The Future of Rental Looks Strong at EDCO
The demands from the market and the contractor will continue to drive the need for strong and supported rental equipment
It’s no secret that the demand for rental equipment is growing. The rise in prices for new construction machines is encouraging construction companies and contractors to shift their interest toward renting construction equipment. In fact, the global construction equipment rental market size was valued at USD 187.46 billion in 2022 and is expected to expand at a compound annual growth rate of 6.12% from 2023 to 2030.
“The rental industry is in a great position right now,” Bill Harding, Co-Chair of the Board of Directors at EDCO said. “There’s a lot of demand for the equipment and there are a lot of continuing factors driving that need. Here at EDCO, we’re working to be the provider of choice for contractors looking for equipment in the surface prep, cutting and grinding space – and we’re always evolving to do that.”
With over 65 years of experience building equipment that continually meets and exceeds the needs of rental customers, EDCO is ready to see how they can expand upon their success and ensure they’re able to serve this industry well into the future. “We have seen the rental industry grow exponentially over the last few years and are proud to be a part of its evolution,” Jason Stanczyk, President of EDCO said. “For the last 65 years we have, and will continue to, build the durable and productive products that our customers demand and we are excited for what comes next.”
The Demand for Simplicity
As products continue to evolve with the technology available, contractors in the rental space are still looking for machines that serve their needs and EDCO strives to provide that. As EDCO develops their products, they continue to keep their end-user top of mind.
“We test our products with both contractors and rental customers in the field to ensure there are no weak areas on a machine or user pain points that need to be addressed,” Harding said. “We know that our customers make their livelihoods around the use of our equipment and value their feedback immensely. We value all feedback, good or bad. We take the bad and go back to the drawing board to ensure we deliver our customers a product that will last once the machine finally gets to full production.”
Many times feedback on the machine comes in the form of praise for the simple machine design as contractors in the market are continually strapped for time and resources. “Contractors today don’t want to be bothered with buying equipment and having to service that equipment,” Harding said. “It’s hard for them to try to hire a mechanic in house and so they rely on their rental equipment to keep everything running instead. We provide a machine that’s dependable and easy to maintain which makes it easier for contractors to run the equipment and easier for rental houses to sell.”
Meeting Future Needs
EDCO is sure to balance the demand for easy-to-use and maintain machines with the changing times. As their research and development teams upgrade existing machines based on customer feedback, they also have their eye on the future and are ready to evolve with the industry.
The company name, which stands for Equipment Development Company, has always been ready to create what their customers need and build equipment based on that demand.
“If somebody comes to us with a problem, we’ll look at it and see if there’s a feasible way that it can be solved,” Harding said. “There have been applications in the past where we have designed pieces of equipment for specific applications, but the demand has to be there. Everything today is pretty much demand-driven. We do the best we can to stay on top of that, and stay equal to or better than our competition.”
And meeting the future demand of electric equipment is the next challenge EDCO is ready to tackle. “Obviously there is a lot of buzz around battery-powered equipment and we’re looking into that,” Harding said. “It looks very promising for everybody and we know the benefits for the environment. There’s a whole new arena out there for equipment that has to be developed, and we’re doing that research on our end. We even have customers who are testing some pieces out for right now. As of today, the future of battery-powered equipment is in flux, but EDCO is ready – as always – to meet whatever comes next based on what the industry demands.”
People First Mindset Ensures Long Term Success
In 2024, EDCO is celebrating 65 years in business and is showing no signs of slowing down. To keep up with their goals, EDCO is investing heavily in their processes and people to ensure a successful future for the company.
“Internally, we are continually focused on fostering a positive company culture that inspires and challenges our people,” Stanczyk said. “We want to give our people the opportunities to grow by pushing them outside of their comfort zone and providing them with the resources they need to become better leaders.”
EDCO knows that by continuing to make these investments in building a strong company culture, they will become the employer of choice in their hometown of Frederick, MD – and beyond.
“The investment in our people internally will trickle down directly to the evolution of everything we do,” Stanczyk said. “Our products will be better, so will our training and support. Since everything we do starts with our people, we want to be sure to provide the right opportunities for them to thrive here at EDCO.”
Learn more about opportunity at EDCO by visiting them are ARA in Booth #1419.