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.
Related Articles
-
![]()
Lendlease targets Net Zero Carbon
Lendlease’s plans for European construction sites feature in The Construction Index.
Learn more -
![]()
Vehicle telematics
IoT Business News reports on active off-highway vehicle telematics systems.
Learn more -
CES 2021
OEM Off-Highway reports on advanced technologies used in heavy equipment.
Learn more -
![]()
New era for backhoe loaders
The popularity of backhoe loaders continues writes ConExpo-Con/Agg 365 News.
Learn more -
![]()
Fuel management
The Construction Index features hire chain Speedy’s investment in fuel management.
Learn more -
![]()
Equipment maintenance
ConExpo-Con/Agg 365 News reports on a United Rentals equipment maintenance webinar.
Learn more -
Switching to HVO
The Construction Index reports on T&M Bowser Solutions switching its tanker fleet to hydrotreated vegetable oil (HVO).
Learn more -
Bauma Date Change
Equipment World reports on next year's Bauma trade show in Germany being rescheduled to October 2022.
Learn more
