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Major factors driving the growth of construction equipment rental market size are :
Renting avoids expenses due to maintenance, immoderate operational costs, high wages of skilled operators, also high initial investment and financial constraints can be avoided.
Renting also shields companies from locking their capital during economic uncertainty, global pandemic like COVID-19 by cancelling the equipment contracts when the demand drops.
Major infrastructure projects in emerging markets and a boom in residential construction in the US and Europe during the forecasted year:
Request a Sample Copy of the Report For COVID-19 Impact Analysis on Construction Equipment Rental Market:
TRENDS INFLUENCING THE CONSTRUCTION EQUIPMENT RENTAL MARKET SIZE
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KANSAS CITY, Mo., April 1, 2021 /PRNewswire/ Nesco Holdings, Inc. (NYSE: NSCO) ( Nesco ), which has been renamed as Custom Truck One Source, Inc. (the Company ) effective today, in partnership with an affiliate of Platinum Equity, LLC ( Platinum ), today announced the closing of the previously announced transaction to acquire Custom Truck One Source, L.P. ( CTOS ) for a purchase price of $1.475 billion. Nesco and CTOS are leading providers of specialized truck and heavy equipment solutions, including rental, sales and aftermarket parts and service.
The Company is headquartered in Kansas City, Missouri and led by CTOS co-founder and CEO Fred Ross. The combination creates a leading, one-stop-shop provider of specialty rental equipment, serving highly attractive and growing infrastructure end markets, including the transmission and distribution energy grid, the 5G revolution build-out and critical rail and other national infrastructure ini