The updated third quarter forecast released by the American Rental Association (ARA) at The ARA Show 2021 in Las Vegas, shows equipment rental revenue to exceed $47.6 billion in 2021, a 3% increase over 2020. The outlook for equipment rental revenue, comprised of the construction/industrial and general tool segments, remains positive for 2021 and beyond. The updated third-quarter forecast released by the American Rental Association (ARA) at The ARA Show 2021 in Las Vegas, shows equipment rental revenue to exceed $47.6 billion in 2021, a 3% increase over 2020. While that number is slightly less than the second quarter forecast, 2022 revenue now is expected to grow at a 9.9% clip to reach $52.4 billion, which will be a record for the equipment rental industry, topping the $50.9 billion recorded in 2019. The forecast also calls for equipment revenue increases of 5.5% in 2023, 2.5% in 2024 and 3.3% in 2025 to reach $58.6 billion. READ FULL ARTICLE>>
