ARA forecast projects greater rental industry growth than previously expected

The American Rental Association (ARA) indicates in its updated forecast that the United States equipment rental industry's growth will soften but still grow. Last quarter, the year-over-year growth was expected to be 4.7 percent in 2023 and 2.1 percent in 2024. The most current projections indicate 7.6 percent growth in 2023 totalling $60.4 billion in construction and general tool rental revenue. As for 2024, a 3.1 percent revenue increase is now expected.

machineryasia machineryasia
May 13, 2023 - 21:04
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ARA forecast projects greater rental industry growth than previously expected
The American Rental Association (ARA) indicates in its updated forecast that the United States equipment rental industry's growth will soften but still grow. Last quarter, the year-over-year growth was expected to be 4.7 percent in 2023 and 2.1 percent in 2024. The most current projections indicate 7.6 percent growth in 2023 totalling $60.4 billion in construction and general tool rental revenue. As for 2024, a 3.1 percent revenue increase is now expected.
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