3 Aerial Industry Trends We’ve Identified Midway Through the Year
Simon Meester - President, Genielift
Jul 28, 2022, 01:00 AM
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The halfway point of the year is a good time to check in on what’s been happening in our industry and what’s to come. Here are three trends I’ve seen rise to the top in 2022.
1.Emphasis on Electric Machines
As emission reduction goals and regulations spread, it only makes sense that the push for electric machines is gaining traction as well. But rental companies and end users need machines that also perform on jobsites and make financial sense.
With nearly six decades of experience in the aerial equipment industry and almost four decades since the introduction of our first electric machine, the Genie team is continuing to apply our expertise to lead the industry forward. We’re developing electric boom lifts and scissor lifts that not only reduce emissions and noise pollution, but also get the job done and protect equipment owners’ bottom lines.
As always, our emphasis is on quality, which is why we aren’t simply converting diesel machines to electric. We’re researching, testing and developing purpose-built electrified equipment that use industry-leading technology. Electrification is the future, and we’re committed to providing the solutions our customers need to last long into that future.
In addition to meeting evolving jobsite requirements, an extra perk for those using electric equipment is that it can also help open doors to new opportunities securing emission-or noise-regulated jobs. Working indoors, in populated areas or even at night is more feasible with low-or no-emission, low-noise electric equipment.
2. A Focus on Total Cost of Ownership
With inflation and supply chain issues squeezing margins, savvy business owners are looking closely at all of their costs. That means looking not just at a machine’s initial purchase price, but the total cost of ownership —how much it will cost to own that piece of equipment over the life of the machine. That does include the purchase price, but it also includes tangible things like the time and expense of maintenance and residual value, as well as the intangible reputational damage that can occur if your equipment frequently breaks down on the jobsite. Perhaps more than ever, customers are looking for machines that are durable, reliable, and easy and cost-effective to maintain.
Another consideration for rental companies is rental return on invested capital (rROIC), which considers purchase price, warranties, parts, maintenance, demand, rental rates and residual value. TCO and rROIC are top of mind for us as we develop new products and update existing models. Some great examples are our electric-drive scissor lifts, which offer a 35% reduction in lifetime maintenance costs thanks to design optimizations like fewer hydraulic hoses and fittings. And because there is no engine, maintenance products like engine oil, oil filters, diesel particulate filters or diesel exhaust fluid aren’t needed.
It’s not just about electric, though. Last year we introduced the new GTH™-1056 telehandler, which has proven to lower TCO by 10% thanks to features like its long-life Enduro A/T tires, which are exclusive to Genie, and a 74 hp DEF-free engine, which eliminates the need to add diesel exhaust fluid (DEF), saving time and maintenance costs.
3. Digital Takes Off
Telematics is nothing new, but its adoption in the aerial industry is really picking up. It’s safe to say that the reason is because data and insights are more important than ever.
Telematics offers owners and fleet managers valuable information about the condition of the machine, including upcoming maintenance needs and potential issues on the horizon. With this information, equipment owners can better plan for maintenance, improving uptime. This information also can help technicians diagnose a problem with a machine in the field remotely, so they can show up to the jobsite with the right tools and parts to get a down machine back in service faster.
Genie®Lift Connect™ telematics technology gives fleet managers the power to leverage reporting to identify problems, search for individual asset numbers or models and understand machine utilization to maximize productivity.
Helping Our Customer’s Businesses Succeed
When you boil it down to the simplest terms, the trends we’re seeing are making our industry more sustainable and efficient. It’s also about helping equipment owners maximize every minute and dollar they can —which is just good business. With Genie’s time-tested commitment to quality equipment and service, you can trust that we have those same interests in mind.Questions? Connect with your local Genie rep or contact us here.