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Equipment rental industry remains resilient

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).

Family pulls a rental rescue

The love of rental runs deep in the Jones family of Burton, Mich. When they saw their family equipment rental business falter after their father, Chester, sold it in the early 1980s, brothers Bruce and Larry joined him not only in resuming ownership but also in bringing the business back. That was 1984, and the business, Allied Rent-All/Allied Equipment Rental, has been thriving ever since.