At Equiphunt, we prioritize customer satisfaction and retention by offering a seamless and comprehensive rental experience for advanced equipment.
Manish Sharma
Business Head, Infra.Market – Equiphunt
Can you provide a brief history and overview of your company, including the range of equipment you offer for rental?
Started in 2016, Equiphunt also known as Sociam Equipment Solutions Pvt. Ltd functions as a one-stop provider for all equipment and service needs, headquartered in Thane in Maharashtra. As an innovative player in the equipment rental market, its peer-to-peer rental marketplace offers a USP that remains largely untapped in the Indian market. With over 2000 equipment listed under this company, Equiphunt is a first-of-its-kind business idea that is coupled with a Mixed Fleet Asset Management Platform. From trading of spares to old and refurbished equipment, big brand names as well as SMEs can locate equipment within their budget. We provide specialized vertical equipment rentals, including tower cranes, luffing cranes, vertical booms, passenger hoists. We also supply a range of equipment including hot mix plants, batching plants, transit mixers, boom placers, excavators of various sizes, and other essential machinery for road construction and irrigation to contractors and customers.
What are the current trends you observe in the construction/infrastructure equipment rental market?
One of the current trends in the construction and infrastructure equipment rental market is the increasing demand for specialized vertical equipment. This trend is particularly evident at construction sites, where the cost of advanced machinery is substantial. Many contractors are opting to rent equipment on a just-in-time basis rather than committing to ownership. This shift not only helps in managing costs more effectively but also ensures access to the latest technology without the burden of maintenance and depreciation expenses. As projects become more complex and timelines more stringent, the flexibility and efficiency offered by equipment rental services are becoming increasingly attractive to industry professionals.
What are the primary challenges faced by rental companies in this industry, and how is your company addressing them?
A significant challenge faced by rental companies in the construction equipment industry is the mental fatigue experienced by operators due to prolonged seated work. This fatigue can lead to an increased risk of human error-related accidents, impacting both safety and productivity on site.
Our company adopts several proactive measures to combat this challenge. Firstly, we prioritize the proper rotation of operators to minimize fatigue and maintain peak performance levels. Additionally, we ensure that sufficient operators are available, allowing for breaks and shifts that prevent overexertion. Moreover, we invest in ergonomic equipment and offer training on overall wellness practices to help our operators maintain focus and alertness throughout their shifts. These efforts not only enhance safety but also contribute to the overall efficiency and reliability of our rental services. Ensuring equipment age compliance is a significant industry challenge that we address by closely coordinating with site personnel. Our inventory is meticulously maintained to include equipment that meets specified age limits.
How has technology impacted the rental equipment industry, and what innovations are you implementing to stay ahead?
Technology has significantly enhanced transparency and data-driven decision-making for contractors and owners. Equiphunt aims to revolutionize the Indian heavy equipment market through a commitment to innovation and excellence. With a focus on embracing change and leveraging data-driven decision-making, we are excited to introduce “EhtrackR,” a cutting-edge platform that facilitates equipment rentals between contractors and owners. This platform enhances the management of rental projects by providing comprehensive monitoring and control of equipment, ultimately driving efficiency for both customers and equipment owners. Our focus is on optimizing equipment usage, lowering operational expenses, and harnessing cutting-edge advancements in data science, IoT, and AI to reshape the heavy equipment industry.
We are aggressively advancing our technology to implement systems that allow us to monitor the idle capacity of machines, facilitating efficient deployment.
What strategies do you employ to ensure customer satisfaction and retention?
At Equiphunt, we prioritize customer satisfaction and retention by offering a seamless and comprehensive rental experience for advanced equipment. We provide contractors with a one-stop destination for renting construction equipment, ensuring hassle-free execution and operations. Our commitment as a provider includes maintaining a diverse inventory of high-quality equipment, delivering timely and efficient service, and offering competitive pricing. We prioritize personalized customer support, promptly addressing specific needs and concerns. By continuously improving our processes and leveraging technology to enhance efficiency, we aim to exceed customer expectations and build long-term relationships based on trust and reliability. Additionally, as dealers of spares, we minimize equipment downtime, providing customers with a distinct advantage.
How is your company incorporating sustainability practices into its operations?
In an industry that is often scrutinized for its environmental impact, Equiphunt is dedicated to reducing the environmental burden through various methods. We ensure that worn-out spare parts from rental equipment under our control are disposed off responsibly, allowing for recycling and reuse whenever possible. This reduces landfill waste and promotes the sustainable use of resources. At Equiphunt, we integrate cutting-edge technologies to efficiently manage our inventory. When establishing dealership partnerships, we meticulously evaluate the environmental practices and policies of prospective parent companies. Furthermore, we consistently review our operations to uncover additional avenues for sustainability. This includes optimizing logistics to reduce emissions, investing in energy-efficient equipment to minimize energy consumption, and implementing measures to reduce waste.
What are your projections for the future of the equipment rental industry, and how is your company preparing for it?
The future of the equipment rental industry appears promising, driven by the surge in construction projects and substantial government investment in infrastructure. We anticipate significant growth in this sector as demand for rental equipment continues to rise. At Equiphunt, we are strategically preparing to meet this increasing demand by expanding our network and onboarding more equipment owners onto our platform across various locations. By broadening our reach, we want to provide a more extensive and diverse inventory of rental equipment, ensuring that we can meet the needs of contractors and construction companies efficiently. Additionally, we are investing in technology and innovation to streamline our operations and enhance the customer experience. This forward-thinking approach positions us not only to adapt to industry changes but also to lead the way in delivering exceptional service. As we look ahead, Equiphunt remains committed to driving efficiency and sustainability in the equipment rental space, ultimately contributing to the growth and evolution of the industry.
