Heavy Equipment Rental Market By the Numbers

In the construction industry, finding cost-effective solutions is paramount. One approach is purchasing used equipment, which reduces project costs without compromising efficiency. Construction equipment brokers specialize in connecting buyers with suitable used equipment, ensuring the right selection for specific project needs.

Purchasing used equipment offers benefits beyond cost savings. Dealers provide warranty options and maintenance plans, covering expenses and supplies like lubricants. It also protects buyers from initial depreciation, with potential profits through resale.

For smaller businesses, heavy equipment rentals provide a solution. A heavy equipment catalog, offering specific terms like “rent auger for skid steer”, gives you a range of equipment renting services to choose from, like an excavator magnet rental or a mini skid steer with auger rental.

Comparing rental and purchase costs is crucial. Frequent rentals may become more expensive, so businesses should assess which heavy equipment investments are most beneficial. Regardless of the choice, both options present opportunities for expanded services and additional income.

By exploring used equipment sales, heavy equipment rentals, and finding the right balance, construction professionals optimize operations while remaining financially prudent.

Sometimes, construction workers opt to buy used equipment. Choosing to buy used equipment helps to cut down the cost of a construction project. Although the service life of used equipment doesn’t rival that of new equipment, it can still offer a good level of efficiency for construction tasks.

Heavy equipment vehicles and heavy machinery forklift are examples of construction equipment that is sometimes purchased as used. A construction equipment broker is a professional who specializes in the sales of used equipment. Usually, they have an inventory of used construction equipment and they assist in selecting the right equipment for your project.

There are many benefits that come with purchasing used equipment apart from the lower cost of acquisition. Used equipment dealers often offer warranty or maintenance plans for purchased equipment. Maintenance plans help to cover not just maintenance expenses but also supplies such as lubricants. Purchasing used equipment also protects you from initial depreciation on equipment. If the equipment is kept in good shape, profit from a resale is also possible.

Do you need used equipment sales? Search for the terms ‘construction equipment used for sale’ and ‘buy used equipment near me’ to locate used equipment dealers at your location.

Updated 2/1/21

A heavy equipment rental might be the solution for a small construction or renovation business. While they need access to these machines, they don’t need them every day and they can’t necessarily afford to get them. So it is worth looking into heavy equipment rental places near me in order to find out what is available and for how much. A heavy construction equipment rental might be worth it if you only need the equipment temporarily.

However, you might find that renting as often as you would need to can be more expensive than buying. If that ends up being the case, you should look into heavy equipment distributors and other places that might have heavy construction machinery for sale. Whether you rent or buy, you can save money by looking into which option works best for you. This is especially true for small businesses that might need to decide whether to spend their budget on one piece of heavy equipment or another. This opens up service opportunities to these companies, which provides them with the opportunity for more income.

By 2015, the construction industry expects the global construction equipment market to reach $145.5 billion. But since the Great Recession began in 2008, a greater share of the equipment market has been taken over by the construction equipment rental industry, particularly heavy equipment rentals.

By renting construction equipment like tools and heavy equipment, construction companies can greatly reduce their overhead. Plus, smaller companies can achieve greater flexibility by renting equipment as needed. By some estimates, more than half of all new equipment now ends up on rental lots. So just how big has the U.S. heavy equipment rental industry grown over the last few years? Let’s break down the numbers:

  • Annual Revenue: $35 billion
  • Annual Growth Rate: 5.8%
  • Employment: 80,360

As the economy improves, demand for this equipment is expected to continue growing through at least 2020. Experts say that part of the reason behind the rapid growth is a low starting point. In 2010, the construction industry was still recovering from the housing market collapse, which depressed commercial construction as well. So as residential and commercial construction picks up again, and as mining and transportation companies increase spending as well, the rental market has grown accordingly.

What types of heavy equipment have been driving this growth? Some of the highest demand is for crawler dozers, excavators, and wheel loaders. Various types of aerial lifts are also some of the most frequently rented heavy equipment. This includes scissor lift equipment, electric boom lifts, and portable lifting equipment.

The United States is the second largest construction market in the world, and ultimately the rental market is dependent on the strength of the overall construction industry, but also related fields like the oil and gas industry. That means the rental market could be vulnerable to the ongoing downturn in the oil industry, but so far an increase in construction starts has offset any losses.



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