Equipment Manager Confidence Rises

ASSET MANAGEMENT

Confidence among equipment managers is up slightly, according to the Equipment Manager Confidence Index, published by Construction Equipment. The Q3 2022 Index is 95, up from the previous quarter’s reading of 87, but remains below its year-ago level of 105.

The Index measures equipment manager confidence on a scale of 0 to 200, with 200 indicating full confidence that the next month will be “better.”

Confidence rose along with an uptick in expectations that the economy will be healthier in upcoming months.

The Equipment Management Confidence Index is published and available to the entire industry at ConstructionEquipment.com. Other data trends are available only to members of the Index group.

Additional insights available to members:

• Overall economy health
• Current fleet health: now v. last year
• Future fleet health: now v. next year
• Equipment acquisition: better or worse to buy new
• Equipment disposition: better or worse time to sell used
• External rental: better or worse time to rent
• Peer to peer rental: better or worse time to generate revenue
• Planned maintenance: spend more or less than last year
• Rebuilds: more or less likely than last year

In addition to the Confidence Index, members of the platform also provide opinions on trends within asset management, including acquisition expectations, rental plans, and maintenance. In the third quarter, for example, managers had a more positive outlook on renting externally over the next few weeks. With the free access, managers can see how the trend is unfolding and compare themselves to others in the platform.

Equipment end users can have access to these insights for free. Others, such as manufacturers or dealers, may gain access to the data as observers by registering here. The next Index computation occurs at the end of December. Equipment managers can join the group anytime this month in order to provide opinions and access quarter-over-quarter trends. Baromitr’s visualization features also allow members to analyze performance and compare how they are doing relative to others in the group.

The data-driven Index is powered by Baromitr, a scalable, peer-benchmarking platform. The Equipment Manager Confidence Index is a custom algorithm that combines multiple inputs to calculate a score from 0 to 200. The higher it is, the more confident equipment managers are.