The equipment rental industry is expected to set an industry record for revenues in 2015 according to the latest updated industry forecast from the American Rental Association (ARA).
The equipment rental industry is expected to set an industry record for revenues in 2015 according to the latest updated industry forecast from the American Rental Association (ARA), despite reduced demand for equipment in oil patch drilling sites.
The new quarterly ARA forecast from its "ARA Rental Market Monitor" subscription service has been modified slightly from February and the numbers remain positive with total revenue growth of 7.9 percent expected in 2015 to reach a record $38.5 billion in the U.S., including all three industry segments — construction/industrial, general tool, and party and event.
ARA’s current five-year forecast calls for steady growth of 7.2 percent in 2016, 8 percent in 2017, 7.9 percent in 2018 and 6.8 percent in 2019 to reach $51.3 billion.
Construction/industrial rental revenue is now forecast to increase 8.2 percent in 2015 to $25.9 billion, with general tool projected to grow 7.9 percent to $9.8 billion this year and party event to show a 4.7 percent increase to $2.7 billion.
site: ConstructionEquipment.com
