Equipment Watch, provider of data, software and insight for the heavy equipment industry, has released its 2016 Tier 4 Benchmark Report, developed in partnership with the Association of Equipment Management Professionals. The report analyzes responses from more than 300 major equipment and rental companies to measure the true impact of the Tier 4 Final transition on the heavy equipment industry.
The report communicates the overall adoption, acquisition and practical ownership of Tier 4 assets. EquipmentWatch and AEMP have partnered again to survey the market to gauge how heavy equipment operators are implementing new technology to meet Tier 4 emissions standards, as well as to better understand the impact of the regulations on the industry.
“This is our second annual report, and Tier 4 equipment trends are taking shape more clearly across the industry,” said Garrett Schemmel, vice president and market leader, EquipmentWatch. “We’ve taken a comprehensive approach, examining everything from purchasing trends and life-cycle expectations to the effect on total cost of ownership. This is a must-have report for fleet managers, equipment dealers and finance experts, as well as OEMs.”
“AEMP is committed to empowering the heavy equipment industry with data and intelligence that helps simplify the equipment management cycle,” added Stan Orr, president of AEMP. “This report helps create consensus on current adoption and management trends around Tier 4 equipment and its lifecycle.”
Among the findings, the report shows that Tier 4 equipment now accounts for a majority of new heavy equipment acquisitions, and that about 63 percent of the heavy equipment financed or leased in the past 12 months is Tier 4 compared to 35 percent in 2014. On average, businesses can expect to pay 15 percent more for financing Tier 4 equipment compared to Tier 3.
About 43 percent of insurance policies written in the past 12 months have been for Tier 4 equipment and on average businesses can expect to pay about 30 percen more to insure Tier 4 equipment compared to Tier 3.
The report is can be downloaded for free at: http://intel.equipmentwatch.com/2016-tier-4-benchmark-report/?elqTrackId=29eec23d2fe8438f88d15b7f01b76058&elq=2a4cbd53b26c41e4a29f83cc8240e27f&elqaid=7137&elqat=1&elqCampaignId=5845&utm_rid=CPEQW000000039321&utm_campaign=7137&utm_medium=email&elq2=2a4cbd53b26c41e4a29f83cc8240e27f