In an effort to make it easier for construction crews and contractors to rent tractors and other heavy equipment, Caterpillar has acquired a marketplace for construction equipment called 'Yard Club.'
Yard Club was originally founded as a way to make construction and other heavy equipment easily accessible to construction crews through rentals. The company has also gone on to create digital platforms for its customers to manage the pieces of heavy equipment they own and rent. This includes digital tools for dispatch, scheduling, fleet visibility, inspection and maintenance.
Thanks to its recent acquisition by Caterpillar, Yard Club now plans to expand its efforts to bring technology and smart tools to the construction industry -- an industry that has long been lacking in technology.
Tractor-Sharing Services
'Yard Club' Helps Rent Construction Equipment to Contractors and Crews
Trend Themes
1. Construction Equipment Rentals - Increased adoption of construction equipment rentals through digital platforms presents an opportunity for improved efficiency and cost-effectiveness in the construction industry.
2. Digital Tools for Dispatch and Scheduling - The development of digital tools for dispatch and scheduling presents an opportunity for the construction industry to better manage equipment and crews, improve productivity, and reduce downtime.
3. Smart Tools for Inspection and Maintenance - The development of smart tools for inspection and maintenance of construction equipment presents an opportunity for the construction industry to reduce maintenance costs, prevent equipment failure, and improve safety on job sites.
Industry Implications
1. Construction Industry - Incorporating technology and digital platforms in the construction industry can reduce costs, improve efficiency, and increase profitability.
2. Equipment Rental Industry - The digitization of equipment rental services presents an opportunity for increased market growth and customer engagement.
3. Technology Industry - Developing smart tools and digital platforms for the construction industry can lead to innovation in the technology industry and provide new revenue streams.