The hire firm invests heavily in forecasting workloads to predict contractor demand and direct its plant equipment and tool investment.

Speedy marketing director Steve Mcintyre, said: “In the last few years our forecasts have proved more accurate than most.

“We are now looking into the possibility of producing a commercially available forecast next year that will help contractors to predict upcoming trends.”

The firm has established advanced modeling systems based on a mix of historic and new data, which it uses to focus its capital spending.

Speedy can drill this down to regional and specific industry forecasts of workloads.

The move would be another step in the company’s development from a national hire firm to a broader services provider to contractors.

It already offers its customers training and consultancy on effective asset management, including its new Lean-Site service.

This focuses on taking the ‘fat’ out of day-to-day working processes, specifically around energy costs and logistics.

Its tough approach to ridding the industry of wasteful process has led Speedy to sign a £12m, three-year deal with Tesco whereby all contractors and subcontractors nationwide must source equipment only from Speedy.

David Graham, managing director of Speedy UK assets services, said: “For example one of our managers is now permanently located at the Tesco Woolwich building site  in London.

“He manages all subcontractors’ plant and equipment needs and makes sure everything is available when needed.”

Speedy will also now source specialist equipment from hire companies like Nationwide, Dixons and Elliott to provide a comprehensive service to contractors.

Graham added: “In many cases we are now our rivals biggest customers.”