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News Release from: AMA Research | Subject: Tool Hire Specialist Market - UK 2008-2012
Edited by the Buildingtalk Editorial
Team on 30 January 2008
Tool Hire Specialist Market - UK
2008-2012
New AMA report provides a timely review of the UK Tool Hire market, estimated to be worth GBP893 million in 2007.
The market represents a key sector of the overall Construction Equipment Rental Market consisting of plant hire, tool hire and specialist hire, with considerable overlap in core product sectors Priced at GBP625, the report is currently available from AMA Research First published in 1996, this is the seventh edition of this report reviewing the Tool Hire Market, a market which is continuing to experience underlying growth
This article was originally published on Buildingtalk on 22 Jul 2003 at 8.00am (UK)
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The tool hire market is estimated to be worth some GBP893 million in 2007.
Current forecasts indicate that the market is likely to continue to grow to 2012, reaching an estimated value of around GBP1.1 billion.
The market represents a key sector of the overall Construction Equipment Rental Market consisting of plant hire, tool hire and specialist hire, with considerable overlap in core product sectors The construction equipment rental market is continually evolving, with an underlying trend to higher levels of concentration.
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In addition, more specialists are developing core product sectors, gaining market share and, in some instances, divesting non-core operations which fall outside their primary focus.
The core product sectors of the UK tool hire market include access equipment; drilling and breaking; lighting, welding and power; gardening and landscaping; plumbing and pumping; cutting and grinding, heating; cooling and drying; carpentry and woodworking; cleaning and floor preparation; concreting and compacting; together with a wide range of miscellaneous products.
The UK tool hire market has continued to experience steady underlying growth during the last two years reflecting high levels of government expenditure - for example health and education - also the impact of health and safety, energy efficiency legislation, and a continuation of the trend to outsourcing and facilities management.
By value, multiple branch outlets are estimated to have a 69% share of the UK tool hire market while the builders merchants sector, which is growing strongly, has significantly increased to around 22% share.
However, the share of the smaller hire companies is estimated to have decreased to around 9%.
Periodic regional growth opportunities for tool hire, reflecting the impact of climatic factors, such as severe flooding in 2007 provides strong motivation for many tool hire products - for example, road repairs require mini-excavators, dumpers, compressors, rollers, etc.
Growth prospects in the medium term remain reasonably buoyant, though short term prospects are uncertain and will depend on the impact on the economy of the current global financial problems.
Public sector construction and infrastructure projects will provide good opportunities, though DIY-based hire is forecast to suffer a downturn in he short term.
While the tool hire market is becoming increasingly concentrated, for example Speedy's acquisition of Hewden's tool hire business and Wolseley's acquisition of Brandon Hire, considerable scope exists in the builders merchants sector for expansion, while core specialists continue to expand via acquisition or product specialisation.
AMA Research's "Tool Hire Specialist Market UK 2008-2012" report is available in hard copy or electronic format for GBP625 and can be ordered online or by calling 0871 3103450.
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