The UK access equipment market was estimated to have
grown by 7% in 2015, followed by further growth of 4% in 2016, according to a
new report released by AMA Research. Overall, powered and specialist access
equipment is estimated to account for around 57% of the market in 2015, with
non-powered access equipment accounting for the remainder. Following a stagnant
period, the market returned to growth in 2012, experiencing particularly sharp
growth in 2014, with slightly lower growth in 2015/16.
This growth was initially driven by an improvement in the
powered access equipment sector, although the non-powered sector also increased
in value in 2014, largely in response to higher output in housebuilding.
However, powered access equipment has continued to enjoy faster growth overall
than non-powered equipment, as safety considerations and the increasing range
and penetration of powered products in the low-level access sector continue to
erode the share of non-powered equipment.
The access equipment market is influenced by the relative
health of key end-use sectors, principally new build construction. In addition
to housebuilding, the key construction sectors that have contributed to growth
have included infrastructure, offices and industrial. Powered access and
non-powered access products compete for similar work and, within each separate
sector, products also compete directly, for example, access towers, scaffolding
and ladders.
The rental sector is a key purchaser of access equipment,
particularly in the MEWP sector, which represents the largest segment of the
overall market. This has been particularly relevant in recent years as hire
companies have sought to renew and expand their fleets in response to improving
economic prospects, along with growth in construction output.
Legislation on safe working at height, most notably the
‘Work at Height Regulations 2005’, continues to impact the UK market for access
equipment, driving demand for safer products. Tighter emissions regulations,
most recently the European Stage IV emission standards, which came into force
in 2014, have also added value to the market, as purchasers seek to replace
older products with compliant equipment, such as hybrid powered machines.
Within the powered access sector, MEWPs account for the
majority share, with an estimated share of around 50% in terms of value. In the
non-powered sector, aluminium dominates the ladders materials mix, but GRP has
gained market share and is increasingly seen as a mainstream product, not just
one for applications where non-conductive materials are necessary.
“Going forward, the
powered access equipment market is forecast to perform better than the
non-powered sector, particularly towards the latter part of the decade, as the
non-powered sector is more mature with less scope for product development” said Hayley
Thornley, Market Research Manager at AMA Research. “After a period of comparative price stability, some future price rises
are expected, also adding value to the market across the review period.”
Prospects for the construction industry continue to
appear positive, although lower growth rates are expected compared with 2015
and 2016. Growth in construction output will generate market opportunities for
access equipment, especially in the housebuilding and infrastructure sectors,
which are likely to be boosted by government measures. However, UK business
confidence remains fragile, and in addition, the access equipment market can
fluctuate, being influenced by fleet buying decisions in the relatively
volatile MEWP sector, leading to erratic levels of growth. From 2017, growth is
expected to continue at an average 3-4% a year until 2020.
The ‘Access
Equipment Market Report – UK 2016-2020 Analysis’ report is published by AMA
Research, a leading provider of market research and consultancy services with
over 25 years’ experience within the construction and home improvement markets.
The report is available now and can be ordered online at www.amaresearch.co.uk or by calling 01242 235724.
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