Content Tagged: "economic forecasting"

The American Rental Association (ARA) has introduced a brand-new layer to its economic research and forecasting toolchest.

Equipment rental revenue, comprised of the construction/industrial and general tool segments, is expected to grow by 7.1 percent in 2024 to reach a record total of nearly $76.6 billion, topping the nearly $71.5 billion recorded in 2023, according to the latest forecast released in early November by the American Rental Association (ARA).

Many in the event rental industry entered 2023 with slight hesitation. While most had a successful 2022 and have been on the path to recovering from the impact of the pandemic, there were still workforce concerns and the threat of a recession among all of us. 

Scott Irwin, president, Delux Rental, Ypsilanti, Mich., has served as an American Rental Association (ARA) officer for the last three years, including president-elect in 2021, as ARA’s 60th president in 2022 and as board chair in 2023.

John Kennedy, CPA, president, ARA Insurance, Overland Park, Kan., a subsidiary of the American Rental Association (ARA), recently answered questions from Rental Management about the insurance industry, the growth of ARA Insurance and the outlook for 2024.

In its updated forecast in November 2023, the American Rental Association (ARA) indicates that the U.S. equipment rental industry’s growth will soften but still grow. 

Hello, American Rental Association (ARA) Region Seven members. I am Jeff Jackson, president of All Purpose Rental & Sales in Greeley, Colo. 

The American Rental Association (ARA) presented significant changes in its 2023 third quarter economic forecast, particularly for construction and industrial equipment (CIE) rental revenues. 

In its updated forecast, the American Rental Association (ARA) indicates that the U.S. equipment rental industry’s growth will soften but still grow.