ARA Projects Strong Equipment Rental Industry Growth Through 2019

The equipment rental industry revenue forecast for the next five years continues to appear upbeat, with growth rates exceeding 7 percent through at least 2018, according to the latest projections released by the American Rental Association.
Aug. 11, 2015
2 min read

The equipment rental industry revenue forecast for the next five years continues to appear upbeat, with growth rates exceeding 7 percent through at least 2018, according to the latest projections released by the American Rental Association. The U.S. rental industry remains on track to reach record revenue of $38.3 billion in 2015.

The recently updated forecast, based on data provided by IHS Economics, said the forecast remains strong despite slower demand for rental equipment from the mining, oil and gas sectors, as commercial and residential construction spending have picked up steam this year and are expected to grow faster during the next few years. ARA predicts total equipment rental revenue in 2015 for the U.S. will grow 7.3 percent, followed by 7.8 percent in 2016, 7.3 percent in 2017, 7.4 percent in 2018 and 6.5 percent in 2019 to reach $50.6 billion.

In Canada equipment rental revenue is forecast to increase 2.6 percent in 2015 to reach $4.04 billion. The growth rate is projected to increase 3.1 percent in 2016, 3.9 percent in 2017, 6.4 percent in 2018 and 4.5 percent in 2019 to reach $4.83 billion.

For the United States and Canada combined, total equipment rental revenue is forecast to be $43.3 billion in 2015, up 6.8 percent, reaching $56.6 billion by 2019.

“The equipment rental industry continues on an upward trajectory and is expected to show significantly strong growth through 2019,” said Christine Wehrman, ARA executive vice president and CEO. “Some specific market conditions may change, but rental companies are agile and can adapt their inventory and fleet to fit what the market demands.”

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.

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