Welcome to EquipmentWatch’s inaugural State of the Construction Equipment Economy report. This landmark piece of research will become an annual publication, allowing equipment owners to take the temperature of their peers and the marketplace at large. For over 60 years EquipmentWatch has been the industry’s unbiased source for equipment & operating costs and disposition decisions, and we are confident this latest publication will become a key market intelligence source ongoing.
Reflecting on the findings in this first year’s report, it feels as though we are at a pivotal point for the practice of construction equipment management: Equipment as a percent of project cost is rising: Almost half of respondents cited this figure as in excess of 20%. Construction projects are becoming more equipment-intensive, a trend that will surely continue driven by the growth in warehousing starts and the likely impact of the infrastructure bill. Yet the biggest challenge for our survey respondents is aligning equipment goals with pre-construction and operational goals. The need to close this loop is behind the increasing trend towards technology deployment and integrated workflows. Leadership within contractor businesses will continue to demand a more holistic data driven approach, ensuring that hard won projects do not leak cost and margin.
In summary, equipment management in the future is likely to be greener, cleaner and more data driven. EquipmentWatch is dedicated to helping you navigate the key decisions around owning and operating construction assets, and we hope that you find the research valuable.