It is interesting to read this week about the growth of the equipment rental market. This week's newsletter includes details of the latest global survey which indicates significant growth last year in equipment rental revenues. That report follows a number of recent reports of expansion and growth among equipment rental businesses in various markets.
The spike in rentals may be a reaction to the global financial crisis, with businesses opting to rent rather than buy equipment for short- and medium-term needs.
Rental, of course, makes sense when times are tough and organisations are keen to sharpen their balance sheets. It is also a prudent approach when there is uncertainty and operators are unable to bank on future orders or revenue levels.
Again, it's an indication that while things may slow down in one market, they usually pick up somewhere else.