If you want to see an industry that is really growing, you don’t have to look any further than the construction industry. There are projects going up left and right in communities big and small all around the nation.
Workers from the east coast to the west are finding steady work in the construction industry. In fact, there are over 7 million men and women employed in the industry and that is growing all the time.
There is so much more to the construction industry than the men and women who labor on the site. The industry relies heavily on equipment that is needed to do the jobs that need to be done. From a soft dig machine to different types of aerial lifts, equipment rental for construction projects is an industry unto itself in many ways. It was estimated in 2015 that the global construction equipment market was sized at somewhere around $145.5 billion dollars.
To rent construction equipment, a construction company needs to know what kinds of equipment will be needed to complete the task at hand. When it comes to sales of light construction equipment, many companies have chosen to go that route and purchase the equipment they are going to need. Light construction equipment has seen a rise in sales by 11.2% in recent years, but when it comes to bigger jobs, construction companies find it much more desirable to rent construction equipment.
When you rent construction equipment, you are paying for the time you need that piece of equipment. You might need scissor lift on one part of the project and an electric boom lift on something else. It rarely makes sense for a construction company to purchase major pieces of machinery that they will only use for a short period of time on a construction job.
You can rent construction equipment for a couple of days or even for as long as the duration of the entire project and still come out well ahead in the end. Storage and the maintenance alone of large construction equipment pieces make the idea of purchasing equipment less desirable than renting.
Another aspect of construction equipment rental is the fact that it is a job by job kind of planning. This simply means that a construction company could have a project in one location where they need certain pieces of equipment. Then, when that project is completed and they are ready to move along to the next job site, they might need another set of pieces or machines.
If they are able to rent construction equipment, they can budget for each job based on only the equipment they need. They rental company can fill the order and set up for the transportation of the equipment to the job sites. They storage and maintenance of the equipment doesn;t have to go into the job budget. Just the amount of the rentals themselves.
One of the other benefits that come with renting construction equipment is the training that many companies offer their clients. Safety is always a concern on a construction site. No construction crew wants to be out on a site where they don’t feel safe. There is nothing that brings a project to a screeching halt faster than an accident that is caused by a worker who has been operating a piece of machinery in a manner which is not safe.
Having that extra training and having the confidence to operate the rented machinery in the appropriate manner can save more than just time and money, it can save lives. Operator training can prepare individuals to be able to understand the hazards that are involved in operating certain types of equipment. Many equipment rental companies will spend the time to give hands-on training to everyone who will be operating the machines and equipment, no matter how long they will be doing it. From loaders to forklifts, keeping workers informed is a huge step in the direction of keeping workers safe.
The construction industry is growing every year. Projects are going up all the time, our infrastructure is in need of serious redoing. Rental equipment is the way to go.