Equipment rental services have suffered through a tough time the past few years as the construction industry felt the effects of a burst bubble in the housing market. Equipment rental actual saw larger declines than the contractors themselves, as contractors still had small project options, whereas the heavy equipment for larger construction projects, sat idle.
Just as the lackluster financial earnings of equipment rental was a symptom of a negative economy in years passed, the bright outlook on equipment sales and rentals is a harbinger for coming economic growth within the construction industry that is up-and-coming.
If these early numbers are any indicator of how the future will play out, 2013 promises to be an exciting and profitable year for the construction industry.
One difference between the emerging construction market and the market of yester-year is that this new market involves more industrial, commercial, and infrastructure projects, as opposed to the new home building and residential expansion that was seen in the 1990s. While these types of construction projects are not rolling-in on a scale that can put all of the construction workers back to work that have been without a job for the past few years, at least it is a sign of a turning tide.