Italy Construction Equipment Rental Market Research Report, 2028

In Italy, the market is particularly dynamic, with a 54% increase in construction investment in the second quarter of 2020 compared to the same period last year. The work is also taking longer, ranging from 7 to 12 months on average and up to 20 months for public works projects. Furthermore, the number of construction equipment rental companies approached 5,000 in 2020. The industry is likely to produce the most demand, owing to the "Italy Recovery and Resilience" programme, which is expected to continue to dominate the construction equipment market over the projection period. The construction equipment market in Italy is converting to a more innovative industry faster than other emerging nations around the world by shifting to intelligent systems powered by IoT and data analysis for service, networking, and sustainability. The government planned to invest USD 35.5 billion to improve public transportation infrastructure under the "Italy Recovery and Resilience" programme, including USD 31.5 billion for high-speed network and road maintenance and USD 4 billion for investment in intermediately and integrated logistics. Access rail links such as the Turin-Lyon line, the 55-kilometer-long Brenner Base Tunnel, and others are also planned for completion by 2025. The route will connect the Italian town of Fortezza with the Austrian city of Innsbruck. Thus, these projects will certainly increase the demand for construction equipment rental market in the foreseeable future. Rentmas, CGT, HSS Cinisello, Bandinelli Sri are the major companies operating in construction equipment rental market of Italy. According to the research report, “Italy Construction Equipment Rental Market Research Report, 2028” published by Actual Market Research, the market is projected to add USD 0.65 Billion by 2028. The rental business is experiencing increased demand as a result of rising equipment costs, increased economic insecurity, a cash crisis, technical advancements, and major infrastructural construction. Contractors prefer to hire construction equipment to control project costs, which have risen due to increases in labour and raw material prices. Rental companies are heavily investing in technologically innovative and environmentally friendly construction equipment in order to expand their fleet sizes and successfully meet their clients' increasing expectations. Also, the infrastructure improvement projects in rural areas of the country, such as the refurbishment of commercial buildings, railway stations, and airports, the repair of runways, and the extension of roadways and bridges, are fuelling the strong demand for the Italy construction equipment rental industry. According to the World Bank, Italy's population is 59.07 million people, with 28.78 million men and 30.29 million women. The majority of the population, 38.40 million people, is between the ages of 15 and 65. 10.8 million People Rural areas have 56.5 million people, while urban areas have 56.5 million. The World Bank estimated that Italy's GDP in 2021 was 2.1 trillion USD, with an inflation rate of 1.9% and a per capita income of USD 35,551.3. The Italian government boosted the National Health Fund to USD 133.7 billion in 2021. The enhanced National Health Fund is projected to accelerate the expansion of the country's healthcare system, including the establishment of more hospitals. The government has committed USD 110.5 million in healthcare construction in 2022 for building renovation and technological modernization. Italy government development projects Edison SPA, an electricity and natural gas provider, form collaboration with Snam SPA, an energy infrastructure business, to construct the Puglia Green Hydrogen Valley project in Italy. Three green hydrogen production plants will be built in Brindisi, Taranto, and Cerignola as part of the project. Italy has also hastened the electrification of construction equipment. The MoH-Hospital of the Cattinara Redevelopment-Friuli Venezia Giulia project, with a project value of $180 million, was Italy's largest construction project, with construction beginning in Q1 2022. The project MoH - Hospital of Cattinara Redevelopment - Friuli Venezia Giulia is in Trieste, Italy. With a project value of $177 million, the AMZN-San Salvo Distribution Center-Abruzzo project was the second-largest. The third-largest project was the CAP - Sesto San Giovanni Waste Treatment Plant - Lombardy, the fourth-largest project was the MoV - Varna Ring Road - South Tyrol, and the fifth-largest project was the KGAL/SENS - Montecchio Emilia Solar PV Park 17 MW - Emilia-Romagna, with project values of $56 million, $43 million, and $36 million, respectively. Therefore, with increase in the construction activities by government and the private sector the market for construction equipment rental has great potential. Covid-19 Impact The spread of COVID-19 contributed to the decline of the Italy 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: Italy • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Italy 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.