There are many economically sound reasons why it may be favourable for a business to hire equipment rather than to buy it. Whilst ownership does, of course, represent capital investment within a business, even this benefit can often be cancelled out by the cost of financing the equipment itself.
Another strong argument for hire is related to the actual amount of use the owner of the equipment is likely to utilise. Repairs and maintenance are also well worth taking into account before purchasing equipment that may then end up stored away waiting for that next specialised task it will be required for.
The benefits of hiring equipment are likely to include such things as fixed budgeting and only having to pay for the equipment whilst it is actually being put to work.