Material Lift Rental Market Is Projected To Value Of US$ 28.9 Billion In 2023

Rental of material lifts Demand is increasing and is expected to rise at a 5.1% annual rate throughout the projection period, reaching a valuation of US$ 47.5 billion in 2033, up from US$ 28.9 billion in 2023.

Material lifts are vertical platform elevators that are often used in industrial and commercial contexts to carry items and materials between multiple floors of a structure. Renting material lifts saves money, provides flexibility, eliminates the need for maintenance, and avoids the commitment to long-term ownership of equipment.

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Competitive Landscape:
Key Players:
• BlueLine Rental
• Haulotte Group
• Herc Rentals
• Kennards Hire
• NES Rentals
• Sunbelt Rentals
• United Rentals

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Regional Analysis:

China is constantly investing in infrastructure and building projects, which increases the demand for material lifts to carry large materials and conduct other duties, generating chances for the material lift rental market to develop. As an example:

The entire investment in new infrastructure during the 14th Five-Year Plan Period is expected to be around 27 trillion yuan (US$ 4.2 trillion).
As a result, the expanding construction sector propels the material lift rental market. Furthermore, the expansion of the equipment rental market in China suggests that more enterprises are resorting to rental services as a cost-cutting approach, which might push demand for material lift rental services even further.

India is undergoing major infrastructure development, with the government investing in programs such as highway modernization, the Smart Cities Mission, and the Atal Mission for urban renewal and transformation. The need for material lifts in different construction applications, including as high-rise building construction, bridge construction, and road construction, has expanded as a result of this vigorous development. This pattern is predicted to persist in the near future.

Key Segments of Industry:
• By Type :
o Scissor Lifts
o Boom Lifts
o Forklifts
o Pallet Jacks
o Vertical Mast Lifts
o Material Hoists
o Mobile Lift Tables
o Others
• By Functionality :
o Lifting only
o Lifting and Reach
o Lifting and Carrying
• By Operational Features :
o Manual Lifts
o Electric Lifts
o Hydraulic Lifts
o Pneumatic Lifts
o Self-Propelled Lifts
• By Lift Height :
o Less than 50 Feet
o 50-100 Feet
o 100-150 Feet
o Above 150 Feet
• By End Use :
o Construction and Infrastructure
o Aerospace and Defence
o Entertainment and Events
o Facilities and Maintenance
o Industrial and Manufacturing
o Telecommunication and Utilities
o Transportation and Logistics
o Others

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This release was published on openPR.