EquipmentWatch released its 2016 Tier 4 Benchmark Report, finding that while adoption of Tier 4 diesel equipment is slow, first overhauls can be expected to be quite a bit more costly in the coming months. Developed in partnership with the Association of Equipment Management Professionals (AEMP), the report analyzes responses from more than 300 major equipment and rental companies to measure the true impact of the Tier 4 Final transition on the heavy equipment industry.
The report measures overall adoption and practical impacts of ownership of Tier 4 assets. Overhaul for some types of Tier 4 equipment could potentially be happening in the next couple of years and 65% of respondents expect overhaul costs for Tier 4 equipment to be more expensive than Tier 3 overhaul costs, estimating an average of 19% more costly than rebuilding Tier 3 equipment. Wages for mechanics qualified to work on Tier 4 equipment have increased $20 since last year's survey.
EquipmentWatch, a provider of data, software and insights to the heavy equipment industry, and AEMP partnered for a second time to survey the heavy equipment community and gauge how heavy equipment operators are implementing new engine technology, as well as to better understand the reality regarding Tier 4 technology's impact on the industry.
“This is our second annual report, and Tier 4 equipment trends are taking shape more clearly across the industry,” says Garrett Schemmel, Vice President and Market Leader, EquipmentWatch. “We’ve taken a comprehensive approach, examining everything from purchasing trends and life cycle expectations to the effect on total cost of ownership. This is a must-have report for fleet managers, equipment dealers and finance experts, as well as OEMs.”
“AEMP is committed to empowering the heavy equipment industry with data and intelligence that helps simplify the equipment management cycle,” explained Stan Orr, CAE, President and CSO for AEMP. “This report helps create consensus on current adoption and management trends around Tier 4 equipment and its life cycle.”
EquipmentWatch and AEMP have made this report available for free download at http://intel.equipmentwatch.com/2016-tier-4-benchmark-report/.
