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Tue July 15, 2025
Bobcat
July is National Vehicle Theft Prevention Month, which offers our industry a crucial opportunity to understand the growing issue of equipment theft and how its data is driving change.
Recent reporting indicates that instances of equipment theft are on the rise — creating new challenges on job sites and driving up costs for operators, contractors and business owners. Let's drill down into this data to better understand why enhanced security solutions, like Bobcat's Machine IQ and other telematics systems, are now more important than ever for machine/ fleet protection.
• $1 Billion: The estimate annual loss from equipment theft on construction and farm sites.
The National Equipment Register estimates the average cost of a single instance of equipment theft is $30,000. This does not even include consideration for loss of productivity from shutdowns or delays that stem from instances of theft.
• 36 percent of construction site thefts involve wheeled and track loaders*
Equipment that is easy to move, valuable and re-sellable makes ideal targets on unsecured job sites. Wheeled and tracked loaders sometimes share universal keys or lack immobilizers, and without real-time monitoring, can go unnoticed until the crew arrives the next day.
• 21 percent of stolen construction equipment gets recovered.
Only 21 percent of stolen construction equipment gets recovered**. This means targeted operators, contractors and business owners incur additional costs as they rebuild their fleets through new investments or rental. Furthermore, stolen equipment can result in disruption to cash flow, extended timelines and increased project budgets, and an insurance premium increase after filing a claim.
*Reported by Sirix, Construction Site Theft Statistics, 2023.
**Reported by the National Equipment Register, Verisk Insurance Solutions and the National Insurance Crime Bureau (NICB), 2016.
While there are a variety of factors that can impact the likelihood of equipment theft — such as work site location or lack of adequate surveillance — enhancing security measures and improving asset tracking may help deter potential thieves.
Article courtesy of Bobcat
This story also appears on Construction Equipment Guide.