Worldwide rental revenues increase 6 percent
Global Rental Alliance countries represent nearly $97 billion in combined rental revenue.
The Global Rental Alliance (GRA) recently held its 16th annual meeting at The Rental Show 2018 convention in New Orleans.
As part of the meeting, GRA welcomed back the Brazilian Rental Association (ANALOC) as a member, joining the Canadian Rental Association (CRA); European Rental Association (ERA), Belgium; Hire Association Europe (HAE), United Kingdom; Hire Industry Association of New Zealand (HIANZ); Hire and Rental Industry Association Ltd. (HRIA), Australia; Japan Construction Rental Association (JCRA), Japan; and American Rental Association (ARA), U.S.
“The Global Rental Alliance allows industry and association representatives from around the world to discuss common issues that impact rental/hire operators and share solutions that are having a positive impact,” says Tony Conant, ARA CEO. “We are always looking to add global members who are interested in sharing their geography’s industry data and advancing the rental industry.”
The meeting agenda included the latest review of the global survey initiative of the GRA, which estimates fiscal year 2016 combined rental revenue among the GRA associations of US$96.96 billion. This figure represents a 6 percent increase over 2015 rental revenues, as calculated by IHS Markit on behalf of the group.
The GRA members also agreed to start projecting the recent year’s rental revenue and other key figures at their summer meeting and will publish preliminary 2017 figures in August.
Discussion was held among the associations on the economic forecast for their countries through 2018 and it appears that the economies of all GRA members are healthy and that operators expect a very good year.
Priorities and member initiatives of the associations were shared for the benefit of the group, as well as trends and industry developments. Among the topics discussed were global technology trends and workforce development issues, including the promotion of women and minorities in rental and efforts to engage young professionals.
Technology is the one area that cuts across industry segments, geographies and cultures to improve business performance. It has improved safety, operational efficiency and the customer experience, and technology will continue to reshape the industry. The GRA is looking to add technology to its standing discussion agenda and will add a special segment to next year’s program in Anaheim, Caliornia.
The group discussed its objectives for 2018-2019, as well as conference dates and schedules for their respective associations. These dates are available on the GRA website, GlobalRentalAlliance.com.
A midyear webinar meeting for GRA will be held and is planned for August 2018. The next annual meeting will be at The Rental Show 2019 in Anaheim.
The purpose of the Global Rental Alliance is to increase the profile of equipment rental/hire worldwide. It is a partnership of rental associations from around the developed world that meets semi-annually and shares information on program initiatives throughout the year.
The unity of this group has brought about an increased awareness of overall priorities internationally, adding to the strategic outlook and resources of each rental member association.
About the Global Rental Alliance
The Global Rental Alliance consists of eight independent equipment rental/hire trade associations that have joined together to increase the understanding and concept of equipment rental worldwide. They are: The Brazilian Rental Association (ANALOC); Canadian Rental Association (CRA); European Rental Association (ERA); Hire Association Europe, U.K. (HAE); Hire and Rental Industry Association Ltd., Australia (HRIA); Hire Industry Association of New Zealand (HIANZ); Japan Construction Rental Association (JCRA) and American Rental Association (ARA).
Each organization has as its members, businesses that rent equipment to the general public and suppliers or manufacturers that provide equipment or services to rental businesses. While rental inventories differ somewhat within each country, they essentially include equipment rented to the construction, homeowner and special event/party industries.
For more information about the Global Rental Alliance or the International Rental Business Leadership program reference the Alliance website at GlobalRentalAlliance.com.
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
