MUNICH, Germany — Caterpillar chairman Glen Barton said the company will become the “undisputed worldwide leader” in rental services.

Merely a vision three years ago, the company's rental presence has spread internationally. In North America, Europe and Latin America alone, there are more than 600 dealer-owned Cat Rental Stores.

Speaking at BAUMA, the world's largest construction and earthmoving show, Barton also projected sales of $30 billion by the middle of the decade compared with sales of $20 billion in 2000. Caterpillar's electric power generation unit, currently growing at a compound annual rate of 20 percent, will continue to expand at that pace for the foreseeable future, he added.