Rental revenue expected to reach $33.6 billion in 2013
[Update: The original report stated that total revenue in 2013 is expected to grow 7.9 percent over 2012. That has been changed to 7.3 percent to reflect the correct figure.]
The United States’ equipment rental industry is expected to generate $33.6 billion in revenue in 2013, according to an updated forecast from the American Rental Association (ARA).
The forecast, the ARA Rental Market Monitor, predicts revenue growth will reach 7.9 percent in the fourth quarter. Total rental revenue in 2013 is expected to be 7.3 percent higher than in 2012, and the rental market is expected to continue to show significant growth through 2017.
Real residential construction is expected to show strong growth through 2015. This growth should fuel the construction and industrial equipment segment, which is projected to grow 9.8 percent in 2014 and 11.8 percent in 2015.
ARA has forecast Canada’s equipment rental industry to generate nearly $4.6 billion in revenue in 2013–a 3.1 percent increase over 2012.
Total North American equipment rental revenues in 2013 are projected to reach $38.2 billion.
By the end of 2017, North American equipment rental revenue is expected to reach $51.6 billion, with U.S. rental revenue at $46.3 billion and Canada’s at $5.3 billion.
From our partners
Developing a solid relationship with Demolition Technologies Specialized Services enables Crushing Tigers and Sandvik Construction to impact the demolition and…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- U.S. Concrete purchases a New Jersey aggregate operation388 Views
- Southwest Rock Products' Queen Creek plant wins Top Operations contest358 Views
- Thieves derail train in Mexico to steal 70 tons of cement338 Views
- MSHA gives out $8.4 million to 47 states for mine safety and health training333 Views
- Four contractors compete for $1.1 billion I-285/GA 400 interchange project in Atlanta289 Views