Italy Construction Equipment Rental Market to Reach $1.67 Billion by 2029, Growing at a CAGR of 5.57% During 2022-2029 - Arizton

CHICAGO, May 4, 2023 /PRNewswire/ -- According to Arizton's latest research report, the Italy construction equipment rental market will grow at a CAGR of 5.75% during 2022-2029.

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Integrating digital technology in the rental fleet, adopting technological solutions, and adding electric construction equipment are key trends in the Italy construction equipment rental industry. The launch of 'Relaunch Decree' & 'Super Bonus' in 2020 focused on the residential sector and is expected to propel the demand for rental construction equipment during the forecast period. The same year, the government also launched the 'Super-Bonus,' a tax benefit for families who upgrade their property to meet energy efficiency requirements. The requirements include the external insulation coating for at least 25% of the building.

Italy Construction Equipment Rental Market Report Scope

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Market Insights

• The material handling segment accounted for the largest Italy construction equipment rental market share in 2022. In the material handling segment, aerial platforms accounted for the largest share in 2022.
• In 2022, the government announced an investment of USD 4.1 billion to upgrade water infrastructure and reduce leaks in cities and the agricultural sector. This will include checking the water supply, detecting and revamping leaks, and checking water networks of new aqueducts, reservoirs, and dams. It will also include revitalizing irrigation channels.
• The government of Italy, in 2022, invested a total of USD 3.1 billion in road and rail links across the country. The plan includes six rail infrastructure projects, three road infrastructures, two port infrastructures, two transport building works, five railway stations, one water project, one port project, and one project linked to rapid mass transport for promoting sustainable mobility.
• The construction of various infrastructure and residential projects in the country is expected to drive the demand for renting aerial platforms in the Italy construction equipment rental market. For Instance, MilanoSesto, a mixed-use development project with an investment of USD 7.3 billion- and 69-acres Union Zero is constructing seven buildings worth USD 1.4 billion in Sesto San Giovanni in Milan. Another project, Margaritaville Resort on Fort Myers Beach, will include 254 luxurious rooms and apartments.
• Under the 'Next Generation Italia' Recovery Plan, USD 211.0 billion was granted, including USD 29 billion for high-speed roads, USD 3.9 billion for logistics transport, and USD 30.6 billion for energy efficiency. Additionally, programs in Italy, for instance, 'Italia Veloce,' aimed to relaunch 60 major infrastructure projects, such as the high-speed line between Brescia and Padua.
• In 2023, Italy joined the US-led Mineral Security Partnership that promotes ethical mining. This partnership will restrict countries from investing in projects that might destroy precious rainforests.

Geographical Insights

The government in Lombardy launched the Smart Living measure, which aims to support the revival of the construction industry by encouraging companies to promote innovation and the acceptance of digital and new construction technologies. A budget of $16.6 billion was made to support research and development (R&D) projects in the construction field in 2021. Lombardy tops in the Italian agriculture sector and heavily depends on its meat and dairy products. The region accounts for approximately 70% of the agriculture production in Italy. Milan's capital is an important city with commercial and industrial centers. Milan is also the country's financial hub, comprising the largest banks and the Borsa Italiana stock exchange.

Market Drivers

Rising Investments and Favorable Government Policies Toward Residential Sector

Increased Investment in Renewable Energy Projects

Increased Government Investment in Public Transport & Rail Infrastructure

Market Trends

Integrating Digital Technology in Rental Fleet

Adoption of Technological Solutions

Addition of Electric Construction Equipment

Market Challenges

Skilled Labor Shortage in Country

Surge in Mortgage Rates

Rising Construction Costs

Market Opportunities

Economic Uncertainty

Incorporation of Digital Technology

Surge in New Equipment Prices

Market Vendors

Prominent Vendors

• Caterpillar
• Komatsu
• Volvo Construction Equipment
• Hitachi Construction Machinery
• Liebherr
• Hyundai Construction Equipment
• CNH Industrial
• JCB
• SANY

Other Prominent Vendors

• Kobelco
• Yanmar
• Manitou Group
• Merlo Spa
• John Deere

Rental Companies Profile

• Kiloutou
• CGT S.p.A.
• MOLO SRL
• Jungheinrich
• Loxam Piattaforme Aeree
• Federservizi

Market Segmentation

Type

• Earthmoving Equipment
• Excavator
• Backhoe Loaders
• Wheeled Loaders
• Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
• Road Construction Equipment
• Road Rollers
• Asphalt Pavers
• Material Handling Equipment
• Crane
• Forklift & Telescopic Handlers
• Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
• Other Construction Equipment
• Dumper
• Tipper
• Concrete Mixture
• Concrete Pump Truck

End Users

• Construction
• Mining
• Warehouse & Logistics
• Others

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Italy Construction Equipment Market - Strategic Assessment & Forecast 2022-2028: Italy construction equipment market sales to reach 119,681 units by 2028. Growth in the construction, manufacturing, mining, and renewable energy sector due to increasing government investment is expected to support the demand.

Table of Content

Section 1 – Research Methodology

Section 2 – Research Objectives         

Section 3 – Research Process

Section 4- Introduction

4.1 Market Coverage

4.2 Report Scope

Section 5- Market at a Glance

5.1 Market Snapshot

Section 6- Executive Summary

Section 7- Market Landscape

7.1 PESTLE Analysis

7.2 Economic Scenario

7.3 Market Dynamic

7.4 Key Economic Region

7.5 Rental Construction Equipment Circular Economy Model

7.6 Advantages of Rental Construction Equipment Over New Equipment

7.7 Parameters Required to Consider Before Renting Construction Equipment

Section 8- Segmentation

8.1 By Equipment Type

8.1.1 Equipment Definition (Earthmoving)

8.1.1.1 Earthmoving Equipment (Value)

8.1.1.2 Excavators

8.1.1.3 Backhoe Loaders

8.1.1.4 Wheeled Loaders

8.1.1.5 Other Earthmoving Equipment

(Other Loaders, Bulldozers, Trenchers, etc.)

8.1.2 Equipment Definition (Road Construction)

8.1.2.1 Road Construction (Value)

8.1.2.2 Road Rollers

8.1.2.3 Asphalt Pavers

8.1.3 Equipment Definition (Material Handling)

 8.1.3.1 Material Handling Equipment (Value)

8.1.3.2 Cranes

8.1.3.3 Forklifts & Telehandlers

8.1.3.4 Aerial Platforms

8.1.4 Equipment Definition (Other Equipment)

 8.1.4.1 Other Equipment (Value)

8.1.4.2 Dumpers

8.1.4.3 Tippers

8.1.4.4 Concrete Mixers

8.1.4.5 Concrete Pump Trucks 

8.2 By End-users

8.2.1 End-user Definition

  8.2.2 Construction

  8.2.3 Warehouse & Logistics

  8.2.4 Mining

8.2.5 Others (Waste Management, Agriculture, Oil & Gas Extraction, Utilities & Energy, Power Generation, Disaster Management and Water Management)

Section 9- Geographical Analysis

Section 10- Technological Development

Section 11- Competitive Landscape

11.1 Competitive Landscape Overview

11.2 Vendors (Caterpillar | Volvo Construction Equipment| Komatsu | Hitachi Construction Machinery | Liebherr | JCB | Merlo Spa| Kobelco| Kubota | CNH Industrial| Manitou Group| John Deere| Yanmar| SANY| Hyundai Construction Equipment

11.3 Other Prominent Vendors

11.4 Rental Company Profiles

Section 12- Report Summary

12.1 Key Insights

12.2 Abbreviation

12.3 Exhibits

12.4 Related Report

12.5 Database

12.6 Global Reach

12.7 Offerings

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