News story

AWP revenues will fall in ‘09

Thursday, 12 March 2009 ( #401 ) - Milnthorpe, United Kingdom
Revenues from aerial work platforms (AWPs) are tipped to fall by 10% in 2009, according to a report released at the ARA Rental Show.

The 2008 IPAF US Powered Access Rental Report 2008 indicates that revenues reached USD8.8 billion in 2007 but fell by 3% to USD8.5 billion in 2008. The International Powered Access Federation (IPAF) predicts revenues will continue to fall in 2009 to USD7.7 billion.

The IPAF US Powered Access Rental Report was made possible through co-operation between the American Rental Association (ARA), the IPAF and research consultant IHS Global Insight.

The report predicts that the current US recession should end by late 2009, with shifts in the industry as residential and non-residential construction spending switch roles.

The report says most of the major economic and construction spending indicators show markets stabilising in 2010 and then growing strongly after that.

IPAF expects the decrease of AWP rental revenues that will stem from the lower demand will not reduce the rental activity within the marketplace. The report says rental penetration rates will remain high and may increase because AWPs are used in a wide range of applications - not only construction, but also maintenance, seasonal work and trade/transportation applications.
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