Contractors and construction companies of all sizes can only take advantage of opportunities if they have access to the right equipment at the right time. The costs associated with owning equipment mean it might not always feasible for a construction company to have all the equipment it needs immediately on hand.
Fortunately, construction equipment rental solutions — such as those offered by The Cat® Rental Store — provide convenience, selection and reliability that can benefit construction companies when new projects and profit margins are on the line. Read on to discover the truth about the rising trend of renting construction equipment and why working with Caterpillar to access the equipment you need is such an ideal formula.
Even just a couple of decades ago, the large majority of construction companies — from home builders to demolition crews — owned almost all of the equipment they used. But with the rise of technology, the Internet of Things and the changing demands on the construction industry since the recession, many contractors have found that renting equipment from a trusted source like The Cat Rental Store gives them a newfound versatility when it comes to which jobs they can accept and bid on.
According to Construction Today Magazine and statistics from the American Rental Association, the use of rental equipment in the construction industry has steadily risen over the course of the past decade and a half — from 42% in 2003 to over 54% today. That 12% rise represents more than an increase in construction rental offers. It’s also in large part due to the overall reliability that a world-class brand like Caterpillar brings to the rental market.
Of course, there are many reasons that working with The Cat Rental Store to access the equipment you need makes sense. With well over 1,300 locations nationally and internationally, we looked carefully at some of the most popular advantages that renting construction equipment offers our customers. Subsequently, we put together the following list of factors to consider when you need fast access to high-quality equipment: