14.07.2025

IPAF rental reports

The International Powered Access Federation (IPAF) has published its 2025 aerial work platform rental market reports, which suggests slower growth across global markets in 2024.

The reports estimate the size of the aerial work platform rental fleet worldwide and include metrics such as rental revenue and rates, fleet size, utilisation rates, fleet mix, machine power sources, investment and annual retention period. The analysis covers rental markets across Europe, the United States, and Asia, and was conducted by Ducker Carlisle.

Last year, aerial work platform rental markets in both Europe and the US recorded revenue growth, though the pace of growth slowed compared to previous years.

European Market Performance

According to the survey, European rental market revenues increased three percent last year, reaching €3.5 billion. Fleet expansion was two percent, adding approximately 8,000 units. France's fleet remained flat, the UK contracted by two percent, while Italy and the Netherlands recorded slower growth.

Rental rates are said to have increased by one percent, with Nordic countries recording two to three percent increases, while Germany and France were lower. Average utilisation was 64 percent. Italy and the Nordics recorded utilisation growth, while other markets reported declines.

Fleet investment fell six percent in 2024 compared to the previous year.

US Market

The North American rental market is said to have improved one percent in terms of revenues. The total aerial work platform rental fleet is now estimated at around 857,000 units, with no net expansion recorded. Utilisation was reported as 71 percent. Rental rates improved one percent overall, as companies focused on utilisation and cash flow rather than price increases. Investment declined from 13 percent growth in 2023 to five percent in 2024, with companies prioritising fleet renewal and adopting more cautious approaches.

Asia

The Chinese aerial work platform rental market declined 19.6 percent in 2024 following several years of rapid expansion. Fleet growth slowed, while utilisation rates and rental rates declined. The market is said to have entered a correction phase due to oversupply, reduced demand, and competitive pressure, with rental companies facing lower margins and fewer projects.

The Indian market grew is reported to have increased by 32 percent, with a 24 percent growth in the national fleet while utilisation was four percent higher.

Saudi Arabia's rental market grew by 33 percent, with an 18 percent increase in fleet size. The growth coincides with construction projects including NEOM, Qiddiya, the Red Sea Project, and the Riyadh Metro.

IPAF chief executive and managing director Peter Douglas said: “The indicators, trends, and forecasts featured in these reports offer essential insights for anyone operating in the powered access market – not only rental companies, but also equipment manufacturers, suppliers, and investors. They provide the data needed to make informed decisions on investment planning, strategic growth, and overall business direction. Don't miss this opportunity to access the latest market intelligence in the powered access industry.”

IPAF manufacturer, supplier, distributor and rental company members can apply for a free copy of the report at www.ipaf.org/reports and non-members can purchase the report.