The Market

Hirers Enjoy a Record Year as Market Thrives

The boom in construction has seen the UK's top 10 contractors increase their expenditure on equipment hire by 35 per cent over the last year.

According to the annual definitive study of the sector, the Plant Hire Investment Report, these major customers spent a total of £403 million between them in 2006.

The hire industry has expanded on the back of this demand, with only one of the 35 biggest hirers reducing their fleet. The 35 companies had fleets worth a total of £4.9 million, amounting to a 55 percent rise on last year. Although acquisitions add to this figure more than organic growth, the hire sector has clearly outpaced the plant buying of major contractors; the top 40 contractors only raised fleet value by 6 percent.

"The major players have become much more professional and considerably more aware of their role in providing not just equipment but support and advice to customers. For many contractors, hire is now the automatic supplier of their plant requirements. One of the most compelling factors has been safety, in particular legislation and regulation on matters such as work at height have made employers more safety-conscious and receptive to the use of modern equipment." - Ms Stratton

March 2008