Solid growth ahead for US rental market

By Joe Malone13 November 2017

The US rental market will reach US$59.3 billion (€50.86 billion) by 2021, growing at a compound annual growth rate (CAGR) of 4.7% over the next five years, according to the American Rental Association (ARA).

United rentals equipment

In its latest forecast, the ARA Market Monitor revealed forecasted growth of 4.5% in 2018, followed by growth of 5.5%, 4.9% and 4.1% for the three years after.

In Canada, equipment rental revenue also is expected to show consistent growth, reaching US$5.3 billion (€4.55 billion) in 2018 with growth rates of 4.1% in 2019, 5% in 2020 and 4.8% in 2021, to total US$6.11 billion (€5.24 billion).

John McClelland, ARA’s vice president for government affairs and chief economist, said, “This is a strong forecast, showing the equipment rental industry will continue to consistently grow over the next five years, without factoring in any possible impact from tax reform or infrastructure spending.

“People continue to realise the benefits of renting and how it can positively impact the bottom line. As a result, the equipment rental industry continues to outperform the general economy as well as the industries it serves.”

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access International Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
WernerCo provides new tower standards guide
Manufacturer provides free guide for EN1004-1 mobile towers standard, coming into force in November   
Interview: Zeppelin Rental on European access fleets
German rental group Zeppelin ventures across Europe
Cargotec warns of delays and price rises as orders boom
Overall 69% increase in orders driven by the Hiab division which makes hydraulic loader cranes and materials handling equipment
CONNECT WITH THE TEAM
Euan Youdale Editor, Access International Tel: +44 (0)1892 786 214 E-mail: euan.youdale@khl.com
Ollie Hodges Sales Manager Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
CONNECT WITH SOCIAL MEDIA