American Rental Association (ARA) equipment rental store owners and managers as well as product suppliers to the industry remain optimistic about growth in the remainder of 2012.
More than 83 percent of those responding to ARA’s October 2012 economic survey expect annual rental revenues to at least equal 2011 revenues. More than 70 percent expect rental revenue to increase over 2011, including 38 percent expecting double-digit growth.
The increase in rental revenue also translates into positive purchasing expectations. Overall, nearly 90 percent of those who participated in the survey expect to buy at least as much new rental equipment as they did in 2011. Nearly 70 percent of the respondents plan to make more new rental equipment purchases in 2012 over 2011, with more than 35 percent anticipating a double-digit increase.
More than 82 percent of ARA equipment manufacturers and suppliers responding to a separate survey in October expect sales into the rental channel to at least equal 2011. In addition, more than 64 percent of associate members who responded to the survey expect increased sales into the rental market.
Survey results for 2012 indicate an overall positive outlook for the rental market, which has been reflected in preparations for The Rental Show 2013 in Las Vegas. Floor space sold at a record pace and attendee registration is above 2012 figures.
The ARA economic surveys reflect a snapshot in time of those who responded and may not be representative of the industry as a whole. However, rental companies and suppliers/manufacturers can benchmark their businesses against these results.