Posted on 22/03/2013 by Dave Irons
The UK could be on the verge of a four-year growth trend in tool hire recruitment, as the market for professional portable power tools returns to positive growth.
Figures from UK analyst AMA Research show that the professional portables industry has weathered the economic storm relatively well, at a fairly stable medium-term value of around £200 million per year.
This includes trade-standard tools that can be moved and operated by one man, with a broad range of tools for applications including drilling, grinding, driving and carpentry all covered by the category.
Although a small decline may be seen over the course of 2013, positive growth is forecast for the next four years, with likely associated growth in tool hire recruitment.
"Recovery in 2014 is forecast to be followed by continued growth to 2017, reaching an estimated market size of £223 million," the analyst reports.
Over half of all professional portable power tools are for drilling, driving and breaking, AMA Research's figures show, while roughly 25% of the market consists of each of cutting and grinding, and carpentry and woodwork.
Together, these subsections of the total market cover all of the applications tradesmen commonly require, giving the industry good prospects for growth as construction activity increases through until 2017 and beyond.
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