American Rental Association (ARA) equipment rental store owners and managers as well as product suppliers responding to the latest ARA economic survey reported very strong growth throughout 2012 and continued optimism for additional growth in 2013.
Preparations for The Rental Show 2013 in Las Vegas have mirrored the optimism reflected in these most recent survey results. Floor space sold at a record pace and attendee registration is well above figures for previous years.
More than 96 percent of ARA member rental store owners and managers responding to the survey expect annual rental revenues in 2013 to at least equal 2012 with 85 percent expecting an increase in rental revenue and nearly 36 percent expecting double-digit revenue growth this year.
The anticipated increase in rental revenue also translates into positive purchasing expectations. Overall, 89 percent of the respondents expect to buy at least as much new rental equipment as they did in 2012. More than 67 percent of survey respondents expect annual new rental equipment purchases in 2013 to increase over 2012 with more than 31 percent expecting double-digit increases in spending on new equipment.
In a separate survey for ARA associate members, also conducted in January 2013, 92 percent of respondents said they expect increased sales into the rental channel in 2013, with more than 60 percent forecasting double-digit growth. Overall, 100 percent of those responding to the survey expect sales into the rental market to at least equal 2012.
The ARA economic surveys reflect a snapshot in time of those who responded and may not be representative of the industry as a whole. However, rental companies and suppliers/manufacturers can benchmark their businesses against these results