U.S. equipment rental industry grows

The U.S. equipment rental industry is expected to grow 7.6 percent in 2014 to generate $35.8 billion in revenue and outpace gross domestic product (GDP) by more than four times, according to the American Rental Association’s (ARA) latest forecast from the ARA Rental Market Monitor™. Total equipment rental revenue is forecasted to grow 10.5 percent in 2015 to reach $39.6 billion and another 10.2 percent in 2016 to reach $43.6 billion, surpassing the previous industry record of $36.9 billion in 2007. The growth rate is expected to be 8.9 percent in 2017 and 7.7 percent in 2018, with total rental revenue of $51.2 billion. Economic data and analysis for ARA Rental Market Monitor are compiled by IHS Inc. (NYSE: IHS), a provider of diverse global market and economic information.