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RELEASED: JULY 2004
After researching the UK heavy plant leasing market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 1999-2003:
The UK market for heavy plant leasing declined year-on-year during the review period, contracting most significantly in 2000 and 2001. This partly reflected the difficult conditions in the UK engineering sector and the high value of the pound Sterling throughout much of the review period. However, the value of the pound Sterling has declined against the Euro in 2003. MBD also attribute year-on-year value decline to the ongoing competitive trading conditions under which UK companies operate in the manufacturing sector. In 2003, MBD estimate the value of the market to reach £3 032 million.
MARKET FORECAST 2004-2008:
MBD believe that the market for heavy plant leasing will demonstrate year-on-year decline throughout the period under review. The value reduction in 2004 is expected to reach 8%, although by the end of the forecast period this is expected to slow to just 3%. The trend towards a greater preponderance of hire purchase contracts also shows few signs of slowing, not least due to the increasing erosion of tax advantages for finance leases.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in is constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Heavy Plant Leasing Market Research Report
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