Caterpillar has a long and varied history. It's the brainchild of two engineers — Benjamin Holt, who invented the first combined harvester in 1886, and C.L. Best. Holt registered the Caterpiller name as his trademark in 1910, and in 1925, Holt Manufacturing and C.L. Best Tractors joined forces to become the Caterpillar Tractor Co.
In the mid-1990s, the brand branched out into another direction — rentals. Let's take a closer look at the history of The Cat® Rental Store and where the timeline might go in the future.
Caterpillar has always been one of the most well-known brands when it comes to heavy equipment. In the 1990s, it saw a new opportunity — expanding its operation to appeal to smaller general contractors, taking hold of a previously untapped sector of the market. This shift focused on contractors that used compact machines for things like excavating and landscaping as well as small-scale construction and utility jobs.
Suddenly, these contractors were able to get their hands on compact wheel loaders, mini hydraulic excavators and everything in between, meeting an unrealized need. The Cat Rental Store opened it's doors in 1996, with the goal of making its heavy equipment accessible for general contractors, a demographic that prefers to rent heavy equipment rather than buying it.
During the very next year, The Cat Rental Store announced its aim to grow sales by nearly double, from $19.7 billion to $30 billion over the next 10 years.
By 2000, the brand had expanded globally, opening new rental locations in both Australia and New Zealand.
In 2007, The Cat Rental Store had expanded its reach with the Allied Vendor Program, allying itself with 69 different vendors and brands across North and South America.
2020 has been a fantastic year for The Cat Rental Store. Currently, it has more than 1,300 locations worldwide. The equipment rental market is worth $90 billion, with consumers looking for more cost-effective ways to reduce risks while operating fleets and managing their businesses.
The Cat Rental Store Promise is founded on leveraging brand expertise, technology, and global and regional resources, working to offer the widest selection of rental equipment from more than 70 brands. It customizes solutions and contracts to each company's needs and is not afraid to go above and beyond to provide customers with whatever they need.
The global construction equipment rental market is increasing exponentially. It's expected to be worth $135 billion by 2027. The Cat Rental Store is working to expand its global presence and set itself apart from other equipment rental businesses around the world.
Whatever your needs, The Cat Rental Store's goal is to serve customers. Rent whatever you need from the people who do whatever it takes.Find The Cat Rental Store Near You