By Sarah Webb – American Rental Association (ARA) The equipment rental industry is expected to see single digit increases over the next four years following two years of rapid post-pandemic revenue growth in 2021 and 2022, according to the latest American Rental Association (ARA) forecast released in early November. While the forecast calls for a slowing of rental revenue growth, it does not project negative growth. “There is variability in the forecast, depending on the end markets rental companies serve. However, nonresidential construction spending will be strong, and money continues to be spent from government stimulus programs, which both are positives for the rental industry,” said Tom Doyle, ARA vice president, association program development. “In addition, the supply chain is improving, which can help alleviate the backlog of equipment orders, allowing equipment rental companies to expand inventory to meet demand, which adds to the positive outlook for the industry in 2023 and beyond.” READ FULL ARTICLE>>
