Diesel Progress reports on an updated second quarter forecast by the American Rental Association (ARA) in which it predicts higher revenue from rental equipment in 2021 than it originally forecast.
The ARA expects revenue to top $47.8 billion this year. That’s an almost 3.5 percent increase on 2020 – and higher than last quarter’s forecast of a 3.1 percent increase.
Looking further ahead, the ARA expects revenue to reach almost $52.5 billion in 2022, beating the industry’s previous peak of nearly $51 billion in 2019.
When the likely passage of the Infrastructure Investment and Jobs Act in the US is factored in writes Diesel Progress, revenue generated in 2022 and beyond could be even higher.
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