As the global logistics and warehousing industry continues to grow, the demand for efficient material handling is on the rise.
This includes using equipment to help with this efficiency!
Did you know that the global forklift market size was valued at $36.7 billion in 2020? It is expected to expand at an annual growth rate of 3.5% from 2021 to 2028.
This shows that the demand for forklifts is on the rise, and businesses are exploring new ways to get these essential machines.
While owning a forklift may seem like the obvious solution, it’s not always the most practical or cost-effective choice. That’s where forklift rentals come in. Keep reading to find out everything you need to know.
Cost Savings
Purchasing a forklift outright can be a significant financial investment, and not every business has the budget for it. By opting for forklift rentals, businesses can save a considerable amount of money on upfront costs.
Also, maintenance and repair costs are also reduced as these expenses are typically covered by the rental company.
Time and Flexibility
Forklift rentals offer businesses flexibility. They can adjust their material handling equipment needs based on their changing requirements.
This means that they can easily scale up or down their forklift fleet as per their project or operational demands.
This flexibility can be particularly beneficial for businesses with seasonal fluctuations in demand.
Access to the Latest Technology
Rental companies often update their rental fleets with the latest technology and equipment.
This means that businesses that opt for forklift rentals can benefit from using the most advanced and efficient machines. They can do this without having to worry about upgrading or purchasing new equipment.
Reduced Downtime
When a forklift breaks down, it can result in significant downtime for the business. This leads to delays in operations and potential loss of revenue.
With forklift rentals, businesses can mitigate the risk of downtime.
This is because the rental company handles maintaining and repairing the machines. Usually, they will send a replacement while the current one undergoes repair or service. So your business won’t suffer any downtime at all.
Reduced Administration Time
Owning a forklift comes with a host of administrative tasks! You will have to manage maintenance schedules. Also, you must keep track of repair costs and handle the paperwork for insurance and registration.
By opting for forklift rentals, businesses can reduce the time spent on administration and focus on their core operations.
Forklift Rentals: Winning!
Forklift rentals offer several benefits to businesses of all sizes. By opting for forklift rentals, businesses can save money! They can benefit from flexibility and access to the latest technology. Lastly, they will reduce downtime, and reduce their administrative burden.
With the demand for forklifts on the rise, forklift rentals give a practical and cost-effective solution for material handling equipment needs.
If you’re going to be operating a forklift, you’ll need some forklift training. Check out our training options here.