By Noah Crowley – Peer Executive Groups
This report focuses on the major micro and macro-economic lead indicators for equipment rental, the possible impact of the election, and some of the highlighted trends in equipment pricing as we end 2024.
Two of the major lead indicators for equipment rental are Residential and Non-Residential construction. Both are forecasted for a mild rise in 2025 (ITR Advisor, November 2024) and are currently sitting at 5.5% and 9.5% above their respective year-ago levels (ITR Advisor, November 2024). As a lead indicator, this projects a strong need for construction and construction equipment well into 2025. However, beware that there is softness in the financing of the industry found in rising delinquency rates on commercial real estate loans and rising rental vacancy rates (ITR Advisor, November 2024).