| AM71004 |
| AMA Research Report : UK Tool Hire Market : July 2004 |
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Introduction and Overview
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| 9 | Information on Report Contents: |
| 10 | |
| 11 | The Market Report includes:- |
| 12 | |
| 13 | 1. Introduction |
| 14 | 2. Housing In Perspective |
| 15 | 2.1 Total Housing Market |
| 16 | 2.2 Housing Market In England 2.2.1 Housing Market By Tenure 2.2.2 Stock Transfers 2.2.3 LA and Housing Associations Provision |
| 17 | 2.3 Housing Completions In England |
| 18 | 3. Local Authority Housing |
| 19 | |
| 20 | "A comprehensive and up to date review of renovation activity in the Local Authority Housing Market" |
| 21 | |
| 22 | Tables and Charts include:- |
| 23 | |
| 24 | Total Housing Stock In The UK By Region 2002 |
| 25 | |
| 26 | Housing Market In The UK By Region & Tenure |
| 27 | |
| 28 | England - Total Housing Stock |
| 29 | |
| 30 | Scotland - Total Housing Stock |
| 31 | |
| 32 | Wales - Total Housing Stock |
| 33 | |
| 34 | Northern Ireland - Total Housing Stock |
| 35 | |
| 36 | LA Housing Stock In The UK By Region 2002 |
| 37 | |
| 38 | Total Housing Market By Tenure 1981-2002 |
| 39 | |
| 40 | Social Housing In England By Local Authorities And Registered Social Landlords 1981/2002 |
| 41 | |
| 42 | Housing Completions In England 1985-2002 |
| 43 | |
| 44 | LA Housing Stock In England 1995 - 2002 |
| 45 | |
| 46 | Mix Of LA Dwellings By No. Of Rooms 2002 (%) |
| 47 | |
| 48 | Mix Of Local Authority Dwellings By Age 2002 |
Executive Summary
| Since 2000, the UK Tool Hire market has experienced a period of steady growth where the principal driver was the repairs, maintenance and improvement ("RMI") market supported by strong consumer demand, together with low interest rates, lower unemployment and house price inflation. It is believed that the RMI market will continue to drive growth in the sector along with the expansion of government spending. |
| The total market in 2003 is estimated to be worth around £750 million at hire prices, which represents a reasonable level of growth over 2002/01. |
| Market conditions have improved steadily since 2001, reflecting improvement in the construction sector despite a deterioration in manufacturing and difficulties in key export markets such as America, Germany and Japan. However the September 11th terrorist attacks adversely impacted the economy in general overall tool hire market in the last quarter of 2001 and throughout 2002, although flooding problems did benefit generator, pump and dehumidifier hire. |
| In 2003, higher government spending sustained construction growth in the face of weakening infrastructure and private commercial/industrial sector building output. Home owners were encouraged to improve their properties because of rising house prices and the tool hire market benefited substantially from this increase in spending. |
| Reviewing the situation mid 2004, there appears to be an improvement in the manufacturing, IT and telecom sectors. It is therefore indicated that, together with improving construction and sustained spending on home improvements, growth of 4% is forecast for 2004, followed by further growth up to around 5% in 2005. |
| In terms of industry structure, the market leaders are HSS, Speedy, A-Plant, Hewden Stuart and Brandon. These companies have expanded their networks rapidly through acquisition, organic growth, or a combination of both. GAP Group and Wolseley (Hire Centres), Travis Perkins, VP Plc and Jewsons also have substantial networks. |
| Within our definition, and focusing on purely tool hire, the tool hire industry is estimated to comprise around 2500 outlets in the UK, though this is open to substantial discussion based on the definition of specialist and merchant branches . There has also been a significant number of new independent branch openings as well as rapid growth of major multiple outlets such as Speedy. In addition, HSS have expanded their UK agency programme with independent builders merchants and decorator centres. |
| Multiple branch companies (with 4 or more outlets) account for around 74% of the market, builders merchants 12% and small hire companies 14%. |
| The range of products offered by hire companies is wide. Our report excludes heavy plant, catering, portable sanitation, space accommodation, audio-visual equipment, event and specialist lifting gear, etc. and associated specialist outlets. Within the general tool equipment market, access equipment is on average the largest product sector typically accounting for around 13% of turnover. Drilling & breaking, plumbing & pumping, and lighting, welding & power, gardening and landscaping are also major product groups, each accounting for around 9% of hire turnover. |
| The range of customers for tool hire companies has expanded considerably over the past decade. Whereas builders, plumbers and general maintenance contractors have been the traditional customer base, demand from the DIY/home improvement, local government, industry, FM contractors etc. has grown significantly in recent years. In addition, there is a growing trend towards 'preferred supplier' agreements often operating on a national scale. |
| The growing trend to outsourcing, or outsourcing non-core company activities to external 'Facilities Management' companies, continues to benefit the tool hire market, with prime areas including 'infrastructure contracting' (especially water and sewage, and railway systems), and a wide and varied range of asset management activities, e.g. building maintenance. |
| PPP/PFI projects, including Health, Education, Home Office, Transport and Defence are all strong growth areas for the future, with major capital investment planned for the next 5 years. Also supporting growth prospects in the tool hire market is the continual media coverage of more adventurous and creative types of gardening/landscaping and home improvement. |
| Increasingly demanding Health and Safety standards, environmental, emissions and acoustic regulations tend to add value to the tool hire market. These trends are reflected in the growth of several niche sectors, such as materials handling, access, lifting, security, lighting, drilling etc., which are likely to underpin market growth in the medium term. |
Companies Mentioned
HSS, Speedy Hire plc, A-Plant, Hewden Stuart, Jewson, VP plc, Brandon Hire plc, Cox, Andrew Sykes, Travis Perkins, Cox Hire, Gap Group Ltd, Wolseley Hire Centres, Finning International Inc, Lord Hire Centes, Branson Tool Hire, Coastal Tool Hire, Parker Plant and Tool Hire, MF Hire, GEM Tol Hire, JP Hire Centres, Beaver Tool Hire, Ermin Plant Hire, Hartley Hire, Bradford's Building Supplies, Jacksons, Meyer International, Focus Group, Upright Genie, JLG, Manitou, Skyjack, Pinguely, Haulotte, Titan, Clow, Youngman, Upright UK, Euro Towers, Turner Access, Titan, Ally Tower Services, Giraffe Access Towers, Ability International, Interlink Alloy Systems, Aliscaff, RMD Kwikform, Mitie Generation, Zarges and Layher, Bosch, Dewalt, Makita, Universal Drilling, Rotabroach, Alta, Hilti, Atlas Copco, Ingersoll-Rand, Hilti, Stuart Turner, ITT, Hilta, Ingersoll Dresser, T-T Pumps, Godwin Pumps, Arctic Products, Rothenberger UK, Freeze Master, REMS, IBP, Dolmar, Shindaiwa, Norton Construction Products, DeWalt, Elecktra Beckum, Hitatchi, Ryobi, Fein, Plasplugs, Kwik Split, Matholite, Marcrist, Genset, Generac, HPL, Youngman, SGB Group plc, David Barto International, KES Power and Light, Firelight Systems, Briggs and Stratton, Lister, Petter, Caterpillar, Cummins, F.W. Wilson, Brook Thompson, Arc Gen, Harrington Generators, Power Equipment, Brook Thompson, Mosa, Stephill Generators, Ebac, Andrews Sykes, Broughton, Air Trembath, Dantherm, Broughton, De Longhi, Carrier, Heatbusters, Acna, Group Engineering, Rapid, Aggreko, Flymo, Bosch, Honda, Black & Decker, Tracmaster, Husqvarna/Partner, Jonsered, Stihl, Allen Power Equipment, Metabo, Hiretech, Alto, Remington, Hilti, Kranzle, Karcher, Bredon, Checo, Dema International, Kew Cleaning Systems, Climex, Numatic International, Marcrist, Belle Engineering, Benford, Wacker (GB) Ltd, Svedela (UK), Ammann Equipment, Errut International, Bomage, Norton, SPE, LGH, Tirfor, Genie Rako Products, Mace Industries, CNH, JCB, Caterpillar, Volvo, Takeuchi, Empteezee, Serco Group, Haden Building Services, Building and Property Group, Jarvis, Amey, GT Railway Maintenance, Balfour Beatty.
List of Contents
| 1 | INTRODUCTION |
| 2 | SUMMARY |
| 3 | ECONOMIC ENVIRONMENT |
| 3.1 | GDP |
| 3.2 | INFLATION & INTEREST RATES |
| 3.3 | UNEMPLOYMENT |
| 3.4 | HOUSEHOLD CONSUMPTION |
| 3.5 | HOUSING & CONSTRUCTION |
| 3.6 | STERLING |
| 3.7 | POPULATION PROFILE |
| 3.8 | CONCLUSIONS |
| 4 | THE TOOL HIRE MARKET |
| 4.1 | DEFINITION |
| 4.2 | MARKET STRUCTURE - PRODUCT SALES/TOOL HIRE |
| 4.3 | MARKET SIZE |
| 4.3.1 | Market Background |
| 4.3.2 | Future Prospects |
| 5 | TOOL HIRE COMPANIES |
| 5.1 | MARKET SHARES |
| 5.2 | MARKET SHARES |
| 5.3 | HIRE COMPANIES |
| 5.3.1 | National Hire Companies |
| 5.3.2 | Major Regional Companies |
| 5.3.3 | Builders and Plumbers Merchants |
| 5.3.4 | DIY Multiples |
| 5.4 | BUYING AND SPECIFICATION PROCESS |
| 5.4.1 | Buying Groups and Trade Bodies |
| 5.4.2 | Safety |
| 5.5 | PRICING AND REPLACEMENT CYCLES |
| 6 | PRODUCTS |
| 6.1 | PRODUCT MIX |
| 6.2 | PRODUCT TRENDS |
| 6.2.1 | Access Equipment |
| 6.2.2 | Drilling & Breaking |
| 6.2.3 | Plumbing and Pumping |
| 6.2.4 | Cutting & Grinding |
| 6.2.5 | Lighting, Welding, Power |
| 6.2.6 | Heating, Cooling & Drying |
| 6.2.7 | Gardening & Landscaping Equipment |
| 6.2.8 | Carpentry & Woodworking |
| 6.2.9 | Cleaning & Floor Preparation |
| 6.2.10 | Concreting & Compacting |
| 6.2.11 | Miscellaneous Product Groups |
| 7 | TOOL HIRE CUSTOMERS |
| 7.1 | INTRODUCTION |
| 7.2 | BUILDERS |
| 7.3 | PLUMBING ENTERPRISES |
| 7.4 | LOCAL AUTHORITIES AND PUBLIC BODIES |
| 7.5 | OTHER CONTRACTORS |
| 7.6 | MAINTENANCE OPERATIONS & CLEANING COMPANIES |
| 7.7 | CONSUMERS |
| 8 | FUTURE PROSPECTS |
Tables and Charts
| CHART 1 | UK TOOL HIRE MARKET 1997-2003 (£M) |
| CHART 2 | INTEREST RATES AND INFLATION (RPI) FROM 1990-2005 |
| CHART 3 | PDI & SAVINGS RATIO 1980-2005 |
| TABLE 4 | EXCHANGE RATE FLUCTUATIONS 1997-2004 - DOLLARS, AND THE ECU TO THE POUND STERLING, SPOT RATES |
| CHART 5 | AGE DISTRIBUTION OF THE RESIDENT UK POPULATION 2001 ('000) |
| CHART 6 | TOOL HIRE DISTRIBUTION STRUCTURE |
| TABLE 7 | UK TOOL HIRE MARKET 1995-2003 AT HIRE MARKET PRICES |
| CHART 8 | TOOL HIRE MARKET FORECAST 2003-2008 (£M) |
| CHART 9 | SHARES OF TOTAL HIRE OUTLETS - 2003 |
| TABLE 10 | BUILDERS MERCHANTS SHARE OF TOTAL HIRE OUTLETS 1999-2003 |
| CHART 11 | SHARES OF HIRE MARKET BY VALUE - 2003 |
| CHART 12 | SHARES OF HIRE MARKET BY VALUE - 1995 |
| TABLE 13 | MARKET SHARES OF LEADING COMPANIES BY VALUE 2003 |
| TABLE 14 | SPEEDY'S MARKET SHARE, UK TOOL HIRE MARKET, 1995-2002 |
| CHART 15 | MERCHANTS MARKET SHARES 2003 |
| CHART 16 | MIX OF MERCHANTS BY TYPE 2003 |
| TABLE 17 | ESTIMATED HIRE PRODUCT MIX 2003 £M AT HIRE MARKET VALUE |
| TABLE 18 | COMPARISON OF HIRE PRODUCT MIX - 2001-2003 BY VALUE |
| TABLE 19 | HIRE MARKET FOR ACCESS EQUIPMENT AT HIRE MARKET PRICES 2003 |
| TABLE 20 | HIRE MARKET FOR BREAKING & DRILLING AT HIRE MARKET PRICES 2003 (£M) |
| CHART 21 | HIRE MARKET FOR PLUMBING/PUMPING (AT 2003 HIRE MARKET PRICES) |
| CHART 22 | HIRE MARKET FOR CUTTING/GRINDING £M AT HIRE MARKET PRICES 2003 |
| TABLE 23 | HIRE MARKET FOR LIGHTING, WELDING & POWER AT HIRE MARKET PRICES 2003 |
| CHART 24 | HIRE MARKET FOR HEATING, DRYING & COOLING AT HIRE MARKET PRICES 2003 |
| TABLE 25 | HIRE MARKET FOR GARDENING AND LANDSCAPING EQUIPMENT £M AT HIRE MARKET PRICES 2003 |
| CHART 26 | HIRE MARKET FOR CARPENTRY & WOODWORKING AT HIRE MARKET PRICES 2003 |
| TABLE 27 | HIRE MARKET FOR CLEANING AND FLOOR PREPARATION AT HIRE MARKET PRICES 2003 |
| CHART 28 | HIRE MARKET FOR CONCRETING/COMPACTING AT HIRE MARKET PRICES 2003 (£M) |
| TABLE 29 | HIRE MARKET FOR MISCELLANEOUS PRODUCTS £M, AT HIRE MARKET PRICES 2003 |
| CHART 30 | UK VAT REGISTERED BUILDERS 2003 |
| CHART 31 | UK VAT REGISTERED PLUMBERS 2003 |
| CHART 32 | DIY CONSUMER/NON-DOMESTIC USERS FOR HIRE TOOLS & EQUIPMENT |
Text © 2004 AMA Research
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Last updated by Amanda Porteous 2004
