Rental companies will buy half of all construction machines across Europe within four years, Caterpillar has predicted.
Andy Zuckerman, Cat`s rental division manager for Europe, Africa and the Middle East, used Spain as an example, saying: “In 2003 rental accounted for just 8% of machines – today it’s 20% plus.”
To capitalise on the growth, Cat`s Rental Stores are increasing their stockholding to suit the local market and to ensure equipment is available when customers require it. “In the past we have concentrated in getting the signs up, now we want to fill one box before moving on to create another one,” Zuckerman said.
Cat Rental Stores are owned by the dealers, which are all independent of the manufacturer, in a similar fashion to the UK, where Cat`s dealer Finning owns Hewden. “We are a vertically integrated company and through our dealers we offer new and used equipment, and rental,” he said.
Zuckerman sees the UK as the model the rest of Europe will adopt and said: “I`ve never seen a more competitive area than the UK.” He said both Hewden and Cat Rental have strong brands and there is no thought of re-branding the UK hirer (a point reinforced by Hewden), although he was looking to explore synergies.
There are 600 Cat Rental Stores across Europe offering not only Cat machines, but also complementary products, such as access equipment, from other manufacturers. Zuckerman said there are plans to increase the number of Cat Rental outlets in central Europe and set up rental organisations in Norway, Sweden and the Netherlands through dealer Pon Equipment.
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