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Canadian rental revenue to top $4 billion in 2013

counterJune 25, 2013 - In Canada, the equipment rental industry is forecast to generate nearly $4.6 billion in revenue in 2013, a 3.1 per cent increase, according to the American Rental Association’s latest forecast from the ARA Rental Market Monitor, updated in May. In total for North America, equipment rental revenues in 2013 are expected to reach $38.2 billion.


June 18, 2013
By American Rental Association

counterJune 25, 2013 – In Canada, the equipment rental industry is forecast to generate nearly $4.6
billion in revenue in 2013, a 3.1 per cent increase, according to the American Rental
Association’s
latest forecast from the ARA Rental Market Monitor, updated in
May. In total for North
America, equipment rental revenues in 2013 are expected to reach $38.2 billion.

By the end of the current five-year forecast in 2017, North American equipment
rental revenue is expected to surpass $50 billion to reach $51.6 billion, with
U.S. rental revenue at $46.3 billion and rental revenue in Canada at $5.3
billion.

The equipment rental industry in the United States is expected to
generate $33.6 billion in revenue in 2013,  This figure represents a 7.3 per cent increase over 2012, with revenue
growth reaching 7.9 per cent in the fourth quarter according to the latest
quarterly forecast.

In the U.S., the construction market and consumer spending are expected to be the
most important drivers of growth of the equipment rental market in 2013.

“The U.S.
equipment rental market is expected to continue its upward trajectory and show
significant growth through 2017. Strong growth in real residential construction
through 2015 will fuel the construction and industrial equipment segment, which
is projected to grow 9.8 per cent in 2014 and 11.8 per cent in 2015,” according
to the U.S. economic analysis from the ARA Rental Market Monitor.

“The industry continues to build customer demand, which drives the growth of
the equipment rental industry. Listening to ARA members from around the country
and looking at the forecast of IHS Global Insight, there is unlimited potential
for the equipment rental industry,” says Christine Wehrman, ARA’s executive
vice-president and CEO.

“Rental has grown during the anemic economic recovery through increased
penetration. As industrial and construction markets continue to improve, rental
will see further growth from a larger share of the equipment market, leading to
double-digit revenue gains by 2014,” says Scott Hazelton, a senior partner with
IHS Global insight, which compiles data and analyses for the ARA Rental Market
Monitor.

Related Link
www.ararental.org