UK rental rates down 35%
We recently published the results of our annual Rental Rate Guide for the UK and Ireland with the report showing that 35 percent of respondents cut rates on cranes, access platforms and telehandlers during the year.
Now in its 19th year, the results indicate another year of mixed fortunes, although the comments provided diverged at times with the comparative statistics for each sector. Some are more negative than the numbers suggest, while others are more optimistic than the results, which all goes to show that perception is more telling than numbers.
The feedback across the crane, access and telehandler sectors was fairly damming with only six percent of companies reporting any increase in rates. In contrast 35 percent said they were forced to lower rates while 59 percent managed to hold rates at similar levels to the previous year.
As is often the case, the respondent’s prognosis for 2020 was more promising with 37 percent of companies stating (or perhaps hoping) that rates will improve, while 57 percent expected them to stagnate, and just six percent anticipated further declines.
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Poor rental rates did not deter companies from adding to their fleets in 2019 however, with more than 50 percent of fleets expanding, 32 percent remaining the same and only 15 percent reducing them. 2020 also looks to build on this momentum with 53 percent planning to increase their fleets further and only three percent planning any cutbacks.
You can view the guide - complete with average rates and utilisation for each type and size of crane, aerial work platform and telehandler – for free, here: Cranes & Access Rental Rate Guide 2019
We would also like to take this moment to thank those that contributed to this year’s survey. Without your help and assistance it would not be possible. That being said, we are always looking for ways to improve it, and would welcome any comments or suggestions you might have: submit your feedback here