Equipment Rental Industry On Course for Record Revenues
In the ARA's most recent quarterly update to its five-year forecast, the organization is calling for revenue growth in the U.S. of 5.6 percent this year and 4.9 percent in 2017 for the equipment rental industry. However, in a news release, the association said several factors pose potential risk, including unexpected government policy changes, oil price changes and more.
In December, 2015, the forecast projected equipment rental industry revenue growh of 6.7 percent in 2016 and 2017, 6.2 percent in 2018 and 5.8 percent in 2019.
“The adjustments in our forecast reflect changes in the outlook for the entire economy. The fact that the equipment rental industry continues to have revenue growth more than double that of the U.S. economy as a whole underscores the positive aspects of this latest forecast by IHS,” stated John McClelland, ARA vice president for government affairs and chief economist, in a news release from the group.
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.
