Axis Capital Group, a construction equipment rental and sales company based in Singapore, expects construction equipment rental activity to grow about 18 percent, according to a survey conducted by the company. The company said the interest in rental has grown as contractors and construction companies continue to be hesitant to commit capital to large purchases.

In recent months, Axis asked 100 of its dealers across Southeast Asia about their own business’ rental activity, equipment purchases and utilization rates.

Early this year, Axis Capital Group has extended its financing program for dealers, making it easier for them to purchase equipment for their rental fleets.