In new survey results released by the American Rental Association (ARA) during the week of May 31, ARA members say it may take most of the next year to get their rental revenues back to pre-coronavirus (COVID-19) pandemic levels.
The average time given for equipment rental to return to its pre-pandemic revenue is six months. The average time until rental companies believe their purchasing will return to or exceed pre-pandemic levels is around eight months.
This long-term outlook is bolstered by some signs that recovery is beginning. For equipment rental, nearly 50% say their revenue has increased or they’ve already returned to pre-pandemic revenue levels since social distancing requirements were relaxed. Revenue has only decreased less than 7% since these requirements were relaxed.
To view the full survey results, click here for equipment rental.