Plant and tool hire sector worth £4bn

The UK plant and tool hire sector increased by 9% to £4.1bn in 2004, which equates to an overall nominal growth of 45% compared with 2000, according to the latest report from Market & Business Devel-opment (MBD).
Reflecting a buoyant construction market, particularly since 2002, growth has been strongest in large plant hire, which accounts for 81% of the overall sector.
In 2004, MBD said the value of the plant hire market reached £3.3bn, a year-on-year increase of 10% and 46% up over the past four years.
The latest report said strong growth in construction output over the next few years is expected to continue to have a positive impact on the market.
Overall, between 2004 and 2009 the value of the plant and tool hire sector is expected to increase by 31% to reach a value of £5.4bn.
One area of concern, particularly to plant hirers, is the indication that some manufacturers are becoming involved in the direct hire of equipment in continental Europe.
Although manufacturers claim they are interested only in long-term contract hire, many plant hirers regard this as competition to their traditional market.
To obtain a copy of the full report, priced at £550, call Market & Business Development on 0161 247 8600.