Revenue growth for the equipment rental industry in the United States will continue to outperform the general economy in 2013. According to the latest American Rental Association (ARA) forecast from the ARA Rental Market Monitor updated last week, industry revenue will grow another 7.6 percent to reach $33.5 billion next year.
The forecasted growth rate for the equipment rental industry — including construction/industrial, general tool/homeowner and party/special event segments — is more than four times the expected 2013 growth in gross domestic product (GDP) in the United States.
This, however, is just the beginning. Equipment rental industry revenue is forecasted to grow even faster in 2014 and 2015 with total annual revenues surpassing $45.3 billion in the U.S. before the end of 2016.