Skyjack president dicusses North American rental market at International Rental Conference
Skyjack President Ken McDougall presented, virtually, at the International Rental Conference in Shanghai on the North American rental market.
"We've had our eye on the Chinese market for some time now and have seen a shift, similar to what we experienced in North America during the 1990's, towards greater acceptance in construction rental," Ken McDougall, president at Skyjack comments. "As a country known for their dealer networks and owned construction products, this shift - while small - provides a noticeable opportunity for rental companies to take hold in China."
The presentation focused on the core aspects of North American Rental business including:
- Aerial fleet sizes
- Rental revenue (historical growth and current state)
- American Rental Association's Rental Penetration Index
- Fleet age in North America
"There are noticeable differences in product composition between North America and China, and it'll be interesting to see how those differences adapt with the growing rental market," McDougall continues. "The North American market has matured and adapted throughout times of recession, prosperity, and consolidations. We're seeing China trend in a similar direction and it is a great market for companies like Skyjack that focus on robust materials, low-maintenance design, and maximum uptime."
The International Rental Conference, hosted by International Rental News, hosted a combination of in-person and virtual presentations this year due to the COVID-19 pandemic and its restrictions on travel. The material presented focused on the equipment rental industry in China and wider Asia.
"China is a very important market for us so it's important that we do our part in ensuring a smooth growth period for our industry there," McDougall explains. "While China is its own market, I feel it is worthwhile touching on some North America trends - the good and bad! I certainly don't believe we have all the answers, however there may lessons to be learned from the historical rental growth in North America. I am happy to share that knowledge if it helps the Chinese and the Asia market overall to prosper."