Heavy equipment has literally and figuratively been a big industry in Asia for the last decade. Developing countries have been growing towards urbanization and infrastructures are constantly being built. In the midst of it, investors are creating more projects and needing more construction materials, manual labor and equipment. The construction industry goes in demand until it has become one of the leading markets and has been driving Asia’s economy.
As one of the pioneers in the business, Axis Capital Group, a company which sells and rents heavy equipment in Singapore acknowledges the fact that the sudden boost in business has also been because of the integration of technology to present machines. It made the workload easier and the task more convenient for timely realization of the project. Although the industry has been lagging behind for more advanced technological updates, it has adapted enough modernity to keep up to today’s demands.
One of the leading game changer in the boom of heavy equipment is the renting scheme. Since machines can easily be obsolete with new models and units in the market, heavy equipment rental can be relatively useful for short-time usage. Nowadays, it’s a huge business in Asia and is considered as a billion-dollar industry.
Since rental has started to become popular, other developing cities and countries who are separated by oceans and different regions, those who do not have their own local heavy equipment manufacturer complain of the lack of availability of high-quality equipment. Oceans and the separation of islands became a hurdle in the procurement of equipment.
Online equipment rental has been developed to solve the issue of isolation. Ever since shipment and online shopping has been available, isolated developing cities which are also developing their own urban world. Developing cities like Jakarta, Indonesia, Kuala Lumpur, Malaysia and the Philippines had slowly risen to surprise the world of high city potential. China, Japan and other leading manufacturers also developed connection to other regions to selling and renting used equipment made by the likes of Komatsu or Hitachi to companies in other Asian countries.
However, the industry is not without issues. The most prevailing issue in online heavy equipment sales are fraudulent sales and online scams which have been a part of almost all e-commerce businesses. Clients are being fooled at taking prior payment for equipment which will never come or by delivering rusted and poorly maintained equipment which is not returnable.
The online world of heavy equipment can be unpredictable but the demand continues to grow. Despite this, the industry is promising higher growth and more development.