ARA Rental Spending Forecast Outlook Remains Positive for 2021, 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. 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>>