Two Locations

Knoxville

865-982-6452

Tri-Cities

423-975-9111

Operating Hours

Parts & Service

M-F 7am - 5pm

Sales & Rentals

M-F 8am - 5pm

Contact Us

865-982-6452

Sales: Blake Wilson

Parts/Service: Terry Nichols

Construction Industry Trends
April 1, 2025

The 2025 Construction Industry: A Golden Opportunity to Build a Career

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Emily Bieger

Can you name a US industry that pays extremely well and is looking to hire nearly half a MILLION new employees? In 2025, the U.S. construction industry is poised for an unprecedented boom, creating a wealth of opportunities for those seeking a rewarding career path. With a projected need for 439,000 new workers, the industry is ripe for potential job seekers looking to build a stable and lucrative future career or advance from the ground up.

What We Found:

  • With increased growth, the construction industry is in immediate need for workers, and the benefits are many
  • Construction wages are outpacing many other job sectors
  • Those aspiring to leadership roles are finding their career paths expedited
  • A rewarding and impactful construction career could be easier to achieve than you think

Why Choose Construction in 2025?

High Demand Equals Job Security – The construction sector’s urgent need for workers translates to excellent job security. With an aging workforce and a shortage of skilled labor, your expertise will be highly valued, ensuring long-term employment prospects and excellent compensation.

Competitive Wages and Benefits – As the industry grapples with the labor shortage, wages are on the rise. Average hourly earnings in construction have increased by 4.4% over the past year, outpacing many other sectors. This trend is likely to continue, making construction a financially attractive career choice.

Diverse Career Paths – The construction industry offers a wide array of career options. From traditional trades like carpentry and plumbing to emerging roles in green construction and technology integration, there’s a path for every interest and skill set, from backhoe operators to data analysists.

Opportunity for Rapid Advancement – With many experienced workers nearing retirement, there’s ample room for quick career progression in the construction industry. Young professionals entering the field now could find themselves in leadership positions much faster than in other industries. With great responsibility comes great compensation, as well as the opportunity to mentor under some of the finest minds in the industry.

The Green Revolution in Construction – One of the most exciting developments in construction is the surge in green and renewable energy projects. This shift has created a new category of high-paying jobs that combines traditional construction skills with cutting-edge environmental technology. Even CMI-Case construction equipment is benefitting from advances in technology to be more durable, efficient and environmentally conscious than ever before, whether EV or ICE, and mechanics and engineers are always needed to maintain their ever advancing features under heavy usage. A clean running machine is an efficient machine.

Top Green Construction Jobs for 2025:

For those interested in Green Construction jobs, these are four industry trades that are projected to see increased need and growth in the next 8 years:

  1. Solar PV Installers: Projected 48% growth with 12,000 new jobs by 2033
  2. Electricians: 11% growth with 84,300 new jobs by 2033
  3. Construction Laborers: 7% growth with 119,400 new jobs by 2033
  4. Plumbers: 6% growth with 26,300 new jobs by 2033

Embracing Technology and Innovation – The construction industry is rapidly adopting new technologies, from drones and robotics to Building Information Modeling (BIM). This tech revolution is creating exciting opportunities for those with digital skills, making the field broader and appealing to tech-savvy individuals.

Industry Efforts to Welcome New Talent – Recognizing the need for fresh talent, the construction industry is actively engaged to make careers more appealing and accessible:

  • Increased focus on reaching a broader pool of candidates
  • Partnerships with trade schools and community colleges
  • Development of apprenticeship programs
  • Improved working conditions and safety measures
  • Investment in upskilling and continuous learning opportunities

The construction industry in 2025 presents a unique opportunity for career growth, financial stability and personal development. With high demand, competitive wages, and a diverse range of career paths, now is the perfect time to consider a future in construction. And it doesn’t have to start after getting a 4-year college degree. Whether you’re a recent graduate, looking for a career change, or simply seeking a field with ample opportunities, the construction industry of 2025 welcomes you to not just build structures, but a rewarding and impactful career and life.

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CASE Historial Excavator
Construction Industry Trends
March 1, 2025

Do You Know the Historic Evolutions of CASE Construction Equipment?

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Emily Bieger

CASE Construction Equipment’s history dates to before the American Civil War, with a legacy of innovation and excellence.

A brand synonymous with innovation and excellence in the construction industry, CASE has a rich history spanning over 175 years. Founded by Jerome Increase Case in 1842 as the Racine Threshing Machine Works in Racine, Wisconsin, the company has evolved from producing threshing machines to becoming a global leader in heavy construction equipment.

Key Highlights:

  • Founding and Early Innovations: CASE Construction Equipment’s early innovations included the production of threshing machines and, in 1869, the first portable steam engine, which played a crucial role in early road construction.
  • Expansion into Construction Equipment: By the mid-20th century, CASE expanded significantly into construction equipment.
  • Strategic Acquisitions and Mergers: Throughout the 1970s and 1980s, CASE made strategic acquisitions, and merged with New Holland to form CNH Global, which later became CNH Industrial in 2013.
  • Recent Innovations and Future Outlook: CASE has continued to innovate with the launch of electric equipment and is focused on meeting industry demands through investments in technology.

Early Years: Threshing Machines and Steam Engines

In its early years, CASE focused on manufacturing threshing machines, which revolutionized wheat harvesting by increasing efficiency tenfold compared to manual methods. The company’s foray into steam engines began in 1869 with the production of its first portable steam engine, a milestone that marked the beginning of its involvement in road construction. This steam engine, now housed at the Smithsonian Institution, symbolizes CASE’s pioneering spirit in mechanical innovation.

Expansion into Construction Equipment

The dawn of the 20th century saw CASE expand its product line into construction equipment. A pivotal moment came in 1957 with the introduction of the CASE Model 320, the first factory-integrated tractor loader backhoe. This innovation cemented CASE’s position in the construction machinery sector. Over the years, the company continued to diversify its offerings, entering the excavator market in 1967 and skid steer loader production in 1969.

Strategic Acquisitions and Mergers

Throughout the 1970s and 1980s, CASE made strategic acquisitions to bolster its portfolio. Notable acquisitions include Poclain excavators in 1977 and Drott Manufacturing Company in 1968, which expanded its presence in the wheeled excavator market. In 1999, CASE merged with New Holland to form CNH Global, which later became CNH Industrial in 2013.

Recent Innovations

Construction Industry's first electric backhoe loader.

In recent years, CASE has continued to innovate and expand its product line offerings. The company has made significant strides in electric equipment, launching the 580EV, the industry’s first electric backhoe loader, which has garnered significant interest and enthusiasm from the industry. Additionally, CASE has introduced new models like the TL 100 mini track loader and several small articulated loader models, further diversifying its product lineup.

Current And Future Outlook

Today, CASE Construction Equipment is part of CNH Industrial and operates as a leading manufacturer of construction machinery, including excavators, motor graders, wheel loaders, and skid steers. The company is focused on meeting industry demands through investments in manufacturing and technology. Trends shaping CASE’s strategy include the adoption of machine control technology, digital connectivity, and alternative power sources like electric equipment.

In 2025, CASE is poised to continue its legacy of innovation, with a focus on electric and digitally connected solutions. The company’s commitment to exceeding customer expectations and needs and to furthering technological advancements position it well for future growth and leadership in the construction equipment sector. You can count on Contractor’s Machinery to bring you all the latest equipment and insights from our partners at CASE.

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The growing need for compact equipment in urban construction
Construction Industry Trends
February 1, 2025

The Growing Need for Compact Equipment in Urban Construction

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Emily Bieger

As the need for residential and commercial space continues to grow, urban construction has become much more common. The unique confines of an urban landscape present construction challenges for the size and type of equipment that can be used to build in the urban environment. As new compact construction technology continues to develop and mature, it’s important for contractors to understand why they need to consider acquiring quality compact machinery. Below is a list of reasons why compact equipment better fits growing city and startup project construction sites.

Compliance with Urban Regulations

Regulations regarding the types of equipment contractors are allowed to use in certain areas have grown. With laws limiting noise, emissions and even weights of construction equipment in crowded areas, a growing need has presented itself for smaller equipment that can handle the same workload as their larger counterparts. Machinery like Case Compact Track Loaders and Compact Dozer Loaders help exceed site needs while meeting these more stringent regulations. Simultaneously, they set the bar as top-of-the-line compact equipment that performs above its weight class.

Navigating Tight Spaces

Urban construction’s most difficult challenges include navigating narrow streets, crowded neighborhoods and working with limited staging areas. Compact equipment excels in these environments. Mini excavators and other compact equipment can efficiently dig and grade in areas where larger machines struggle to fit or get turned around. The Case TR340B Compact Track Loader offers a smaller overall footprint, allowing operators to maneuver through tight spaces without sacrificing performance.

Versatility of Compact Machinery

Compact equipment often offers a useability and versatility that larger, clunkier equipment can’t match. With compact machinery’s ability to easily interchange attachments such as grapples, buckets and augers, the need to bring in specific pieces of large machinery can be, to some extent, limited, if needed at all. Adding versatile compact machinery to your fleet of construction equipment can help streamline urban construction jobs while saving time and money from deploying your big gun/high dollar machinery.

Improved Transport and Storage

The convenience of compact machinery in urban construction becomes quite evident when it’s time to transport your equipment. Deploying heavy equipment in urban areas through urban traffic can be challenging and time-consuming. And time is money. Compact machines are easier to load, transport and properly store, making them more practical and economical for city projects. 

Cost Effectiveness

Smaller machinery usually comes with smaller upfront purchasing costs, reduced maintenance and lower fuel costs compared to large machinery. For contractors working on startup projects with limited budgets and for those developing smaller urban infrastructure, compact machinery is ideal. There is no need to take up space and spend extra cash on large machinery that can only be used for specific jobs if smaller equipment can get the job done. Do be aware however, that costs can escalate pretty quickly when you start adding on all the attachments you may need for certain jobs. Keep this in mind when building your small equipment fleet.

In conclusion, the following is still true: Size matters. If you are finding cost issues and inconveniences in deploying your large equipment in the ever-growing and developing urban landscape, it may be time to consider some smaller-sized equipment options that are still tough enough to get the heavy jobs done but be easier to operate on the job site. Consult with your CMI Case representative to find the right sized equipment options and attachments for your construction fleet.

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Keep heavy equipment operating efficiently in winter months
Equipment Maintenance
January 20, 2025

Keeping Heavy Machinery Operating Efficiently in Winter Months

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Emily Bieger

As temperatures drop and winter weather approaches, heavy construction equipment works harder. Cold weather can affect machinery performance, reduce efficiency, and increase the risk of breakdowns. At CMI Case, we understand the importance of keeping equipment in top working condition year-round. With that in mind, here are some essential tips to keep your heavy construction equipment operating optimally to keep your projects on track during the colder months.

Inspect and Maintain Your Equipment

Regular equipment inspections are key to preventing costly repairs and untimely breakdowns. Check for leaks, wear and damage, especially in hydraulic systems, electrical components, engines and cooling systems. Maintain proper tire pressures and look for cracks or excessive wear on tracks and tires, particularly for excavators and skid steers. These simple steps can save you time and suffering out in the cold of winter.

Switch to Winter Grade Fluids

Cold temperatures cause fluids to thicken and flow more slowly, reducing machinery efficiency and performance. To combat this, it’s essential to switch to winter-grade engine oil, hydraulic fluids and fuel additives, which help prevent diesel fuel from gelling. Diesel engines are particularly vulnerable to cold weather, as water in the fuel system can freeze and cause clogs or damage. To avoid these issues, regularly drain water separators, use anti-gel additives or winter diesel, and keep fuel tanks full to minimize condensation buildup. By taking these steps, you can ensure your equipment operates smoothly and reliably throughout the winter months.

Battery Care

Batteries often lose efficiency in cold temperatures, making it harder to start your equipment and increasing the risk of other electrical related issues. There’s an old saying that batteries get killed in the summer (due to heat) and die in the winter (due to increased load demands they can no longer maintain). To keep your batteries in peak condition during winter, start by cleaning and tightening connections to ensure proper voltage flow. Regularly test the battery charge and replace any weak or failing batteries before they become a problem and leave you stranded. For equipment stored outdoors, consider using battery heaters or maintainers to keep them warm and ready to perform, even in freezing conditions. Proper battery care can make all the difference in keeping your machines running smoothly throughout the winter. 

Store Your Equipment Properly

Making sure your equipment is stored properly will shelter it from the harsh elements of winter. If possible, use covered areas or even indoor storage facilities to protect your machinery from the winter snow, ice, wind and rain. If you are not able to find cover for your equipment it is always smart to use waterproof covers to protect external components. Also, park machinery on solid ground after use to avoid important undercarriage components from freezing.

Preparing Your Crew for the Cold

Along with preparing your heavy machinery for the winter, it’s important to make sure that your most important pieces of equipment are ready for the cold too, and that is your crew! Teaching your crew to quickly recognize and respond to things like weather related equipment stress, emergency breakdowns, and other proper machinery upkeep can ensure that your projects won’t skip a beat despite the challenges cold weather might bring. Most importantly, keep safety in mind, as cold weather and ice can make operating heavy machinery dangerous. Keeping your crew up to date on the newest safety procedures and precautions that need to take should always be the utmost priority!

Always keep the tips and tricks above in mind for cold winter days. It’s also smart to reference machinery manuals for proper manufacturer recommendations and also seek out the wisdom of sales and service professionals on techniques that can be used to best protect your machinery from winter weather. CMI Case has service and sales professionals available Monday through Friday from 8-5pm to answer all your questions about your equipment and how to properly take care of it to avoid costly breakdowns.

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Construction and manufacturing outlook for 2025.
Construction
December 1, 2024

Construction Outlook for 2025

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Contractors Machinery

2025 is looking like an improved environment for the construction and manufacturing sectors, thanks to moderating inflation, lower interest rates and steady growth in the nation’s overall economic activity.

Bernard Yaros, Jr., lead U.S. economist at Oxford Economics said, “We anticipate a federal funds interest rate of 2.75% by the end of 2025, down from the recent 4.75% rate. We also see an average inflation rate of 2.2% in Q4 of 2025, which will be within spitting distance of the Fed’s target of 2.0%.” Corporate profits are projected to wrap up 2024 with a 9.6% increase, and a 9.0% increase for 2025. Both of these are up from the 6.9% gain in 2023.

As Money Gets Cheaper, Construction Rebounds

Housing activity is a big driver for the U.S. economy, and economists are projecting a nationwide upsurge. Yaros says, “We forecast housing starts to increase by 6.2% in 2025, after a 2024 4.7% fall and 8.4% decline in 2023.” Lower mortgage rates and a decline in the cost of money will fuel this growth. Experts cite the fact that those currently holding onto 3%-4% mortgages will see it’s less painful to give them up, sell their current homes, and move up.

Industrial policymaking in America is having a reemergence, thanks to the Inflation Reduction Act, Chips and Science Act and the Infrastructure Investment and Jobs Act. Future prospects are looking quite positive for contractors who are able to participate in major public works, as manufacturers are receiving billions of dollars in subsidies for large-scale infrastructure projects, many in support of technological transformations, like the growth in AI and broadband expansion.

There is a darker side of this, however. For contractors dependent upon multi-family construction, hotels or existing office retrofits, the 2025 outlook is somewhat bleaker, due to high interest rates that have led to high financing costs. Partnered with general inflation, and increased regulatory oversight, certain contractors have become vulnerable to a lack of work and are concerned for the future. 2025 is looking to be a transitional year for them, with 2026 likely better as lower interest rates finally take root.

Employment Levels

Consumer confidence is projected to continue increasing in 2025, and that fuels optimism for the construction industry. Also powering this optimism is healthy employment levels. Economists peg unemployment rates of 3.5%-4.5% as the sweet spot that balances risks of inflationary wage escalation and economic recession. The Q4 2024 rate was at 4.1%. The magnitude of a lack of skilled labor, while still many contractor’s #1 challenge, is abating as hiring has slowed due to a slowing economy and the shrinkage of the number of available unskilled jobs. This reduction in available employment has also given workers less bargaining power, so there is some relief in the trendline of worker wages. That rate has been about 3.7% in 2024, down significantly from the 8-10% levels of the previous two years.

A Crystal Ball for the Road Ahead

Construction companies and their employees are advised to be vigilant in being aware of any changes in the following:

  • Interest Rates – The pace and amounts of cutting will be especially impactful, good or bad, for the construction industry.
  • Inflation – Many business plans could suffer as the consumer price index returns to positive territory.
  • Tariffs – These represent price increases to construction companies who must purchase materials abroad.
  • Geopolitics – It pays to be informed. Turmoil on the world’s stage can (and does) impact supply chains, which can quickly throw a monkey wrench into the economy.

The resilience of the U.S. economy has been remarkable. Economic experts don’t anticipate a recession, as the Fed will be dialing back monetary policy restrictiveness, and they are seeing no glaring economic imbalances.

At Contractor’s Machinery we too will be watching these trends in 2025 and looking forward to strengthening existing partnerships while also building new ones!

CMI December Blog Source Material – https://palletenterprise.com/construction-forecast-2025-a-welcome-economic-rebound/

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How to attract young workers to the construction industry.
Construction Industry Trends
May 1, 2023

Need Young Workers?

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Contractors Machinery

Simply put, the construction business “just ain’t what it used to be!” If the industry is going to appeal to young workers, OEM owners and managers need to successfully recruit workers and appeal to this generation of laborers. (They need to think, “that’s some sexy machinery!”) In addition to the sex appeal factor, managers must also highlight the technological advances and training that are defining the construction industry as the white color profession it is.

This day in construction history is unique to say the least. Record numbers of workers are retiring just at the same time qualified workers are hard to find. The construction business is no longer about whether or not you’re strong enough to carry trusses or swing a sledgehammer. Advances in the industry mean qualified workers are more essential than ever. Job recruiters need to highlight some of these changes to attract the high-tech employees they need.  Let’s take a look at the 2023 world of construction:

Machines are smarter than ever. Every one of the machines available today through Contractor’s Machinery is technologically state-of-the-art. With computer-generated ability that equips the user with precision like never before, Sitewatch telematics keep the operator informed about literally every aspect of the performance of each machine. Applied science has transformed construction and the requirements to be successful in the field of construction.

Although the advances of 3D printing are relatively new to the construction industry, it has the potential to revolutionize construction. Creating 3-dimensional, computer-generated prototypes, contractors are just beginning to explore the enormous benefits of utilizing 3D printing in the industry. 3D printing is allowing companies to cut back on time and resources spent on projects, in addition to creating much more environmentally savvy structures. Some companies, like New Story are even fighting the problem of homelessness by building the world’s first community of 3D homes.

In “selling” the industry to young workers, perhaps the most important characteristic of construction is what has not changed: There is great reward in looking back at something significant and beautiful and being able to say, “I did that.” The most successful employees are those who encompass three qualities:  naturally creative intuition, technical training and formal education, and a solid work ethic that commits to making a difference in the world.

Considering the resources that this current employable generation holds, it has the potential to be one of the most productive generations in history. Presenting the industry’s technological advancements and worldwide impact are keys to making the job look sexy. And sexy is everything in 2023, including heavy equipment!

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Construction
April 10, 2023

A Look Back at CONEXPO 2023

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Contractors Machinery

CONEXPO is North America’s largest construction trade show, and it happens every three years in Las Vegas, NV. The most recent event was March 14-18th and Blake Wilson, VP/General Manager of Contractors Machinery Inc., attended this year’s show. We caught up with Blake and talked all about his experience.

CONEXPO 2023 is in the books from Las Vegas. Reports are the show broke attendance records, with over 139,000 people from over 30 countries. What did you think of this year’s CONEXPO overall?

Wilson: My feet hurt from trying to walk 3.5 million sq/ft of Convention Center. I have attended CONEXPO several times over the last 35 years and my biggest takeaway is that Technology is everywhere in the Construction Equipment Industry. Electric-powered equipment, Artificial Intelligence, Machine Controls, real-time machine maintenance and much more…

CASE Construction Equipment promised “You’ll see the difference” at CONEXPO, as they highlighted ‘The New CASE. What did you see?

Wilson: CASE Construction Equipment division’s biggest difference is a commitment to and investment in its dealer network, manufacturing quality products, as well as committing to being a leader in developing new products and getting them to market. This began with CASE DL550 Minotaur Compact Track Loader/Dozer and continues with their EV Series of Electric Mini-Excavators, Compact Track Utility Loaders and more.

The CASE Booth touted over 30 new machines, attachments and technology. What new products from CASE are you excited about and why?

Wilson: Obviously, the Minotaur is front and center as THE new product…we are expecting delivery of new units within the next 30 days at Contractors Machinery (CMI). Other new products such as mini-wheel loaders, wheeled excavators and the new SV utility backhoe will be additional products that CMI will inventory and provide to our clients

People are excited about the Minotaur DL550 compact dozer loader, what kind of game changer is this for your customers?

CASE Minotaur DL550

Wilson: The Minotaur has been thoroughly tested and creates a completely new product segment in the equipment industry. The ability to have a machine-controlled crawler dozer that easily becomes a loader is ideal for those in the dirt moving business.

Why is it important for CMI to be present at CONEXPO?

Wilson: It enables us to see the latest innovations in our industry from throughout the world. Additionally, it is an opportunity to look at potential other equipment lines that CMI may want to carry for our East TN customer base. We picked up Toro at the last CONEXPO in 2020 and it has been an excellent addition to our line-up.

CONEXPO gives a good indication of what’s happening in the construction industry as a whole. How is it feeling to you?

Wilson: The old school construction industry stereotype is changing rapidly. The industry is strong, but the future needs, and requires, young people to get involved. The take-away from CONEXPO is, if you want to be part of a dynamic, fun, high-tech industry, male or female, this is a great place.

The construction industry is evolving and advancing in many ways. What new technologies or equipment did you see that impressed you?

Wilson: Machine controls are amazing for most of the heavy equipment manufacturers. Video game players will be the operators of the future. CASE Construction’s acquisition of Raven Technologies will be a game changer for both the Agricultural and Construction sides of CASE in the very near future.

What innovations are you seeing in hydrogen-powered or electric-powered construction equipment?

Wilson: Nearly every manufacturer had electric-powered equipment on display at CONEXPO. Electric will have a place in certain segments of our industry, but battery life, universal charging stations, etc., remain a question. The CASE Concept “Tetra” Wheel Loader has a methane engine and, on paper, seems like a great potential use of resources and an efficient machine for the waste management industry.

One last question Blake: Did you win or lose at the tables?  

Wilson: There were moments of success but as usual the House came out ahead.

The next CONEXPO event is scheduled for March 3-7, 2026, in Las Vegas.

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Construction
December 9, 2022

Winter Preparedness for Workers

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Contractors Machinery

It means far more than just wearing hats and gloves!

Winter is well upon us, so the construction industry is slowing up a bit. It’s just one of the necessary evils of this industry; if we don’t allow a little extra time for our projects, the cold temperatures can destroy their quality quickly. In addition to allowing extra time, it is important to know the specifics of how cold affects each step in the building process to best address some of the challenges:

Foundations – Grading and pouring foundations is tricky to say the least when working with frozen ground. It is imperative to excavate the land wisely with someone who is experienced with subgrade ice. Allow extra time to pour and address any issues that may arise with freezing temperatures. If subgrade ice forms at this critical time, there will be ongoing moisture problems in the foundation of the site and the building will be seriously compromised.

Concrete – Concrete needs warmer temperatures to cure correctly and maintain its optimal strength. The American Concrete Institute encourages the use of concrete blankets to slow the drying process during winter months. Far too many in this industry have seen concrete freeze before it dries. Digging it up and repouring is a construction lesson no one ever wants to experience.

Mortar and grout – These, in addition to many adhesives, need temperatures of 50 degrees or more for several days to ensure correct strength. If using them in an enclosed building, be sure to implement portable heaters to ensure adequate warmth in drying time. If this isn’t possible,

consider heating the building material before applying bonding or adding polymer to your bonding agent to increase the temperature of the agent and decrease its drying time.

Drywall – If walls are not mudded in warm enough temperatures, the strength of walls is compromised, causing gaps, cracks, and endless aesthetic issues when walls are being finished and painted. Be sure to maintain room temps of at least 50 degrees during this step of the construction process as well.

No industry can afford to simply shut down during the coldest months of the year. Creative scheduling and careful precautions through every step of the building process will allow your construction business to thrive, despite the addition of seasonal challenges!

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Construction Industry Trends
October 28, 2022

Construction Trends 2023

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Contractors Machinery

Reports are still surfacing on the long-term effects of the pandemic and of the 2020 recession, and the American Institute of Architects (AIA) Consensus forecasts a great year for non-residential building construction in 2023!

This report analyzed several different categories of building and concluded overall that the construction industry did not stagnate during the crisis. The healthcare sector, for example, never declined during the pandemic, and gains are expected to increase 5-6 percent through 2023.

School building construction and renovations went on hold during the pandemic, since students across the country were learning remotely and there was no need to renovate or build. However, in-person attendance is expected to produce a construction industry gain of 2-percent this year and 5-percent from there in 2023.

The pandemic increased the desire for new and improved entertainment and recreation facilities. Of course, this is great news for the construction industry. The forecast predicts 7 – 9 percent increases this year in that arena as well.

Although this all sounds like great news for construction businesses, there are certainly some economic hurdles to overcome. Economists are not optimistic and predict that an economy-wide recession remains imminent. Rising interest rates and inflation, consistent stock market declines, and consumer fears (sparked primarily by rising gasoline prices) remain at hand, and only time will tell how quickly this may affect all industry.

Housing construction remains a significant predictor of the state of the building industry. Seeing a 7-percent increase in 2020 and 16 percent increase in 2021, homeowners are now being hit with increased house prices and mortgage rates. This concerns some enough to believe the industry is not yet out of the woods entirely. But overall, the AIA concluded non-residential building has a solid foundation for continued growth through 2023.

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Benefits to both buying and renting construction equipment
Contractors Heavy Equipment
January 5, 2021

Buy or Rent Construction Equipment

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Emily Bieger

When you’re looking into purchasing heavy duty construction equipment one of the biggest questions is often, “Should I buy or should I rent?” The truth is there is no wrong or right answer. There are benefits to both options. We hope in identifying some of these benefits, you can better determine what works best for your crew and your business.

The Benefits of Renting Equipment:

Renting gives you a little more room to roll with the punches and be more flexible as a business. As both work crews and jobs ebb and flow with social distancing guidelines and lifting of restrictions, you can take on more or less machinery as you need to without the long-term financial burden.

If you have long distance jobs, renting can save you the time and cost of hauling machinery long distances.

Renting equipment also helps when there is a sudden boom of new work. You can increase production without maxing out your fleet or having to wait for your current machines to finish a job. Renting allows for less strain on your profits while you continue to book more business.

The Benefits of Purchasing Equipment:

For some businesses, ownership is more of a reality than ever before thanks to lower financing and leasing rates. Purchasing equipment can also be a better solution for certain types of work. Social distancing has created less time in the office and on public roads creating more government projects, residential construction, and business improvements. In addition, landscapers, contractors, and utility companies may experience a boost in work for home and business remodels.

If you expect to see more work in these areas, expanding your fleet allows for more flexibility in meeting new demand while staying fully prepared for the boost in construction work as COVID-19 restrictions are lifted. Each payment option available helps to pay off your investment while adding to the value of your business.

Whether you’re ready to buy or need to rent for the time being, Contractor’s Machinery, Inc. has got you covered with a full range of heavy-duty equipment to meet all your construction needs, not to mention financing and leasing options. Click here to check out our full catalogue of equipment or request a quote today. If you’re interested in renting find out more here.

 

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423-975-9111
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