Construction workers. Photo courtesy of carlsonmeissner.com
When it comes to media reports about the state of the U.S. economy, one thing is for certain: You can expect a different report tomorrow. One industry, however, that has shown some signs of consistency over the past several months is the construction industry. New developments and construction projects across the country have not only led to new jobs but also to growth in related sectors including the rental equipment industry. A growth that is expected to continue throughout the rest of the calendar year.
According to a recent article in MarketWatch, construction equipment dealers expect the rental segment of the industry to grow by about 12 percent in 2014. Despite a slow first quarter, there has been positive movement so far in the second quarter. In a survey of construction equipment dealers conducted by GE Capital, 95 percent of respondents plan to buy equipment for their rental fleets this year as contractors and construction companies “continue to be reluctant to commit to large purchases.”
Additionally, 76 percent of those surveyed expect equipment utilization to grow and 68 percent said the size of their rental fleets grew in the first quarter versus the prior year. In all, 50 dealers from across the U.S. were surveyed in the months of March and April by GE Capital.
Heavy Equipment Rentals from BlueLine Rental
Is your company in need of heavy equipment for a major project this spring? Visit Rent It Today, the most comprehensive rental resource online, to view a list of providers of rental construction equipment such as dozers, crawlers, loaders, and backhoes.
