The European rental market totaled €33.6 billion (about U.S. $42.5 billion) in 2008, according to a study commissioned by the European Rental Association and released last week.
“This achievement gives us a new vision of our industry and demonstrates ERA’s unique value to the rental industry both in Europe as well as globally,” said Michel Petitjean, ERA’s secretary general.
The report was produced by ERA with HIS Global Insight and contains a country-by-country analysis of 11 European countries, including market size information and key ratios including four types of penetration rates.
Of the €33.6 billion in volume, €24.4 billion comes from rental without operators and €9.2 billion with operators. Total volume decreased 2.8 percent from 2007 to 2008 and is expected to drop up to 11 percent from country to country in 2009.
In 2006, there were 36,400 companies active in rental, with less than 15,000 being rental companies that rented equipment without operators. Rental companies without operators represented 22,400 branches. The industry employed 117,700 in rental without operators and 59,800 in rental with operators. Average fleet age in 2008 was 3.8 years, ranging from 2.9 years for the lowest country to 5.7 years for the highest fleet age.
The 2008 report contains more than 60 pages of statistical information, including detailed results per country, four types of penetration (against equipment sales, equipment population, construction industry and country population); market forecasts for 2009; average fleet age per country and top five revenue-generating products.
The report is available to ERA members for €300 and to prospective and non-members for €900. For information contact [email protected].
