EquipmentWatch has released its Rental Update for Q4 2021, which outlines retail rental rate trends in the U.S. and Canada across 10 equipment types.
According to the report, seven out of 10 equipment types saw average weekly rental rates rise from Q3 to Q4, with increases ranging from 0.10% for single-drum vibratory compactors to 2.21% for skid steer loaders. “Multiple equipment types, such as crawler-mounted compact excavators and skid steer loaders, saw much larger year-on-year differences in weekly rates, both increasing 7.75% and 8.79% respectively,” the report stated. “The single drum vibratory compactors dropped quite a bit on their weekly rate throughout the year, but have rebounded back up past Q4 of 2020, up 0.12%.”
Quarterly change in rates for the top ten equipment types by volume. These retail rental rates are an overall average by equipment type and are derived from average rates advertised by distributors throughout the United States and Canada. All rates included were either publicly advertised online or obtained through exclusive rental house partnerships.
For small to medium equipment, average weekly rates by quarter for crawler mounted compact excavators and skid steer loaders steadily increased over the past year, from $990 to $1,067 and $852 to $927, respectively. Internal combustion pneumatic tire lift trucks dipped earlier this year but have begun to climb back up, EquipmentWatch found.
For medium to large equipment, average weekly rates by quarter for 4-wd articulated wheel loaders steadily increased year-over-year, the only equipment type with a continuous increase over the 12-month period. Standard crawler dozers and single-drum vibratory compactors also saw overall increases from Q4 2020 to Q4 2021.
Download the full report from EquipmentWatch, including regional analysis and outlook for Q1 2022, here.