Key Takeaways for Decision Makers
CONTRACTOR: General shop tools such as saws and drills typically have a very short economic life. This is something to keep in mind when purchasing these types of equipment since replacement could only be a year or two away.
On April 16, 2015 MagikMe Equipment analyzed the equipment types with the longest economic life using data that supports the Rental Rate Blue Book and Custom Cost Evaluator. On the opposite end of the spectrum are the equipment types with the shortest economic life.
Out of 460 equipment types, sequential arrows for vehicle mounting have the shortest economic life at just 1.3 years. On average they can be expected to last 1,320 hours, but are generally used 1,000 hours each year, creating a short lifespan.
Only lasting 1.4 years on average, circular saws, pistol grip chain saws, and pole chain saws all tie for the second spot. These equipment types have the lowest average economic life hours of 950, and almost reach the end of their life in just one year. With an average use of 700 hours per year, you can expect to replace these saws rather quickly.
Chain saws, cut-off saws, and hammer drills are next on the list falling in the third spot. Chain saws and cut-off saws both have average annual use hours of 1,000, and are used 675 hours per year on average, creating an economic life of 1.5 years. Hammer drills also have an economic life of 1.5 years, but have slightly higher economic life hours (1,150) and annual use hours (775).
Singularly occupying the fourth spot is electric circular hand saws. With average economic life hours of 1,500 and annual use hours of 900 you can expect this type of equipment to last you 1.7 years on average.
Rounding out the list are standard hand held drills and hand held continuous production drills, both with an economic life of 1.8 years. With average economic life hours of 1,300 and average annual use hours of 725, standard hand held drills end up with a life shorter than two years. Hand held continuous production drills also have a lifespan less than two years due to average economic life hours of 1,350 and a use of 750 hours per year on average.
