A equipment type allows you to categorize equipments. By default, there is one type configured when you signed up: other.
You can add as many equipment types as needed. Like for example:
Also, equipment types allows to define custom fields specific to that equipment type. For example, a truck can have a custom field that a boat doesn't have.
Managing equipment types
Equipment types can be managed by clicking on Your Account on the top menu and then on Settings.
Then click on Equipment Types on the left menu.