Gains for equipment rental industryDecember 12th, 2016 / By: IFAI / Category: Industry News, Industry News, News
A five-year forecast for the equipment rental industry released by the American Rental Association (ARA) remains positive. ARA projects equipment rental revenue to reach $55.5 billion in the U.S. in 2020. Numbers in the forecast reflect recent changes in the marketplace as the forecast calls for industry revenue to increase by 4.3 percent in 2016 to a record $47.3 billion, and to grow another 3.4 percent in 2017 to reach $49.0 billion. According to the ARA Rental Market Monitor, Canada experienced a 0.1 percent decline in equipment rental revenue in 2016, but is expected to rebound with 4.2 percent growth in 2017 to reach $5.1 billion, followed by growth rates of 4.0 percent in 2018, 4.3 percent in 2019 and 4.0 percent in 2020 to total $5.8 billion.