Rental Rates Increased in Fourth Quarter, EquipmentWatch Says
Fourth quarter retail rental rates increased across the board compared to the third quarter, according to a study of more than 100 rental companies covering more than 100 equipment subtypes carried out by EquipmentWatch. According to the study, which collected more than 41,000 rates, monthly rates for crawler-mounted hydraulic excavators jumped 13.39 percent in the quarter compared to the third quarter, and electric self-propelled scissorlifts increased 10.05 percent. Single-drum vibratory compactors posted a 6.04 percent hike in monthly rates.
Crawler-mounted hydraulic excavators also posted the largest increases in the weekly and daily categories, at 13.82 percent and 15.08 percent respectively.
Rates also increased for standard crawler dozers, 4-wheel-drive articulated wheel loaders, rough terrain telehandlers, compact track loaders, crawler-mounted compact excavators, and pneumatic-tire lift trucks. Skid-steer loaders was the only category where rates declined from the third quarter to the fourth, according to the study.
The study also noted that the top five medium- to large-sized equipment subtypes showed more volatility than the smaller subtypes. Rough terrain telehandlers had the largest rate increase over the past three quarters, while several types of equipment, including crawler-mounted hydraulic excavators, single-drum vibratory compactors, and standard crawler dozers declined in the third quarter only to rise again in the fourth.
The sharpest increases were in Alaska, followed by a group consisting of Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota. The sharpest declines occurred in eastern Canada.
To read the entire report, click here: http://images.link.penton3.com/Web/PentonEquipmentWatch/%7B6c8139c7-7f74-47d6-8aba-c6d2d11e0af2%7D_EQW_Rental_Report_2015-Q4.pdf?utm_rid=CPEQW000000039321&utm_campaign=6816&utm_medium=email&elq2=752b2b31deaf45d79285441a69b8cf8e
