2023 Rental Industry Forecast is Steady and Strong

Rental Editor Sarah Webb weighs in on the current state of the rental industry and what it means for the coming year.

Adobe Stock 515307857
adobe.stock.com - Urupong

I’m writing this on the eve of the 2023 American Rental Association (ARA) Show, and while the past few weeks have given me a taste of what products will be showcased there, I can’t wait to see what the trade show floor and education sessions have in store for me.  

This will be my first time attending the ARA Show, and I can imagine that much of what manufacturers and rental companies owners have to talk about will echo what people relayed to me in writing Rental’s annual State of the Industry Report.

Challenges over the past year have included a global supply chain crisis, labor shortages, high inflationary and pricing pressures and increasing regulations. And yet, overall, rental companies and manufacturers supporting the industry are optimistic about the year ahead.

Homeowners investing in their outdoor spaces meant more business from both landscape contractors and DIYers. New technology such as software, telematics, autonomation and battery-powered equipment have allowed rental companies to become more efficient despite the labor crisis. And while the supply chain situation was looking pretty sticky for a while, it seems as if the issues are cooling off as we begin 2023 and look forward to 2024.

You can find the rest of that story here. 

In addition to our State of the Industry report, this issue includes a variety of other useful content as well.

In our business management department, attendees of the ARA's Women in Rental event describe what the event entailed and the significance behind being women in a male-dominated rental industry. Our construction department lays out a few “must-haves” for rental companies regarding their skid-steer fleets. Our general tool section describes how rental companies can ensure handheld outdoor equipment is maintained and ready to go for contractors using it for spring cleanup purposes (p. xx). And as a bonus, our power department advises rental companies on how they can help their customers in sizing generators and compressors appropriately to applications

And, as always, and our columnist Dick Detmer offers up his two cents, this time on what rental companies can do to make sure their staff is fully educated ahead of the busy spring season.

What’s your take on how 2023 will pan out for the rental industry? I’d love to hear it—and I’m sure your fellow readers would too. Email your thoughts to [email protected] or connect with me on LinkedIn by following the QR code.