The American Rental Association(ARA) released a public statement detailing its economic outlook for the Rental Equipment Market and stating that they estimate the market will be about $41.1 billion by the end of 2014. With Heavy Equipment making up about 52% of all equipment rentals in 2013 it is expected that their will be a $21.3 billion market for Heavy Equipment. This is a significant increase from the outlook from last year in which the market was about $19 billion. This is due mainly to many construction companies cutting back on their costs and looking for cheaper alternatives to buy new heavy machinery.
Based on these reports we can also expect a very positive outlook for the Used Heavy Equipment industry because as budgets are reduced many project managers will be looking for low cost equipment and economic pricing for parts to maintain/expand their fleets. For the dealers that can adjust to this movement in the market their will be significant opportunities in 2014 to expand their market shares and grow their business.
Please feel free to contact us at http://sigmaequipmentco.com/contactt.htm with any question or concerns about the Used Heavy Equipment Industry. Also, if you’d like to discuss the possible impact that these developments will make in the Heavy Equipment industry just leave your comments below, we’d love to heard your thoughts.
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