Positive outlook for rental growth
Equipment rental store owners and managers, as well as product suppliers to the industry, continue to show optimism for growth for 2014.
In the January American Rental Association economic (ARA) survey, more than 85 percent of those responding expect rental revenue to increase in 2014 over 2013, with more than 40 percent of respondents anticipating double-digit growth. Overall, 97 percent of survey respondents expect annual rental revenue to at least equal 2013 revenue.
This anticipated revenue growth means respondents also are likely to add to their rental inventory to meet demand. Nearly 95 percent of survey respondents plan for equipment purchases to be equal to or more than purchasing activity in 2013. More than 25 percent of respondents plan for double-digit growth in spending on new equipment, which could be good news for exhibitors selling their products and services at The Rental Show 2014, scheduled for Feb. 9-12 at the Orange County Convention Center in Orlando, Fla.
In a separate survey, also conducted in January, nearly 97 percent of ARA associate member/equipment manufacturers said they expect increased sales into the rental channel in 2014 over 2013. More than 64 percent forecast double-digit growth.
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