and 2032
2. GCC Equipment Rental Historical Market: Breakup by Equipment Category (USD Million), 2018-2023
3. GCC Equipment Rental Market Forecast: Breakup by Equipment Category (USD Million), 2024-2032
4. GCC Equipment Rental Historical Market: Breakup by End Use (USD Million), 2018-2023
5. GCC Equipment Rental Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. GCC Equipment Rental Historical Market: Breakup by Country (USD Million), 2018-2023
7. GCC Equipment Rental Market Forecast: Breakup by Country (USD Million), 2024-2032
8. GCC Equipment Rental Market Structure
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