The International Powered Access Federation (IPAF) has published its 2025 Rental Market Reports, featuring insight into the MEWP rental markets across Europe, the US and Asia. 

According to the IPAF analysis, which was conducted by Ducker Carlisle, the MEWP rental market contracted by 2%, with total revenue reaching £477 million. In response to reduced activity in the construction sector, several companies have intensified their focus on non-construction applications.

Rental rates remained flat in 2024, holding at 2023 levels, primarily due to intense competition, and despite continued pressure from high interest rates and inflation. The average utilisation dropped slightly to 64% despite the reduction of the country’s MEWP fleet size.

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In 2024, the market size in unit terms declined by 2%, with the total MEWP fleet estimated at around 60,000 units by year-end. In response to challenging market conditions – including inflation, slowing construction activity and pressure on rental rates – most rental companies either reduced fleet sizes to boost operational efficiency or limited new purchases strictly to fleet renewals.

However, a few companies reported investing in niche equipment such as spider-type lifts and under-bridge units to diversify their offering and boost revenue.

The average fleet retention period increased by 12 months in 2024 – the highest increase recorded since 2017. Most firms are retaining their machines longer to offset rising equipment costs, investing in enhanced maintenance practices to extend machine lifespan and maximise return on investment.

Looking ahead, rental companies remain cautious, with a modest forecast of £490 million in total market revenue by the end of 2026. In 2025, rental companies anticipate slight revenue growth due to improved utilisation based on an increase in construction activity and more targeted focus on the non-construction sector. 

“The indicators, trends and forecasts featured in these reports offer essential insights for anyone operating in the powered access market – not only rental companies, but also equipment manufacturers, suppliers, and investors," said IPAF MD and CEO Peter Douglas. "They provide the data needed to make informed decisions on investment planning, strategic growth, and overall business direction. Don't miss this opportunity to access the latest market intelligence in the powered access industry.” 

A more fulsome summary of the European, US and Asian MEWP markets is availlable at 2025 IPAF Rental Market Reports.