Rental revenue to exceed $71 billion

The American Rental Association (ARA) five-year forecast projects that equipment and event rental revenues in North America will surpass $71.7 billion in 2022, including $65.4 billion in the U.S. and $6.3 billion in Canada. The latest quarterly forecast again projects greater revenue gains than the previous forecast released in late May for each year from 2018 through 2022. In the U.S., equipment rental revenue is expected to finish 2018 at $53.04 billion, up 7.6 percent over 2017. Revenue is forecast to grow another 5.5 percent in 2019, 5.9 percent in 2020, 5.1 percent in 2021 and 4.7 percent in 2022. In Canada, rental revenue is forecast to grow 4.3 percent in 2018 to total $5.4 billion and then continue to expand.