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Procurement Market Intelligence Report

Industrial Truck Rental
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Industrial Truck Rental?

What is the average price of Industrial Truck Rental?

This procurement report includes pricing information to help you purchase Industrial Truck Rental. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Industrial Truck Rental been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Industrial Truck Rental yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Industrial Truck Rental?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Industrial Truck Rental with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

Market share concentration among industrial truck rental suppliers is considered low because the top four vendors in the market generate less than 30.0% of total market revenue. In 2021, there are about 1,350 suppliers that rent out industrial trucks and related equipment. Barriers to entry in this market are moderate.... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Industry Experience

How long have you been in business? How long have you been serving customers in my industry?

Are you a member of any trade groups specific to my industry? If so, which groups?

How have you improved your fleet or personnel to meet the changing needs of downstream buyers?

What is the benefit of working with you compared with another supplier?

Customer Service

Who will be my point-of-contact person at your company, and what is their role?

Will my contact have the ability to make immediate changes to the rental policy if I am unhappy with it? How can I get in touch with the point-of-contact person to make such changes?

How many accounts does my point-of-contact person manage, and what level of priority will I be given?

What is the escalation process at your company in case a problem with my rental cannot be quickly resolved?

What changes have you made to your operations to ensure your rentals are germ-free and safe to pick up?

Rental Fleet

What is the average age of your industrial trucks and of your fleet overall?

What concerns do you have, if any, regarding longer wait times for replacement equipment during the pandemic?

Has the makeup of your industrial truck fleet changed in recent years? How and why?

How prepared are you to serve renters during the busiest times of year (i.e. summer months) without a waiting period?

Maintenance & Repair

What preventive maintenance programs do you have in place?

What testing procedures do you perform before sending equipment out to renters?

How will you handle any breakage that occurs while the equipment is in my possession?

Where are maintenance services conducted and by whom?

Should repairs be necessary while the equipment is in my possession, how quickly can repair solutions be worked out?

Reputation

What rental industry trade groups are you part of?

What certifications from industry groups do you possess?

What kind of insurance do you carry?

What is your reputation like among clients and competitors in the market and how have you developed it?

What is your rate of repeat business?

Location

What is the maximum distance you are willing to travel to deliver rented industrial trucks?

Do you allow on-site visits for potential buyers? What types of demonstrations or training can you offer to renters that travel to your site?

What is the typical delivery time for your equipment?

Do you add a fuel surcharge to the delivery? If so, how is the surcharge calculated?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should explicitly state the amount of the contract award.

Buyers should explain when and how many payments will be made.

Buyers can consult the Benchmark Price section of this report to determine about how much they should pay for each industrial truck.

Selection Criteria

Buyers should evaluate the experience of the supplier.

Buyers should make sure the provider offers industrial trucks with the appropriate specifications.

Buyers should evaluate suppliers based on the estimated costs of the units they are offering.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers need to include the date proposals are due and when award information will be available.

Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Industrial truck rental services have a moderate level of supply chain risk, thus hampering buyer power. The primary suppliers for industrial truck rental are industrial machinery and equipment manufacturers. Revenue streams for these providers have been moderately volatile during the three years to 2021 due to shifts in global demand... Subscribe to learn more.

HIGH

MEDIUM

LOW