Rental has stellar 2011, sees 7 percent growth this year
Marcia Gruver Doyle | February 8, 2012
The American Rental Association expects overall North American rental industry revenues to increase “at least” 7 percent in 2012 to total $33.5 billion, based on figures compiled by IHS Global Insight. This number reflects the total forecasted for ARA’s three segments — construction and industrial, general tool rental and party and event — in the United States and Canada.
While some rental operations expect this growth to come from increased demand as the construction industry recovers, ARA says the benefits of renting have been magnified in today’s marketplace, resulting in more rental customers. Many construction equipment companies, including United Rentals, say they are seeing a “secular shift” in North America as customers recognize the benefits of rental. More than 96 percent of those surveyed said they expected annual rental revenues this year to at least equal 2011, with 85 percent expecting an increase and more than 37 percent expecting double-digit revenue growth this year.
MORE FROM Economics
- Wrongly fired DOT employees return to work1577 Views
- Highway users, road builders oppose bill to surrender federal highway authority854 Views
- New use of carbon fiber grid in precast concrete piles733 Views
- Construction error and weather causes new pavement to crumble within hours564 Views
- Tolling becoming the solution of choice for most Americans486 Views