The UK transport equipment rental employment sector has experienced fluctuating growth rates over the past decade, with significant peaks and troughs. In 2023, employment stood at 8.74 thousand employees. Following an impressive growth period from 2016 to 2019, the sector saw a temporary decline in 2020. Yet, it has exhibited steady growth since then, culminating in a year-on-year increase of 5.36% in 2023. Forecasts indicate continuing growth, with the sector expected to reach 11.06 thousand employees by 2028, representing a CAGR of 3.69% over the next five years.
Future trends to watch for include:
- Increasing demand for sustainable and electric transport equipment.
- Advancements in automation and AI integration in the rental process.
- Impact of regulatory changes and environmental policies on the sector.
- Potential shifts in consumer behavior favoring rental over ownership.
