Denmark Construction Equipment Rental Market Research Report, 2028

The Danish rental industry is dominated by businesses with less than 50 employees, with the bulk of these businesses being small and independent. Although the market is fragmented, this does not imply that it is immature or underinvested. The combination of international and domestic rental enterprises has kept investment at a high level, especially with new entries from neighbouring Nordic regions. The market, like Sweden, is known for strong demand for new gear with good environmental performance. For Danish contractors and government organisations, eco-solutions, as well as fuel and energy efficiency, are essential problems. Experts have also seen an increase in the pharmaceutical industry in the last 18 months, which will continue to play a role in the future, particularly in the so-called "Medicon Valley," where large pharmaceutical companies seek to invest and expand their operations. Preston Rentals ApS, Riwal Danmark A/S, Godik Fyn, and among others are the agencies operating in construction equipment rental market of Denmark. According to the research report, “Denmark Construction Equipment Rental Market Research Report, 2028” published by Actual Market Research, the market is projected to grow at a significant rate by 2028. Danish rental turnover is predicted to grow moderately in 2021 when compared to other European markets. The construction industry continues to account for 70% of rental market revenue. As a result, the rental market is intrinsically linked to the construction sector, which benefits from increasing construction output, particularly in the non-residential and infrastructure sectors. The DKK160 billion to update national infrastructures and the Femern project for the undersea tunnel between Germany and Denmark, totalling over DKK55 billion and projected to last until 2029, will be two of the primary projects driving the infrastructure segment in Denmark. The growing emphasis on infrastructure and the advancement of automation in construction and manufacturing processes have had a significant impact on market growth. The road construction machinery industry has grown significantly in recent years as a result of expanded road development plans conducted by the federal and state governments. Renting construction equipment has become more popular as the cost of the equipment and the maintenance procedures have risen. Aside from the cost, there are other advantages to renting construction equipment. Rental firms provide the machinery as well as the requisite experienced machine operators and drivers. The Danish economy was one of the most resilient in Europe in 2020, with GDP expanding by 0.5%. The biggest adverse risk, given Denmark's significant export economy, is that the pandemic would severely disrupt global supply chains. Infections increased dramatically in December 2020, forcing GDP to fall in the first quarter of 2021. The government's rapid responses, as well as the success of the immunisation programme and seasonal impacts, are projected to mitigate this fall in the second half of 2021. Danish monetary policy has recently undergone significant changes, including major rate cuts. This policy shift, along with a solid commitment to the euro peg, is intended to improve financial market stability. Negative interest rates, on the other hand, limit lending. Meanwhile, consumer confidence is up over last year and the unemployment rate is low, indicating a bright future for consumer purchasing. Construction gained 1.6% in 2020, with the residential sector growing 4.6%. Residential spending, which accounts for 52% of total spending, is predicted to grow at the second-fastest rate after structures during the next decade, while infrastructure is expected to grow moderately through 2025 before remaining flat until 2030. This is because of Denmark's strong infrastructure development and a flat growth profile in the transportation sub-segment after 2025. Despite a decline in Germany's manufacturing sector, Denmark's largest bilateral trading partner, overall industrial growth (excluding construction) was 3% in 2020, with manufacturing expanding 4.3%. Manufacturing growth is expected to remain between 2-2.5%. Pharmaceuticals grew by 15.4%, whereas machinery grew by 5.5%. Pharmaceuticals and renewable energy-related machinery are key non-cyclical exports. The headline manufacturing PMI® was 62.1 in June 2021 (numbers above 50 indicate expansion), with the input costs sub-index declining 10 points to 78.1 and suppliers' delivery times increasing by more than fourteen points to 34.3. These signs indicate that conditions will improve in the third quarter of 2021 as input prices fall and delivery times reduce. Following several years of investment and expansion, there are significant concerns about the intensity of competition, which is being driven by fleet overcapacity in Denmark. Pressure on large players as well as medium-sized firms that have already begun the consolidation process continues to build. Large-scale infrastructure projects are now underway across the country, indicating a positive investment trend. Covid-19 Impact The spread of COVID-19 contributed to the decline of the Denmark Construction Equipment rental sector as a result of disruptions in the supply chain and production discontinuity. Furthermore, construction site closures and event cancellations have serious consequences for the equipment rental industry, including the health and safety of rental company employees, the suspension or cancellation of rental contracts, the management and maintenance of machinery, and the ability to retain staff and pay salaries. Considered in this report • Geography: Denmark • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Denmark Construction Equipment 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 & Road Construction • Others By Application type • Residential • Non-Residential • Others (Infrastructure, industrial, real estate, etc.) 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 listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing 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 conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Construction equipment 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.