Dublin, Ireland-based Research and Markets last week released its Plant Hire Market Report 2007 predicting “reasonably strong growth between 2007 and 2011.” The report estimated the U.K. market for plant, tool and access hire at an estimated £7.63 billion in 2006 (about U.S. $15.9 billion).
The report says 70 percent of the U.K. rental market is “plant hire”, which includes industrial and construction equipment rental. About 20 percent of the market is tool rental, the reports said, and scaffolding and access platform hire accounts for an additional 10 percent. The report said the best-performing sectors of the market in the short term are expected to be crane and access rental.
The report said competition in the saturated construction rental market is fierce, with consolidation and a focus on core sectors occurring throughout the industry, with a growth in acquisition activity.
Key U.K. rental companies will increase their revenues from international markets over the next four years, the report said, as well as benefiting from an improved “plant hire” climate within the U.K. The construction market is expected to grow 5 to 8 percent annually on a short-term basis, with tool-hire more in line with construction growth at between 3 and 4 percent annually.
For more information, visit http://researchandmarkets.com/reports/c75748.