Ignite Attachments responds to flexible financing demand
Construction attachments market projected to grow 20% over next 4 years
Equipment attachments and parts manufacturer Ignite Attachments plans to expand its lender network amid growing demand for flexible payment structures.
The global market for construction equipment attachments is projected to grow nearly 20% to $7.5 billion by 2029 from $6.3 billion in 2025, according to market research firm The Business Research Co.
While Moorhead, Minn.-based Ignite Attachments continues to work with Credit Key, which provides credit lines for business-to-business transactions, it is also in talks with other lenders as more customers desire financing options, Sales Manager Joe Twomey told Equipment Finance News.
“We listen to our customers first and foremost. And the message is clear — they want more flexibility, more options and the ability to pay for these high-value items. It’s a little bit difficult to have to pay for everything right up front. … That’s why we’re looking to find the right partner to help assist our customers with that.”
— Joe Twomey, sales manager, Ignite Attachments
Twomey said customers may define “high-value” differently, but Ignite’s higher-end products generally range from about $5,000 to $8,000, according to online listings. These items include 84-inch sweeper buckets, heavy-duty breakers, hydraulic angle brooms and mini trenchers.
Most of Ignite’s products range from $1,000 to $3,000, and many customers bundle several items into a purchase, according to a spokesperson.
Flexible financing offers that could appeal to customers include skip payments, seasonal payments or options for adjusted payment plans, Twomey said. Ignite Attachments did not disclose potential new lenders, but “they’re all eager and recognize the opportunity,” he said.
Broader industry trend
In light of economic challenges such as tariffs, supply chain disruptions, rising new equipment prices and high interest rates, financing for equipment parts and attachments is becoming increasingly important. John Deere Financial, for instance, is urging customers to take advantage of its revolving account plan to pay for parts and maintenance.
OEM Kanga Loaders North America in October partnered with equipment financer PEAC Solutions to bolster financing for compact utility loaders and attachments. Further, Wingspire Capital issued a senior secured credit facility to construction machinery attachments manufacturer TAG Manufacturing this year.
Customer loyalty programs and incentives could also be major opportunities for parts and attachments providers, Twomey said.
“One of the areas that we’re chasing most heavily is our repeat customers,” he said.
The company is preparing to launch loyalty program that provides an automatic 5% discount for repeat buyers, he said. The program also allows customers to test new prototypes and gives insider information about upcoming products, he said.
“We’re looking for ways to connect with our customer beyond just the transaction,” Twomey said.
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