ARA forecasts rental growth

For the second quarter in a row, the American Rental Association (ARA) is projecting larger increases in revenue almost across the board for the equipment and event rental industry than it did in the previous five-year forecast released in May. The July 2018 forecast calls for total U.S. rental revenue of $53.04 billion in 2018, up 7.6 percent, and then growing 5.8 percent in 2019, 5.9 percent in 2020, 5.1 percent in 2021 and 4.7 percent in 2022 to reach $65.4 billion. The May forecast called for total U.S. rental revenue of $52.3 billion in 2018 growing to $64.1 billion in 2022. The out-years of the forecast could be subject to change due to the potential impact of tariffs on the economy and construction projects.