Of the cohort of contractors who rented equipment in the past year, the majority expect to increase reliance on rentals in the year ahead, according to the Rental Customer Needs Study, conducted by RSG on behalf of the American Rental Association (ARA).
According to the survey, 93% of contractors surveyed rented equipment in the past year. Of that group, 92% planned to rent as least as much as last year and 52% expected to increase rental activity in the next year. Contractors who expect to rent more in the next year indicated they are likely to do so because they plan to use what they currently rent more frequently or they plan to take on more quick-turnaround projects. The survey found mini excavators, dump trucks, backhoes, and lifts and scaffolding were the most popular rental items for contractors.
Nearly half of the surveyed contractors indicated they rented because it made more financial sense than buying equipment. More than 40% of contractors said they rented because they needed equipment for immediate use and did not want to purchase and needed to use the equipment infrequently or only for a short period of time.
Data for the Rental Customer Needs Study came from survey responses of residential building, specialty, non-residential, landscape, utility, road and highway, and site development contractors. Based in Moline, Ill., the ARA is an international trade association for owners of equipment and event rental businesses, and manufacturers and suppliers of rental equipment.
