The State of the Construction Equipment EconomyThe State of the Construction Equipment Economy
In an interview with Bill Palmer, Tom Christerson, director of sales for EquipmentWatch, discusses research into the internal and external factors affecting construction equipment economics.
During World of Concrete, WOC 360 editor Bill Palmer chatted with Tom Christerson, director of sales for EquipmentWatch, a data business helping construction companies make smart decisions about equipment, understand the value of their equipment, and weigh their options for renting versus owning.
Christerson offered insights from a recent white paper, conducted in partnership with the Association of Equipment Management Professionals. Compiled with a million datapoints from 400 survey respondents, the research examined the micro- and macro-level impact of today’s climate on equipment owners.
A number of factors are throwing a wrench into equipment planning, Christerson said, from thin margins to supply chain volatility. Secondary market and rental rates are up, contractors are holding onto equipment longer, and while 90% of respondents said they plan to purchase in the next 12 months, half are already reporting delays.
"Data gives us a competitive edge," he said, and emphasized the ever-growing importance of weighing data and analytics when making renting and ownership decisions rather than relying solely on intuition.
Watch the video above to see the full interview, with more datapoints and equipment economic trends, with Tom Christerson.