December 1, 2023
Angela Nussel, CERP
The outlook for 2024 is continued growth for equipment and event rental operators in Arkansas, Louisiana, Oklahoma and Texas, according to American Rental Association (ARA) Region Four Director Angela Nussel, CERP, vice president, Premiere Events in Austin, Texas.
“I am optimistic that our industry will continue to see growth in the coming year. A contributor to our success is the growth in our states that you can see all around. The tools and insights through ARA communications and networking reflect positivity and the information we receive helps us predict trends and growth,” she says.
Nussel foresees the trends she has seen this past year continuing next year. “I have seen the growth in Texas and the northern part of Arkansas and it has been phenomenal. There are no signs of slowing down. There are a lot of new buildings, apartment complexes, housing and roads being built. I recently visited some rental stores in Arkansas. Equipment rental stores have been busy and continue to see positive increases in customer base and demand. On the event side, events have leveled out somewhat this year. We have exceeded pre-pandemic levels but not with the insanity that was 2022. This year felt a little more manageable and less chaotic. I am optimistic that we will not only sustain our 2023 numbers but continue that trajectory to 2024,” she says.
Her optimism doesn’t ignore possible economic challenges. “There is threat of a recession as well as rising interest rates and shipping rates. Everything is costing more. I think labor and supply chain issues will continue to be challenging next year. The supply chain has gotten much better, but it is still not what it was prior to the pandemic. The overall cost of doing business has increased, the presidential election is looming, which can create a feeling of unrest, and in most of our Region Four states there are expectations for a very cold and wet winter, which can mean busted pipes and tree limbs falling again. Even so, I think as a whole our industry is well-versed in adversity and challenges, so, ultimately, we will come through the economic impacts. I think we will continue to see an increase in demand and we will have to use our resources to continue to be able to supply our customers with what they want,” Nussel says.
It’s about being prepared and nimble enough to adapt to possible impacts — something rental operators have become very proficient at, she says.
