CPA to reveal findings of UK rental report

Photo: CPA

The Construction Plant-hire Association (CPA) is to reveal the findings from its first fully comprehensive study of the UK’s plant-hire sector at its annual Conference this week.

The study, commissioned by the CPA and carried out by economic advisory firm Oxford Economics, will reveal the size and scope of the plant-hire sector in the UK. 

Chris Cassley, policy manager at the CPA, and Jamie Charles, lead economist at Oxford Economics, will give delegates an insight into the findings of the study during its ‘The Plant-hire Sector in 2024’ session this Thursday at the Heart of England Conference and Events Centre near Coventry.

Key findings of the Economic Impact of the UK Construction Plant-hire Sector includes that the construction plant-hire sector contributes £14 billion annually to the UK economy as well as 191,500 jobs.

The report states that for every £100 contributed to GDP directly by construction plant-hire, the sector supports a total of £218 around the economy, while construction plant-hire workers are 16% more productive than the average UK worker, with a higher share being company managers or directors

It says that for every 100 people directly employed by construction plant-hire, the sector supports a total of 216 jobs around the economy

The CPA said the report makes a “compelling read for both those employed in the sector, but also for policymakers and stakeholders” and will “put into perspective the breadth and scope of the sector and why it remains a key destination for highly skilled jobs and roles.”

Steve Mulholland, CPA Chief Executive Officer commented: “This research has been carried out over many months and we are excited to share the findings for the first time at the CPA Conference. While the report is an opportunity to showcase the plant-hire sector, it also acts as a chance to review the progress made over recent years and the contribution CPA members make to the wider UK economy.

“Over the last few years, plant-hire businesses have had to adapt and evolve in order to survive. As we look to the future, it is one full of opportunities, growth, new technologies and innovations. Decarbonisation and the move to a net zero economy has been at the forefront of policymakers’ plans – it is important that our sector plays its part in this process, as the move away from diesel and fossil fuels gathers pace. This, alongside the rise of AI and digitalisation, will all have a profound impact on plant-hire companies in the coming decades.

“The role of the CPA will also evolve as we meet these future challenges and opportunities, working hand in hand with our members in supporting them. This economic impact study helps set the foundations for moving forward for the CPA across every facet of our work and engagement and celebrating 90 years of supporting the UK’s construction plant-hire sector. It has only been possible because of the contribution our members have made to our continuing success,” he continued.

Copies of the CPA/Oxford Economics report ‘The Economic Impact of the UK Construction Plant-hire Sector’ are available on request at the CPA Conference.