Revolutionary Growth Observed within the Construction Machinery Rental Markets

Reports that have been released about the Global Construction Machinery Rental early this year indicated that the industry is growing at a significant rate and with most construction companies and manufacturers alike jumping into the bandwagon the industry is expected to grow faster than market observers had anticipated.

The latest market report indicates that the entire global Construction Equipment Rental spectrum is looking positive currently and will continue to remain that way for the next 5 years.

The entire business model that is based on providing various types of equipment or machinery on rental such as construction excavators for hire offer construction companies a solution to keep project costs low and also ease logistical requirements.

The report also presented a set of challenges faced by the rental industry which according to Collin Turner an industry observer could mean the difference between success and failure for the industry players.  

The first challenge according to turner is the duration of these long-standing projects. Equipment such as excavators that are given on hire by the rental companies at intervals for the duration of the project are often met with logistic issues.

The project deliverables, the planning of equipment reservations and schedules are crucial to ensure that the right equipment is delivered at the right time for the right purpose for projects. Respective budgets and timelines must be documented meticulously and include all pre-construction activities, such as clearing the land and demolishing existing structures to the project closure with the final changes.

Most of these rental companies are still hitched on manual management and it is time for them to switch to new management techniques and introduce software solution that are capable of managing complex projects for extended periods of time.

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Other challenges include the use of legacy systems that are not suitable to current scenarios that result in late deliveries or wrong deliveries that cause delays. It is critical for these companies to deliver the right construction rental equipment at the right time to project coordinators simply based on the fact that all construction projects are bound by tight timelines.

There are incidences where rental companies send construction equipment before the requested time which is not advised as the presence of such machinery at project sites before scheduled use actually hinders work.

Another factor that has been observed is equipment breakdowns owed to poor maintenance and such incidences result in unnecessary delays even when ‘on-site’ maintenance is offered by these rental companies as when under maintenance these machines cannot be used.

Rental companies must try to avoid machine breakdowns during rental periods at all costs and ensure that all machines given out for hire are in tip-top condition. The latest models of excavators for instance are equipped with sensors that alert fleet managers when maintenance is due, having such machines would be beneficial to equipment rental companies.

In summary, it is important for rental companies to see projects that they cater for as their own project and not just as a supplier for a third party.

Given the fact that most construction projects are long term, it is crucial for rental companies to keep clients happy throughout the duration of the project.

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