Dublin, July 20, 2023 (GLOBE NEWSWIRE) -- The "2023 North American Trench Shoring Equipment Rental Market" report has been added to ResearchAndMarkets.com's offering.
The North American Trench Shoring Equipment Rental Market exhibited remarkable strength, achieving revenues of $1,858.5 million in 2022, despite facing challenges from the COVID-19 pandemic and supply chain constraints. A recent analysis conducted on the market reveals its substantial growth over the past three years, driven by increased work activity and projected to maintain a compound annual growth rate (CAGR) of over 6.0% from 2022 to 2029.
Although the market has shown impressive resilience and growth, a temporary deceleration is expected in its expansion during 2023 and 2024. This slowdown can be attributed to a reduction in construction activities for residential and non-residential projects, as well as challenges related to implementing federal infrastructure funding. Nevertheless, the market is poised to regain momentum due to infrastructure expansion, investments in upgrading pipeline and water infrastructure, heightened awareness, and enhanced regulations governing trench shoring equipment usage.
A significant driving force behind the North American Trench Shoring Equipment Rental Market is the Bipartisan Infrastructure Law (BIL), also known as the Infrastructure Investment and Jobs Act. This law, enacted in November 2021, earmarked over $1 trillion for infrastructure improvements in the United States, including dedicated funds for transportation, water, and broadband infrastructure projects. The BIL's implementation is expected to stimulate construction activity, resulting in a higher demand for trench shoring equipment rental to ensure worker safety during construction.
Moreover, the investment in upgrading pipeline infrastructure will further contribute to the increased demand for trench shoring equipment rental. As more pipelines are upgraded and installed, the need for shoring equipment to ensure worker safety and prevent soil collapse during excavation and construction will rise, especially in industries like oil and gas, which have stringent safety requirements.
Among the various end-user segments (water, wastewater, and storm infrastructure; oil & gas distribution infrastructure; transport infrastructure; and electrical utility), the water, wastewater, and storm infrastructure sector accounted for half of the total market in 2022. This sector is expected to experience the highest growth during the forecast period, driven by the $55 billion allocated to water infrastructure by the BIL and the realization of projects aimed at upgrading water infrastructure to reduce sewage overflows and comply with the Clean Water Act.
The comprehensive report on the North American trench shoring equipment rental market captures the growth drivers, restraints, market trends, market share by revenue, and the competitive supplier landscape. The research segments the market into shoring shields, hydraulic shoring, road plates, and slide rail systems, and includes end-user industries such as water, wastewater & storm infrastructure, oil & gas distribution infrastructure, transport infrastructure, electrical utility, and others.
The study aims to provide a detailed analysis of the North American trench shoring equipment rental market, including qualitative trends for the year 2022. Trench shoring equipment, used for temporary applications, ensures customers can safely work in excavation environments and comply with OSHA and other safety-organization guidelines.
The market numbers included in the report represent revenues generated by companies operating in the trench shoring equipment rental market in the United States and Canada. The base year for the study is 2022, and the forecasts are provided until 2029.
Key Topics Covered:
I. Research Scope, Methodology
II. Segmentation by type of equipment and end user
III. Executive Summary
a. Revenues by end user
b. Major Data Points
c. North American Trench Shoring Equipment Rental Market Revenues, 2022 & 2029
d. Major trends
e. Market drivers
f. Market restraints
g. Main market participants
IV. Market Drivers
V. Market Restraints
VI. Market Trends
a. Increasing rental rates
b. Training on trench safety
c. Repair of trench shoring equipment
d. Use of automatic attachment system
e. Inflatable shoring
VII. Market data
a. North American Trench Shoring Equipment Rental Market revenues (2022-2029)
b. United States Trench Shoring Equipment Rental Market revenues (2022-2029)
c. Canada Trench Shoring Equipment Rental Market (2022-2029)
d. North American Trench Shoring Equipment Rental Market revenues by equipment type (Slide Rail, Trench Shield, Road Plates, Hydraulic Shoring)
e. North American Trench Shoring Equipment Rental Market revenues by end user (2022)
f. North American Trench Shoring Equipment Rental Market revenues by end user (2029)
VIII. Competitive Landscape
a. North American Trench Shoring Equipment Rental Market share by company, 2022
b. Major M&A in the trench shoring equipment rental market.
c. Competitive factors
d. Quotes from the industry
IX. Company Profiles
a. Cooper Trench Safety
b. D.P. Nicoli
c. Finning International
d. Icon Equipment Distributors
e. National Trench Safety LLC.
f. Sunbelt Rentals Inc.
g. Sunstate
h. Toromont Industries Ltd.
i. Trench Shore Rentals
j. Trench Shoring Company
k. United Rentals Inc.
For more information about this report visit https://www.researchandmarkets.com/r/9idqwi
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