News Articles

Rental Revenue Expected to Grow Steadily Through 2019

The equipment rental industry stands poised to set an industry record for revenues in 2015 according to the latest industry forecast from the American Rental Association (ARA), despite reduced demand for equipment in oil patch drilling sites.

Rental companies historically are able to adapt to changing market conditions, shifting inventory and moving equipment to where demand is greater. Today is no exception. Lower oil prices may be reducing the opening of new drilling sites, but they are also leading consumers to spend more, and are fueling increased activity in the rental industry’s construction and party/event market segments.

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March 27, 2015

There was a reason for all of the aerial work platform (AWP) action at the recent American Rental Association (ARA) show, which saw several manufacturers introducing new booms and scissors—and for once it wasn’t all about Tier 4.

It’s the market. A healthy market means new and upgraded models from manufacturers and better choices for fleets.

“We certainly have seen the market come back versus 2009 and 2010,” says Chad Hislop, director of product management for Genie. “We saw some years of really good growth, and now I would say it’s more at a normal rate of growth; not explosive. Still, I’d characterize it as ‘good.’”

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US rental penetration increases

New data from the American Rental Association (ARA) has revealed that construction and industrial rental penetration – the proportion of the total fleet of construction machines that are owned by equipment rental companies – reached 53.9% last year.

This compared to penetration of 52.9% in 2013, according to the ARA Rental Penetration Index.

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