Why the Rental Economy is About to Boom
With 2019 in full swing, the business landscape has gone through numerous changes that are having drastic impacts on the economy. Currently, we are experiencing an economic downturn with large unbalanced growth. GDP growth has slowed in the United States and Canada, with companies tightening their budget belts to weather through this uncertainty.
Yet for heavy equipment rental companies, the downturn is good news. With companies seeking to protect their investments, industries that rely on heavy equipment in their operations are turning toward more cost-effective methods to get the work completed. This has led to more heavy equipment rentals instead of purchases, as the cost of purchasing machines outright are high and there are also additional costs to cover storage, maintenance and machine parts. (more…)
