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RELEASED: AUGUST 2008
After researching the UK plant & tool hire market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2003-2007:
The UK plant and tool hire market increased by 7% to £5 billion in 2007, continuing the growth trend evident in recent years. Between 2003 and 2007, annual levels of growth fluctuated between 4% and 10%, culminating in an overall increase of 29%. Demand for plant and tool hire is closely linked to output levels in the overall construction industry as well as to civil engineering and repair & maintenance activity, thus the market follows a similar development to overall construction output.
MARKET FORECAST 2007-2011:
In 2012, the UK plant and tool hire market is expected to reach £5.26 billion (at 2007 prices), representing real term growth of 3% in the year and of 5% compared with 2007. Modest declines are projected in 2008 and 2009, reflecting the anticipated reduction in construction activity due to economic uncertainties. Projected growth towards the end of the forecast period is partially attributable to construction associated with the 2012 London Olympics.
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MBD specialises in business to business market research. The range of reports and industries in which we operate in 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 Plant & Tool Hire Market Research Report
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