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Rental revenue expected to reach $33.6 billion in 2013
Posted By Amanda Bayhi On May 21, 2013 @ 2:04 pm In Aggbeat Online,News | No Comments
[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.
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