Hungary moves forward
29 February 2008
Hungary's rental market is valued at a very modest €35 million by the European Rental Association (ERA), a figure that is, if anything, an overestimate according to Ákos Hajós (pictured), operations manager at Huntraco's Cat Rental Store division in the country.
However, Mr Hajós says the Hungarian rental sector is growing rapidly; “The last five years saw very fast growth - about five times - and my opinion is that the next five years will see the market grow two or three times bigger than it is now.”
There will be some bumps along the way. Last year, for example, saw a 40% reduction in construction growth compared to 2006, says Mr Hajós; “Government investment stopped in the middle of 2006, and the financial side [of rental] is very bad, with very slow payment times (90-180 days or more)”.
Huntraco plans to expand its operation as customer demand grows. Since establishing the rental business in 2001 it has opened two Cat Rental Stores and there are a further six Huntraco locations around the country. “We focus on two sectors: Cat earthmoving machines, and Genie aerial platforms.” The business also rents Ingersoll Rand compressors, Olympian generators and Selwood pumps.