How the LGMG Relaunch Affects Equipment Rental Companies

Q. How will the relaunch of LGMG affect equipment rental companies?  

Craig PaylorLGMG North AmericaThe main position we’re taking with rental companies is: when they rebound, when they see the market come back, and they decide to begin purchasing and replacing machines, they're going to be looking for delivery. There's a large inventory of machines now, but historically, when demand was high, prices increased with that demand. Rental companies today are stretched trying to hit profitability. What they don’t want is to come back to the market and see new prices from everyone. We’re not in it to break even. We want to make money too, but we also realize we’re not going to be priced at the top like legacy brands. We know we have a good product, and we think the timing is right to show our product, offer the best price we can, and be a reasonable choice. It’s not all about brand anymore. It’s about having the right product at the right price to survive in a competitive market. 

Q. What might be that "one thing" equipment rental businesses can do to keep 2025 successful?  

Everyone’s holding their breath. It’s murky, but it’s always murky before a rebound. From my experience, 2026 will be a great year. So the ones that succeed will be those expanding their fleets in late Q3, Q4 of 2025. Get your machine forecast right, place orders, decide what to get rid of, what to add, and size your team accordingly. It’s a risk, but the companies that prepare now will be the ones that win when the calendar turns. 

Q. Why are you confident about a rebound in 2026? 

Fleets can only delay replacements for so long. The longer you wait, the more pressure on your service department. You lose customers when your old machines are down more often. Mechanic ratios used to be 1 per 100 machines; now it's more like 1 per 500–700. There aren’t enough techs to keep aging fleets going. You need new equipment. That’s why I’m confident 2026 is the turning point. 

Q. Hiring and keeping employees has been a struggle in both the construction and the rental industries for years. What do you think contractors and equipment rental businesses do to find more people/get ahead of the challenge?  

Communication is a lost art. You can find people with technical skills, but can they hold a real conversation? So much time is spent on screens now. I’ve told people: if someone walks into your office and can talk for 20 minutes, hire them. Sales and service aren’t just about knowledge. They're about relationships. That’s what’s missing today. 

Q. 15 years ago, you spoke to Rental about potential threats to the aerial industry. The world is vastly different in 2025/2026. What are some strengths and threats facing the lift and rental equipment industry today?  

The competition has gone global. Back in the day, 90% of the business was JLG, Genie, Skyjack. That’s not sustainable. More players are coming. I thought Chinese manufacturers would enter with government-backed finance, that didn’t really happen, but the competition still came. As policies change, manufacturing moves to Mexico and the U.S., you have to adapt. The winner will be the one who listens to rental companies and does right by them. 

Q. What is a lesson learned from your time as a leader?  

You can’t promise what you can’t deliver. And you can’t work for a company that does. Your integrity is everything. I've had success selling not just because of pricing, but because when things went wrong, I fought for the customer. If I’m remembered for anything, I’d want it to be that: 'He helped take care of me.' That’s what matters. 

Q. You've been in the industry for nearly 5 decades. What advice would you tell your younger self?  

Calm down. 

Don’t rush so fast to succeed. Outworking everyone is important, and I believe in it, but know what it will cost you. Be sure that success is really what you want. I still do this because it’s what I do best, but it has a price. You need to evaluate that honestly.