EXPERT ADVICE
THE RENTAL
OPTION
Sometimes renting
a paver makes
more sense
By Jeff Winke
T
he construction equipment rent-
al market has exhibited steady
growth in recent years. It has
reached record revenues of $93
billion in 2018 and is expected to reach
$122 billion in 2024, according to
MarketsandMarkets, Northbrook, Ill.,
a B2B market research company. Clear-
ly, the construction equipment rental
market, of which paving equipment
rentals are included, are no small pota-
toes.
Add to that, a 2019 study by the
American Rental Association (ARA)
revealed renting equipment in the con-
struction industry is at an all-time high.
In fact, 93% of respondents reported
having rented equipment in 2019. Of
those who rented, 92% said they expect
to rent at least as much in 2020, while
52% plan to rent even more.
To provide perspective, consider that
pavers perform the essential function
of laying asphalt on roadways, bridg-
es, parking lots, driveways, pathways,
and other surfaces. When there is the
need to expand the fleet on a tempo-
rary basis or the need for an emergency
replacement, renting equipment often
provides the best value.
“Usually renting makes more sense
if you are using the paver for a specif-
ic project over a short period of time,”
stated Shane A. Sommers, sales con-
www.callape.com
sultant, with Hitek Equipment, Inc.,
Kenosha, Wis. “How long will the proj-
ect last or, frequency of jobs would be
a key factor. If the paver will be used
over an extended period or, if it will be
frequently used on different jobs, then
purchasing would usually make more
sense than renting.”
93%
respondents reported having
rented equipment in 2019
Equipment rental plays a role.
“We see contractors renting asphalt
paving machines for a number of rea-
sons,” reported Bryce L. Davis, general
sales manager, North America, LeeBoy,
Lincolnton, N.C. “Contractors will
rent equipment if they picked up extra
work for the short term, or have an odd
type of paving opportunity, like utility
[24]
cuts. Some jobs call for a backup pav-
er to be on site or your machine is un-
dergoing normal maintenance and or
repairs. Sometimes a contractor picks
up a job that’s way outside their normal
travel zone, which can make it cheap-
er to rent a machine then deal with the
long haul both ways. Or maybe a con-
tractor just wants to try a different sized
machine or model before buying it.”
Davis continued: “With any short
term needs for an asphalt paver, renting
is the way to go. Renting is also a good
source for any asphalt firm to always
have that second machine available, if
or when needed, without owning it.
Some contractors have found many
benefits in renting an asphalt paver for
a season, then purchasing it. This try-it-
out approach helps to make sure your
crew is productive with this paver. You
get to test the machine for a season un-
der your production requirements and
market. You also get to test the ser-
vice and parts at the dealership before
buying. There’s also those who always
want a new machine each paving sea-
son without the obligation and costs of
ownership.”
Clearly, renting paving equipment
helps meet contractor needs and pro-
vides business benefits.
“We typically see renting occur under
three scenarios,” said Travis Colwell,
1.800.210.5923