Equipment type (CRS040) is a user-definable classification system.
Equipment type is normally used to collate similar equipment into types, but it can also be used for cost analysis.
This could for example be used to classify pumps into different types of pumps: centrifugal, reciprocating, vacuum and so on. In the case of cost analysis, equipment type can be used to find out how much has been spent on particular types of pumps in the past year, month etc.
These statistics can then be expanded to the costs of individual pumps.