The market for industrial machinery rentals in India is poised for exponential growth, driven by macroeconomic tailwinds such as GDP growth from capex investments and expansion in manufacturing and warehousing. This has increased demand for material handling equipment (MHE) in both rentals and outright purchases. Rentals are expected to grow steadily as organizations seek to outsource to professional MHE service providers who offer uptime, ESG compliance, quality and safety, allowing these organizations to focus on their core products and services.
However, customers face challenges in renting heavy machinery, including finding the right equipment and ensuring operational safety. GEAR (Gemini Equipment And Rentals) established in 2007, is India's leading provider of material handling equipment solutions. GEAR India specializes in MHE (Material Handling Equipment) Capex (Outright purchase) and Opex (Rentals) and the MHE industry in India is poised for significant double digit growth driven by the twin engines of ‘Sustainability’ and ‘Digitalization’ as organizations seek to use MHEs that not only improve their productivity by delivering a higher ROI, but also MHE solutions that aid in decarbonization (via use of Zero Emission MHEs) and are Digital/Tech enabled (such as the use of AI based Fleet management systems and sensors for enhanced safety of operations).
GEAR India, a private equity-funded enterprise, was established as a pioneer in the Material Handling Equipment sector. Since its inception, the firm has achieved the distinction of being one of the leaders in the MHE business in India. With a team of over 1000 professionals and a nationwide presence, the company has the privilege of having an installed base of over 2000 MHEs, including forklifts, reach trucks, and battery-operated pallet trucks. The company leads the charge in decarbonizing the MHE industry with its pioneering adoption of Ze ro Emission technologies, particularly through Lithium-ion powered equipment. “As India's top provider of Lithium-ion MHEs, GEAR has deployed over 900 units since January 2022”, says Varun Chopra, Executive Chairman.
Leading the MHE Rental Revolution
GEAR India’s product lineup includes forklifts, reach trucks, battery-operated pallet trucks, tuggers, VNAs, and DDRTs, alongside specialized equipment like fireproof and sensor-equipped machinery for enhanced safety. In addition to equipment rental, the company offers Operations and Maintenance (O&M) services to ensure peak performance and uptime. The firm also specializes in retrofitting lithium-ion solutions and provides operator training through the National Institute of Operator Training (NIFOT).
GEAR India distinguishes itself through a strong organizational culture rooted in performance and integrity, guided by core values like Trust, Safety, Respect, Integrity, Discipline, and Teamwork. Leveraging custom-made IT tools and apps, GEAR enhances operational efficiency and agility. The recent upgrades to warehouses in Mumbai and Chennai further underscore GEAR's commitment to optimizing logistics and service capabilities. These facilities not only support MHE storage and maintenance but also streamline inventory management of spare parts, facilitated by advanced technology integration for tasks like MHE refurbishment and parts dispatch.
The firm has spearheaded decarbonization in the MHE industry with groundbreaking achievements, including deploying India's largest fleet of 3 Ton Lithium-ion Forklifts at Vedanta, pioneering the first Lithium-ion Reach Truck, and fulfilling substantial orders like 275+ Lithium-ion Tuggers for leading e-commerce giants. Further milestones include delivering the industry's largest fleet of five 5-ton lithium-ion Forklifts and unveiling India's inaugural ten 10-ton lithium-ion Forklift. These initiatives highlight GEAR's commitment to sustainability, recognized with a prestigious Silver Medal from EcoVadis in 2023, affirming its leadership in promoting environmental responsibility across diverse sectors.
GEAR India plans to consolidate its leadership in the MHE and O&M sectors by expanding its range of high-productivity, zero-emission equipment. With a focus on ESG principles, safety, and quality, the company is poised to strengthen its position as a trusted partner in the industry, catering to evolving customer needs while driving sustainable growth and operational excellence.
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