When undertaking large construction projects, having the right equipment is essential but owning all the necessary tools can be costly. Purchasing heavy machinery like bulldozers, excavators, cranes, trucks and other equipment requires a sizable capital investment that sites only getting smaller with equipment depreciation over time. For contractors and construction companies, especially those just starting out or working on short-term projects, renting equipment makes more financial sense than buying.
Construction Equipment Rental on an as-needed basis avoids the expense of ownership. Fixed costs like depreciation, interest on loans, insurance and maintenance are replaced with a rental fee only when the equipment is in use. This allows businesses to access a wider range of machinery for a project without being saddled with the costs of equipment sitting idle after the job is complete. Renting also eliminates worries over reselling used equipment after a project ends.
The flexibility of rentals is ideal for managing changing site demands or unexpected challenges that require different tools. Rather than being limited to owned assets, contractors have access to a rental company's entire inventory to smoothly adapt to situations. Equipment can be swapped out quickly as projects progress through different phases with varying equipment needs. This helps minimize delays from being without necessary tools.
A Wide Selection of Machinery
Equipment rental companies maintain extensive inventories covering all types of construction equipment rental to suit any job scope or site conditions. Common choices include:
- Earthmoving Equipment: Bulldozers, excavators, backhoes, loaders and other machines for digging, grading, excavating and material handling.
- Lifting Equipment: Cranes, boom lifts, scissor lifts and forklifts for moving heavy items and performing tasks overhead or at height.
- Compaction Equipment: Rollers, plates and rammers for compacting soils, aggregates and asphalt in areas like roads, slabs and foundations.
- Material Handling Equipment: Dump trucks, haul trucks andtrailers for transporting excavated materials, aggregate deliveries and waste removal.
- Concrete Equipment: Concrete pumps, mixers, buggies, finishers and other tools for casting, moving, placing and finishing concrete structures.
- Aerial Equipment: Boom lifts, scissor lifts, aerial work platforms and telehandlers for overhead access, inspection and maintenance tasks.
- Temporary Power: Generators for supplying temporary electricity to sites lacking permanent power access.
- Temporary Works: Shoring equipment, formwork, scaffolding and safety equipment.
- Tools and Attachments: Specialty tools include rockbreakers, thumbs, hammers and blades suited for material types like solid rock, timber and masonry. Quick attachment systems allow fast swapping of tools to suit changing job needs.
Maintenance and Support Services
Beyond equipment access, renting also provides maintenance and support services contractors rely on to keep projects running smoothly. Rental companies perform scheduled servicing, repairs and inspections to keep equipment in top operating condition to minimize unexpected downtime. Fully-serviced units arrive on-site ready to work with the contractor focused on operations rather than equipment upkeep.
Rental fleets are also locally supported through regional service branches. On-site technical assistance helps with set-up, operation orientation and repairs. Equipment issues can be quickly resolved to minimize project delays. 24/7 breakdown support guards against work stoppages outside regular business hours.
Budgeting and Cost Control
By renting, contractors gain predictability in equipment expenses. Rental costs are budgeted by unit, day or job rather than bulk purchasing decisions. Fixed rental rates make expenses consistent and easy to estimate for projects.
Additional savings come from rental companies' scale discounts on fuel, parts and maintenance costs passed onto customers. Resources that would be prohibitively expensive for individual contractors are bundled into competitive full-service rental packages. Some companies even offer cost-plus contracts protecting clients from unknown overruns.
Flexible rental terms also provide cost control. Short-term or "rent to own" options during seasonal peaks avoid expensive idle equipment costs compared to long-term ownership. Extended rental periods are discounted against ownership costs. Equipment can be returned or replaced without long-term commitments as project needs change.
Construction equipment rentals empower contractors and builders to have the right tools for any job without capital outlays or maintenance overheads of ownership. Flexible, cost-effective access to full-service, heavy machinery fleets ensures projects stay on time and on budget.
Get more insights on Construction Equipment Rental
Analysis of the Global Construction Equipment Rental MarketA new study published by Fact.MR on the global Mobile Construction Cranes market includes a global analysis and opportunity assessment for the period 2019-2029.
The report offers a comprehensive assessment of the key market dynamics in detail.
The analysts take into account the historic as well as the current growth parameters to project the growth of the Construction Equipment Rental market with maximum accuracy.The high cost of procuring next generation construction equipment with features such as lift assist, predictive maintenance systems, and 360 vision cameras, heighten the demand for rental services.
The global construction equipment rental market will grow 1.6X during the forecast period (2019-2029).
The report provides a Y-o-Y growth trend analysis and the current and future market volume projections (Units) for the assessment period.
The impact of the novel COVID-19 pandemic on the Construction Equipment Rental market is assessed in the report along with valuable insights pertaining to how market participants are adapting to the current situation.Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=4643In a bid to recognize the growth prospects in the Construction Equipment Rental market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market.
