BES News

MEWP rental market shows sustained growth

31st Aug 2018

The MEWP hire market recorded a year-on-year increase of around 8%, according to IPAF’s Powered Access Rental Market Report, compiled by global research organisation Ducker Worldwide.

Figures show the total MEWP rental fleet size at 1.35 million units at the end of 2017 – up from an estimated 1.25m at end 2016.

The UK, along with Germany and Sweden, recorded growth for the seventh or eighth successive year, while the US saw a 4% increase as the total number of units surpassed 580,000. Strong revenue growth was reported in previously stagnating countries such as Spain and Italy, where fleet sizes in the rental market grew 7% and 4% respectively.

Tim Whiteman, CEO of IPAF, said: “Just one of the key findings this year is that, while globally the MEWP rental market looks very healthy, with positive figures and outlooks across the board, there are marked differences between key markets – for instance, the difference in average unit revenue between the US and Europe is extraordinary, standing as it does at $16,092 in the US and $11,624 in Europe.

“This could be down to a variety of factors, such as many European rental companies switching towards more specialist hybrid or electric equipment to keep up with market demand and comply with increasingly strict emissions regulations, or the fact that some European countries such as Spain or Italy are still recovering from the 2008-09 global downturn, while in others such as the UK or Germany high levels of competition are suppressing rental rates,” continued Tim.

China, Malaysia, Singapore and Thailand continue to drive growth in the Asian market, while the UAE is behind much of the rise in rentals in the Middle East. The relative recovery of Brazil’s economy has supported slow growth in the Latin American market, according to the report.

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