Construction owners are buying new equipment over used. In a new heavy equipment whitepaper released by Purchasing.com, survey results revealed that there was a 31% increase in requests for new equipment from 2011 to 2012; likewise, there was a 5% decrease in requests for used equipment in 2013 to 2014.
The whitepaper, “Tech Innovations Drive Increases in Heavy Equipment Leases and Rentals”, suggests that the shift in condition of equipment is a result of three things:
- Tier IV engine regulations
- New technologies
- More flexible financial options
The report builds on findings from two time periods: January 2011 to August 2012 and January 2013 to August 2014. Respondents (business owners, managers and procurement professionals) were asked whether they prefer a new or used machine and their financial preference. After analyzing more than 71,000 inquiries, the whitepaper shares many interesting conclusions relating to earth moving equipment:
- Buyers searching for earth moving equipment are favoring ownership over leasing
- Buyers are more concerned with technology that results in better efficiency than cost
- Increase in requests for earth moving machinery including skid steer loaders (up 5.3%) and excavators (up 2.1%) between the survey time period
For more insight on earth moving machinery trends and predictions for 2015, read the complete whitepaper: Tech Innovations Drive Increases in Heavy Equipment Leases and Rentals
Purchasing.com connects buyers with pre-screened, qualified sellers for construction and industrial equipment. With a team who’s history is built around helping procurement officers and SMB owners make smart buying decisions, Purchasing.com has positioned itself as an essential resource and first stop in the B2B purchasing process.