14 September 2022

If your business has weathered the COVID crisis and is back on track, renting machines may be an ideal solution to manage cash flow.Rental demand from the Australian construction, infrastructure and mining sectors continues to grow and Hastings Deering Australian Rental and Used Equipment Manager Peter Papastergos says the company will continue to reap the benefits. Because these industries rely heavily on equipment hire for the various project phases and construction cycles, this has led to rental and used equipment sales growing and the trend looks set to continue.

Pandemic-related supply chain delays also contributed to an upsurge in rental demand as construction activity continued to grow. The impacts were mostly seen in new replacement and growth assets in terms of the company’s ability to renew and upsize its rental fleet to meet high demand. To address this, Hastings Deering has proactively changed its Caterpillar forecasting periods from 6-12 months to 12-24 months. 

Looking forward, Hastings Deering will focus on an expansion drive – including the growth of its rental fleet – which is planned to grow over the next 24 months. Consistent with the steady shift to rentals, numbers for machines like excavators, wheel loaders, articulated trucks and other fleet staples will be bolstered as part of the expansion plans.