Construction Equipment Rentals to Boom

MOLINE, IL—The unusually cold weather over the past few months may have squelched first-quarter GDP growth in the US, but total equipment rental revenue growth in North America made a 6% gain in the first quarter of 2014, according to data just published in the American Rental Association’s ARA Rental Market Monitor™.

The solid numbers for the quarter continues what had been a strong year in the sector. The Moline, IL-based trade association said overall North American rentals totaled $38 billion last year, with US renters of construction and industrial equipment accounting for $22.3 billion, a year-over-year growth rate in that sector of 7.3%. And the association projects that overall North American rental revenues will grow 7.5% and hit $40.8 billion in 2014 and 10.4% in 2015 to reach $45 billion.