A report from the International Powered Access Federation (IPAF) shows that the rental market for mobile elevating work platforms (MEWPs) by 2%, with total revenue reaching 拢477m.
According to the analysis conducted for IPAF by Ducker Carlisle, UK rental rates remained flat in 2024, holding at 2023 levels, primarily due to intense competition 鈥� despite continued pressure from high interest rates and inflation. The average utilisation dropped slightly to 64% despite the reduction of the country鈥檚 MEWP fleet size.
In 2024, the market size, in unit terms, declined by 2%, with the total MEWP fleet estimated at around 60,000 units by year-end. In response to challenging market conditions 鈥� including inflation, slowing construction activity, and pressure on rental rates 鈥� most rental companies either reduced fleet sizes to boost operational efficiency or limited new purchases strictly to fleet renewals, as opposed to expansion. However, a few companies reported investing in niche equipment such as spider-type lifts and under-bridge units to diversify their offering.
The average fleet retention period increased by 12 months in 2024 鈥� the highest increase recorded since 2017. Most firms are keeping their machines for longer to offset rising equipment costs, investing in enhanced maintenance practices to extend machine lifespan and maximise return on investment.
Looking ahead, rental companies remain cautious, with a modest forecast of 拢490m in total market revenue by the end of 2026. In 2025, rental companies anticipate slight revenue growth due to improved utilisation based on an increase in construction activity and more targeted focus on the non-construction sector.
IPAF chief executive Peter Douglas said: 鈥淭he indicators, trends, and forecasts featured in these reports offer essential insights for anyone operating in the powered access market 鈥� 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.鈥�
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