EquipmentWatch Cost Recovery – Q1 2022 Cost Update
EquipmentWatch has just released the latest large-scale cost quarterly update. With the latest update, customers will see:
- An average decrease in FHWA rates of 13.6% with some equipment types with a few increasing rates as well.
- Continued trend of lower annual use hours which EquipmentWatch analysts began noticing when the pandemic started.
- 34 new equipment models, including 15 Skyjack lifts, 12 Caterpillar models, and 4 new Atlas Copco hydraulic impact breakers
- Updated data source for Mechanic’s Wage which allows for even more insight into the cost of hiring mechanics during equipment ownership
2021 was a challenging time for the construction industry as delivery of new equipment and materials were delayed driving up pricing of both equipment and materials along with labor shortages. It is important to manage costs where possible and EquipmentWatch’s cost recovery product enables contractors to leverage industry benchmarks and determine costs more competitively.