According to an American Rental Association (ARA) report, the equipment rental industry’s double-digit, post pandemic growth of the last few years is expected to moderate to a still healthy 3.4 percent in 2023. That is projected to be followed by growth of 2.9 percent in 2024, 3.3 percent in 2025 and 3.4 percent in 2026. Revenues are projected to grow from USD 55.8 billion to USD 63.4 billion over the forecast period.
As reported by Rental Management magazine, a number of factors should keep the equipment rental market healthy despite the possibility of the economy experiencing a recession during the forecast period. The impact of recently passed government infrastructure funding is expected to compensate for reduced housing and commercial construction activities keeping the overall industry growth forecast positive.
While growth will not be evenly distributed across specific equipment and event rental markets due to the shift in focus from residential and commercial construction to infrastructure projects, companies that adapt should continue to do well.
Executives at major North American lift manufacturers anticipate product demand to soften moderately in 2025.
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