The American Rental Association calls for equipment and event rental revenues in North America to surpass $61.5 billion in 2019, including $55.8 billion in the U.S. and $5.7 billion in Canada, up 5.3 percent compared to 2018. Revenue is expected to reach $70.9 billion by 2022.
In the U.S., equipment and rental revenue is expected to grow another 4.8 percent in 2020, 5 percent in 2021, and 4.8 percent in 2022 to reach $64.4 billion.
“Rental operators are anticipating another good year but have remained disciplined around adding inventory. The effect of better fleet management is that minor fluctuations in the business cycle will not be overly disruptive to the rental industry,” John McClelland, VP for government affairs, said in a press release.
Real gross domestic product growth in the U.S. is expected to be 2.5 percent in 2019 compared to 2.9 percent in 2018, ARA says.
Source: ARA
