The demolition contractor who walked into the Walter S. Pratt & Sons’ rental office in late 2013 had a problem. Workers were quitting almost as fast as he could hire them. He knew the cause – fatigue from operating handheld air hammers.
The U.S. construction equipment rental business is on a tear. I estimate 2014 total rentals of construction equipment will be $36.6 billion, a gain of 12% over 2013. I also estimate rentals will reach $40.6 billion in 2015 at a growth rate of 11%.
The new GEN2 skid steers and compact track loaders (CTLs) were introduced in September with the intent to offer rental companies machines that could satisfy the end user while earning a competitive and profitable rate.
The economy continues to grow, although the pace might not be as robust as most would like. Still, the uptick continues and it will have a direct impact on your customers' purchasing and rental habits for the coming year.