Event rental revenue will increase in 2013

Projections from the American Rental Association’s (ARA) latest forecast from the ARA Rental Market Monitor™ show that the equipment rental industry in the U.S. continues to outpace gross domestic product by four times in 2013. Revenues will reach $33.5 billion, representing a 7.0 percent increase over 2012. Construction and industrial equipment rental is forecast to grow 8.1 percent, general tools by 5.4 percent and party and event rental 2.4 percent in 2013. In Canada, equipment rental will generate nearly $4.6 billion in revenue in 2013, a 2.8 percent increase. “Rental penetration continues its growth pattern, as the customer base relies on rental as a preferred business option,” says Christine Wehrman, ARA’s executive vice president and CEO. Read the report at the American Rental Association.