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targeting European markets, despite the fact that the markets in these countries are well providedf or by locals uppliersA. ppendixT wo reviewst he performanceo f the top ten tool and equipmenht irersi n the UK. In ordert o divestr isk and buildl ongt erm stabifitym, any majort ool hirec ompaniesh ave expandedo r are beginningto expandi ntoe quipmenth ire.O rganisationhsa vea lso recognisedth e potentiafl or expansioni nto non-constructiomn arkets,s uch as utilities and industriaal nd petrochemicailn dustriesT. he trend is towardsc onsolidationg, roMh througha cquisitiona nd the targetingo f core sectors. To be successfuiln the UK hire market,o rganisationsh avet o be vigilantb oth to the changingd ynamicst hata re occurringin today'sm arketa nd to the challengeso f the future.A s globalisatiocno ntinuest,h e sectori s seeingi ncreasingle velso f consolidation acrossa wide rangeo f industrys ectors.T he industryi s demandingt hat chosenp artners are able to provideq uality,c onsistencya nd added value to achieve" preferreds upplier" status. Diagram 5: UK Hire Market - Competitor Landscape ; VP tiroup Speedy Hire has a diffororrtiateC $osition in ths Ui( rrlarkrll Br*ndoniWolerley Hire i'! D{ lurnover doriving frsm conlra*lar and naiinnal rrccount aujlgmers Butrhlc 5ho feD ro.r nnls r ol .1livc Iur novg I iUK only) Annt,ol account$, compafry websiles Stfalton "Top 100 tool hirtt 2007" frlarragonr*nl E il ima tB Aggroko UK spondlng only SourceS: peedyH ire Page 14 Profile of the Construction and Engineering Industry The demandf or hireo f plant,t oolsa nd equipmentis closelyl inkedt o the fortuneso f the constructioann d engineeringin dustryw hichi t servicesA. lthoughd emandw ithint he two sectors is not directly related, groMh or decline in trade within the plant and tool hire industryc loselym irrorst he economicf ortuneso f the constructiona nd civile ngineering sector.D uringp eriodso f slumpa nd recessiont,h e trendi s towardso utsourcingp lant needst o hire companiesi n preferenceto purchasingc apitale quipment.I n periodso f boom and economicg rowth,o rganisationss tillt end to steera way from purchasingc apital equipment,p referringin steadt o enteri nto long-termh ire agreementsa t preferential rates.T herefore,g rowtho r declinei n the constructionin dustryi s reflectedi n an increase or decreasei n demandf or the hireo f plant,t oolsa nd equipmentA. ppendicesT hreea nd Four illustrateth e contributionm ade by the constructionin dustryt o the Gross Domestic Producto f individuacl ountriesi n 2006,c ontrastedw ith figuresf or 2003 (or earlieri f figures for 2003 are not available). The followingi nformationc omes from Datamonitor'sa nalysiso f the industryw orldwide, includingc ivile ngineeringc ompaniesa nd larges calec ontractorsb, ute xcluding |
