American Rental Association (ARA) equipment rental store owners and managers, as well as product suppliers to the industry, anticipate strong growth in 2015 after closing out a positive year in 2014.
In the January ARA Economic Survey, nearly 90 percent of those responding expect rental revenue to increase in 2015 over 2014, with more than 40 percent of respondents anticipating double-digit growth. Overall, more than 95 percent of survey respondents expect annual rental revenue to at least equal 2014 revenue.
This anticipated revenue growth means respondents are adding to their rental inventory to meet demand. Nearly 90 percent of survey respondents plan for equipment purchases to be equal to, or more than purchasing activity in 2014. More than 30 percent of respondents plan for double-digit growth in spending on new equipment.