February 22, 2021
After a challenging 2020, the American Rental Association says the rental industry will see positive growth this year.
United Rentals
The American Rental Association has upped its 2021 rental forecast, moving from a 0.3% increase projected in November to a 1.5% increase, with rental revenues expected to surpass $50.2 billion.
This is good news, especially as ARA says total industry revenues dropped 11.7% in 2020 to just under $49.5 billion. Much of this was felt on the party and event side, which saw a decline of 49%.
ARA says construction rental saw an 11% decline in 2020 and is expected to see a 1% drop this year.
General tool rental revenue is expected to grow 4 percent.