According to the 2007 State of the Equipment Rental Industry report by Global Insight, an economic forecasting firm for the American Rental Association (ARA), rental revenues for North America were estimated to have achieved $42.3 billion in revenues for 2007. Of the estimated $42.3 billion, the United States revenue accounted for $36.5 billion, up 6.7 percent from 2006. For the past decade, U.S. rental revenues have grown at a compounded annual rate of 7.9 percent. Canada is credited with $5.8 billion of the total $42.3 billion in revenues for North America in 2007.
Looking ahead, the ARA and Global Insight are predicting North American rental industry revenues to surpass $52 billion in 2012.
“While the long-term outlook for the U.S. rental industry through 2012 is still very positive, construction and industrial equipment as well as the general tool segment will suffer a slump of revenues in 2008 and 2009 as the nonresidential construction market slows. Party and event revenues will continue to grow over the next two years,” the report says.
The ARA uses a number of sources to compile this annual report. Data and key input are compiled from a customized survey of firms including ARA members and nonmembers specializing in equipment rental.
