Equipment Rental Industry Remains Resilient

By Erin Jorgensen Equipment rental revenue, comprised of the construction/industrial and general tool segments, is expected to grow by 7.1 percent in 2024 to reach a record total of nearly $76.6 billion, topping the nearly $71.5 billion recorded in 2023, according to the latest forecast released in early November by the American Rental Association (ARA). To better understand the economic factors leading to this forecast, Rental Management questioned Scott Hazelton, director, S&P Global Market Intelligence, the international forecasting firm that compiles data and analysis for the ARA forecast and ARA Rentalytics members-only subscription service as part of a research partnership with ARA. READ FULL STORY >>