Some 46% of rental companies in Europe plan to reduce their CapEx as a result of the Covid-19 pandemic, according to a new survey. The majority (54%) of rental respondents indicated they would at least maintain their fleet spending.
The survey, conducted by Lectura in collaboration with the European Rental Association (ERA) and the Committee for European Construction Equipment (CECE), saw more than 30,000 survey responses collected. The European sample comprised 10,180 responses, of which 3% were from rental companies. The rest were machine owners (74%), contractors (13%) and dealers (10%).
Regarding the impact of the pandemic on rental companies to date, the responses painted a mixed picture. Although 64% saw some level of decline in busines activity, 28% reported no impact. Of those who have been impacted, 19% have seen a 30-50% drop in activity. In contrast, 8% of respondents have enjoyed an increase.
Almost half of rental respondents said short-term rental was the most affected business segment, while 19% suggested long-term rental had been hardest hit. The large majority (77%) of rental respondents have not had to sell any part of their fleet to improve liquidity.
The full results of the survey are available on Lectura’s website.