American Rental Association (ARA) equipment rental store owners and managers, as well as product suppliers to the industry, continue to anticipate strong growth for 2015.
In the April ARA Economic Survey, more than 87 percent of those responding expect rental revenue to increase in 2015 over 2014, with 47 percent of respondents anticipating double-digit growth. Overall, 92 percent of survey respondents expect annual rental revenue to be at least equal 2014 revenue.
This anticipated revenue growth means respondents are adding to their rental inventory to meet demand. More than 86 percent of survey respondents plan for equipment purchases to be equal to or more than purchasing activity in 2014. More than 35 percent of respondents plan for double-digit growth in spending on new equipment.
In a separate survey, also conducted in April, nearly 95 percent of ARA associate member/equipment manufacturers said they expect increased sales to equal or exceed 2014 levels. More than 60 percent forecast double-digit growth.
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.
