It is a commonly accepted truth that a healthy global economy, alongside construction booms in the middle east and China, has left the construction industry in desperate need of cranes, pushing manufacturers to the limits of their production capacity and offering rental companies the chance to make the most of their fleets. Cranes Today’s most recent online poll tried – with an admittedly small sample size – to assess whether this optimism is justified.
The results were resoundingly positive. None of the respondents reported that rental rates were down significantly. A little more than a third said they were down slightly, but two thirds said they had a improved. Most reassuringly of all, half said they had seen significant increases in rental rates, with 37.5% saying they were up more than 40% on 2001 figures.
These results are undeniably good news for the industry today, but they pose a question for the future: can we expect the general economy, construction growth, and, consequently, the crane industry, to continue to experience this level of growth? If so, for how long? With a new year upon us, and our thoughts on years ahead, next month’s Cranes Today poll, at www.cranestodaymagazine.com asks: How long can the currrent construction boom continue? As ever, we welcome your letters on this subject.
