making life easier

Capitalising on our market position and opportunities

The rental markets gradually strengthened in Europe during 2015 as expected, although the situation varied considerably from market to market. Cramo’s harmonised business model and the implementation of our focused strategy make us well-positioned for opportunities in the market.

rental penetration and market size (2015E)

Cramo is one of the industry’s leading service providers of equipment rental services in Europe and the leader in the rental of modular space solutions in the Nordic countries.

Along with our strong market position, our unique brand, corporate culture and harmonised business model are strengths that enable us to capture the diverse opportunities in different European markets.

For example, we are the leading player in Sweden, the most advanced rental market in Europe by rental penetration. We have also succeeded in establishing a promising foothold in Germany, Europe’s third largest rental market by volume, with a much lower rental penetration level and a fragmented competition landscape.

Cramo is the leading modular space player in Northern Europe and has a strong market presence there. The growth potential for this non-cyclical business is very promising.

rental operators in the european equipment rental market
#1

player in modular space in the
Nordic countries

#2

in equipment rental in Europe

 

COMPETITIVE LANDSCAPE

Rental GROWTH ESTIMATE 20163

Finland

Two strong players with a number of local and specialist competitors. Modular space product area dominated by a few strong players. A few “in-house” competitors. Growth accelerating to 3.6% driven by new building construction, outperforming the overall economy.

Sweden

Two strong players with a number of local and specialist competitors. Modular space product area dominated by a few strong players. A few “in-house” competitors. Modest growth of 0.9% for rental, while continued favourable outlook for Swedish construction.

Norway

Several strong players with a number of local competitors. A few players in modular space product area. Rental market estimated to achieve growth of 2.3% after declining in 2015. Although total construction market expected to show positive trend in 2016, oil price decline will most likely have negative impact on market activity.

Denmark

Markets still fragmented, but consolidation ongoing. A few small players in modular space product area. Growth expected to accelerate to 2.6% from 1.4% in 2015 as a result of stable construction outlook.

Central Europe1

Fragmented markets under consolidation: four stronger players in Germany with a number of smaller local specialist competitors. Several local and international players in modular space product area. Stable growth of 1.8% in Germany, in line with trends in the overall economy and construction market. In Austria, rental market expected to grow by 3.1%.

Eastern Europe2

Mainly smaller national and local players with a few Western European competitors. Markets in early phase in modular space product area. Moderate growth in the Baltic region, solid growth of 1.8% in Poland and strong growth of 5–10% in the Czech Republic and Slovakia.
  1. Germany, Austria and Hungary transferred on 1 March 2013 to Fortrent, a joint venture owned and controlled 50/50 with Ramirent and consolidated under the equity method of accounting.
  2. ERA Equipment Rental Industry report 2015 (November 2015), for Eastern Europe Management estimates for countries in question.
  3. Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia and the Kaliningrad region of Russia. Cramo’s Russian operations, excluding Kaliningrad, were