What’s the latest word on construction equipment rental? BOOM! Demand for rental machines continues to rise—in North America and around the world—according to a new report by Global Market Insights, a leading provider of research and consulting services. Construction equipment rental in the U.S. may approach $15 billion in 2017, on its way to the $23 billion mark by 2024. Why’s rental so popular?
- It’s a quick solution to short-term problems. When you’re working construction, every day brings new challenges. Deadlines shift, the weather turns, equipment needs service. Rental can help you win with the cards you’re dealt while you protect your budget and stay on schedule.
- It’s a path to higher efficiency. Sometimes the best way to raise productivity or increase utilization doesn’t involve an equipment purchase. Renting might make more sense. Whether you’re short a machine or need an extra work tool to finish a job, rental lets you right-size capacity fast, without tying up capital.
- It’s an easy way to try before you buy. If you’re curious about things like telematics or automated grade control, rental is a way to take that technology for a test run. Put a rental unit to work, try out the technology and get comfortable with change before you commit to ownership.
There are other reasons why rental is booming range from improving cash flow and reducing risk to lowering insurance costs, controlling maintenance expenses and navigating regulatory requirements. For more information about how you can benefit from equipment rental, contact your Cat® dealer or visit http://www.cat.com/en_US/products/rental.html