Reflecting on 2024: A Year of Growth and Challenges

As 2024 draws to a close, businesses across Australia are assessing their performance and comparing it to previous years. For Monitor, this year has been both encouraging and transformative.

“This year has been very positive and encouraging so far,” says Ben Joyce, CEO of Monitor. “Demand overall has been strong, and for access and tree care equipment, it has been even stronger than last year. After the roller coaster of COVID, we are back to business as usual.”

The Australian capital equipment market remains strong. With over 12 months having passed since the last interest rate hike, Australian businesses are once again focusing on investment, growth, and upgrading their equipment fleets. However, the picture across the Tasman Sea is quite different. “New Zealand has been in a technical recession, with construction and related industries experiencing significant dips,” he explains. “It’s a challenging market at the moment, but we’re confident it will recover over time.”

Navigating Peaks and Troughs in Demand

Domestically, Monitor faced fluctuations in demand due to changes in government subsidies. “The conclusion of capital equipment stimulus packages in June 2023 created a reset year for the industry,” says Ben. “However, we managed to sustain growth, thanks in large part to strategic acquisitions.”

One key growth initiative was the expansion of Monitor’s national footprint. The company opened new facilities in Caboolture, Queensland, and Perth, Western Australia. “Western Australia is an exciting market driven by the resources and mining industries,” Ben notes. “Investing in a larger facility with a workshop and parts warehouse has enhanced our ability to serve customers locally and efficiently.”

In Melbourne, Monitor also established a 2,000-square-metre site to support parts inventory, workshops, and equipment sales and rentals. These investments have strengthened Monitor’s presence across Australia, enabling the company to better meet customer needs in key regions.

 

Enhancing Service and Support

With the spider lift market maturing and tree care equipment industry demonstrating high competition, after-sales service has become a crucial differentiator. “Anyone can sell a machine but servicing it over the long term is where true value lies,” Ben emphasises. Monitor is doubling down on its service offerings, with a goal to double service revenues in the next two years.

The company maintains a $3.6 million spare parts inventory distributed between its Tamworth depot and five additional warehouses across the country. It has also introduced custom-built mobile service trailers, equipped to handle long-range work and challenging conditions. “These trailers are like mobile workshops, fully stocked and designed to support technicians in remote areas,” Ben explains.

Monitor is also expanding its service packages to provide customers with cost certainty. “We’re developing fixed-price service packages, including comprehensive five-year deals covering warranty and servicing. These plans make it easier for clients to manage costs while ensuring top-notch support,” he adds.

 

Introducing New Products

Product innovation has been a key driver of growth in 2024. Among the highlights is the launch of Monitor 54T, a spider lift with a remarkable 54-metre working height and horizontal outreach of up to 20 metres. “Industries like telecoms and power line construction are embracing this larger spider lift concept,” says Ben. “We’ve already sold our first unit, which will be delivered in early 2025.”

Another exciting addition to the tree care equipment lineup is a new range of large capacity Morbark wood chippers. These machines pack a punch and will land with Monitor in early 2025.

“Leguan Lifts have a couple of really good new models,” adds Ben. “Based off the success of the 225 they have released a revised version of the 190, called the 195. We have engineers in Finland this month to help them achieve the certifications we require in order to sell that product here. This means that the 195 should also hit Australia early next year. There is another exciting development from Leguan, which will be released to the market very soon!”

“These will be two stand-out new models and there are also plenty more from the other brands we represent.”

 

A Booming Rental Division

Monitor’s rental division also hit new highs in 2024, achieving record-breaking results in October. “We’re focused on long-term rental contracts, which often serve as a ‘try before you buy’ opportunity for customers,” Ben explains. “By providing hands-on demonstrations with our machines, we ensure customers fully understand their capabilities before committing to a purchase.”

The company’s wide range of rental models, sourced from four leading brands, has been instrumental in its success. “Our breadth of offering allows us to match customers with the right machine for their needs, delivering a tailored experience that sets us apart,” he adds.

 

Looking Ahead to 2025

As Monitor approaches 2025, the company is poised to build on its successes. Investments in service, innovation, and geographic expansion will remain central to its strategy.

“We’re excited about what lies ahead,” says Ben. “From new product launches to enhanced service packages, we’re committed to delivering exceptional value to our customers across Australia and beyond. As we celebrate nearly 30 years in business, our focus remains on supporting our clients and driving the industry forward.”