Anchored by an increase in U.S. construction spending, as well as a forecasted growth of the equipment rental industry, Volvo Rents is looking to grab a bigger piece of the construction equipment rental pie that is currently up for grabs. In so doing, the company has opened a new rental center in Scott City, MO.
The new store is Volvo Rents’ sixth in the state of Missouri – joining existing locations in Hollister, Kansas City, Springfield and St. Louis – and will service all of southeastern Missouri and certain areas in northern Kentucky and southwestern Illinois.
“While some sectors of the economy continue to slow, the construction industry has been flashing signs of improvement, as has the demand for construction equipment rental,” said Mike Crouch, vice president of business development for Volvo Rents. “This puts us in a very favorable position as we continue to expand our footprint in various markets across the country, including Missouri.”
According to the latest analysis of new federal data released by the Associated General Contractors of America, construction spending in the U.S. increased in June to the highest level in almost three years.
Meanwhile, the American Rental Association (ARA) reports that overall North American equipment rental industry revenue is expected to increase at least 6.9 percent in 2012 to total $33.5 billion at year end. The five-year forecast calls for continued annual growth in rental revenue to reach a total of $53.1 billion by 2016.
In addition to Volvo Rents’ expanding line of Volvo compact equipment – such as backhoe and skid steer loaders, compact wheel loaders, compact excavators and compaction equipment – the rental center carries a comprehensive line of essential equipment and tools for the construction, commercial, industrial and homeowner markets. The focus is on daily, weekly and monthly rentals.
“Our new store offers the best of both worlds,” said Volvo Rents’ Midwest Division Manager Dan Martino. “We have the ability to respond quickly to our customers’ needs, while having the global support of an equipment name you can trust and rely on.”