South Korea Construction Equipment Rental Market Overview, 2028

South korea Construction equipment Rental market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition, Forecast & Opportunities.

South Korea's economy has grown to be the world's eleventh-largest and the fifth-largest exporter of products and services. Being leaders in the field, several industries are engaged in offering their clients rental services for high-end earthmoving equipment. To maintain its reputation in the market, these services are given in accordance with the established standards. In addition, the hiring of the staff members providing these services follows a careful evaluation of their qualifications. Japan is likewise seen as having the fastest growth in the Asia Pacific throughout the anticipated period. The growth of the Asia-Pacific machinery leasing market is accelerated by the expansion of the construction industry, an increase in the number of rental services as contractors and dealers choose rentals to lower operational and maintenance costs, and an increase in the number of infrastructure projects in the region. According to the research report "South Korea Construction Equipment Rental Market Overview, 2028," published by Bonafide Research, the South Korean Construction Equipment Rental market is expected to add USD 0.93 billion by 2028. Construction tools will be in high demand when the infrastructure for South Korea's power system reform is built. Infrastructure in South Korea, including greenhouses and power plants, will stimulate demand for material handling and the entire construction rental equipment sector. The market for construction rental equipment in South Korea has the largest segment in 2021 for material handling equipment, followed by earthmoving and road construction equipment. In order to remain competitive in the market, market participants are making a significant contribution to market growth by using a variety of tactics, such as mergers and acquisitions, partnerships, funding, and the launch of new products.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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The market for renting construction equipment is divided into three categories based on the type of equipment used: earth movement, material handling, and road building and concrete.Earth movement equipment refers to, motorised vehicles that are used to spread, haul, dig, or move earth or other materials. These tools, such as excavators, loaders, dozers, and motor graders, are frequently used to move or remove substantial amounts of soil as well as to lay foundations and design landscapes. The selection of earthmoving equipment is heavily influenced by the volume of material to be moved, the type of soil already present, and compaction issues. Due to the increasing infrastructure investments being made to upgrade public and private infrastructures, businesses that hire earthmoving equipment now have a chance. Earthmoving equipment is expensive and requires significant capital commitments for installation. South KoreanPurchasing a construction machine is frequently out of the question for medium-sized and small building projects. Even used machines, which are more affordable, are sometimes out of reach. The machine is used too infrequently and at an excessively high cost. Order flexibility benefits small construction businesses in particular.Both the selection of the machines and the scheduling must be flexible. On a building site, they may occasionally require a mini-excavator, a dozer, or a telescopic loader—all preferably nowadays. For these temporary assignments, construction machinery leasing is the ideal choice. Although they often maintain a fleet of earthmoving equipment, large construction businesses frequently require the use of construction machinery rentals since concurrent projects might create bottlenecks. A wheel loader or excavator rental can easily address the capacity issue. Renting specialised equipment, such as excavators for rail roads or material handling equipment, is frequently advantageous. Many South Korean rental equipment businesses offer a broad selection of top-notch earthmoving machines and material handling machines, from demolition excavators to rail-road excavators. that rent excavators, loaders, and dumpers along with the necessary attachment equipment. COVID-19 impact: In South Korea, the construction rental equipment market is not much affected by the COVID-19 pandemic. Construction equipment rental is increasing during certain times of the COVID-19 pandemic because the government has prioritised certain projects and infrastructure. So the market for rental equipment is not affected by the pandemic.

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Manmayi Raval

Manmayi Raval

Research Consultant

Considered in this report • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South Korea Construction Rental market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By equipment Type: • Earthmoving • Material handling • Concrete and road construction

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Manmayi Raval

By Application Type: • Residential • Non residential • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Construction Rental industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Market Structure
  • 2.1. Market Considerate
  • 2.2. Assumptions
  • 2.3. Limitations
  • 2.4. Abbreviations
  • 2.5. Sources
  • 2.6. Definitions
  • 2.7. Geography
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. South Korea Macro Economic Indicators
  • 5. Market Dynamics
  • 5.1. Key Findings
  • 5.2. Key Developments - 2021
  • 5.3. Market Drivers & Opportunities
  • 5.4. Market Restraints & Challenges
  • 5.5. Market Trends
  • 5.6. Covid-19 Effect
  • 5.7. Supply chain Analysis
  • 5.8. Policy & Regulatory Framework
  • 5.9. Industry Experts Views
  • 6. South Korea Construction Equipment Rental Market Overview
  • 6.1. Market Size By Value
  • 6.2. Market Size and Forecast By Equipment Type
  • 6.3. Market Size and Forecast By Application
  • 7. South Korea Construction Equipment Rental Market Segmentations
  • 7.1. South Korea Construction Equipment Rental Market, By Equipment Type
  • 7.1.1. South Korea Construction Equipment Rental Market Size, By Earthmoving, 2017-2028
  • 7.1.2. South Korea Construction Equipment Rental Market Size, By Concrete & Road Construction, 2017-2028
  • 7.1.3. South Korea Construction Equipment Rental Market Size, By Material Handling, 2017-2028
  • 7.1.4. South Korea Construction Equipment Rental Market Size, By Others, 2017-2028
  • 7.2. South Korea Construction Equipment Rental Market, By Application
  • 7.2.1. South Korea Construction Equipment Rental Market Size, By Residential, 2017-2028
  • 7.2.2. South Korea Construction Equipment Rental Market Size, By Non-Residential, 2017-2028
  • 7.2.3. South Korea Construction Equipment Rental Market Size, By Others, 2017-2028
  • 8. South Korea Construction Equipment Rental Market Opportunity Assessment
  • 8.1. By Equipment Type, 2023 to 2028
  • 8.2. By Application, 2023 to 2028
  • 9. Competitive Landscape
  • 9.1. Porter's Five Forces
  • 9.2. Company Profile
  • 9.2.1. Company 1
  • 9.2.2. Company 2
  • 9.2.3. Company 3
  • 9.2.4. Company 4
  • 9.2.5. Company 5
  • 9.2.6. Company 6
  • 9.2.7. Company 7
  • 9.2.8. Company 8
  • 10. Strategic Recommendations
  • 11. Disclaimer

List of Table
Table 1 : Influencing Factors for Global Construction Equipment Rental Market, 2022
Table 2: South Korea Construction Equipment Rental Market Size and Forecast By Equipment Type (2017, 2022 & 2028F)
Table 3: South Korea Construction Equipment Rental Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 4: South Korea Construction Equipment Rental Market Size of Earthmoving (2017 to 2028) in USD Billion
Table 5: South Korea Construction Equipment Rental Market Size of Concrete & Road Construction (2017 to 2028) in USD Billion
Table 6: South Korea Construction Equipment Rental Market Size of Material Handling (2017 to 2028) in USD Billion
Table 7: South Korea Construction Equipment Rental Market Size of Others (2017 to 2028) in USD Billion
Table 8: South Korea Construction Equipment Rental Market Size of Residential (2017 to 2028) in USD Billion
Table 9: South Korea Construction Equipment Rental Market Size of Non-Residential (2017 to 2028) in USD Billion
Table 10: South Korea Construction Equipment Rental Market Size of Others (2017 to 2028) in USD Billion

List of Figures
Figure 1: South Korea Construction Equipment Rental Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 2: Market Attractiveness Index, By Equipment Type
Figure 3: Market Attractiveness Index, By Application
Figure 4: Porter's Five Forces of South Korea Construction Equipment Rental Market
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South Korea Construction Equipment Rental Market Overview, 2028

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