A Positive Perspective On The Uncertain
The American Rental Association (ARA) hosted its first Webinar on June 11 in cooperation with Global Insight on economic updates to the 2007 State of the Equipment Rental Industry forecast. Those who have purchased the report had the opportunity to attend this free Webinar.
Although the U.S. economic outlook seems measured, the numbers revealed in the Webinar brought some optimism to the equipment rental industry. After several years of sizeable growth, U.S. construction revenues for 2008 and 2009 will be comparable to or above the levels experienced in 2005 and 2006. The same trend holds true for that of the U.S. general tool rental revenue.
There is much more encouraging news in the party and event industry segment. Total rental revenue in both the U.S. and Canada are expected to grow in 2008 and 2009, though, at a much slower pace than previous years.
“These economic tools that ARA has published, in collaboration with Global Insight, for the equipment rental industry serve a real purpose. The State of the Equipment Rental Industry report and the corresponding Webinars, provide timely information to help businesses understand the changing economics of our industry,” said Christine Wehrman, executive vice president and CEO of ARA.
The ARA will host a Webinar in late July to provide an economic update and to invite all ARA members to participate in the survey to gather statistical data for the 2008 State of the Equipment Rental Industry report. This session will be available to all ARA members. Additionally, for members who purchased the 2007 report, another Webinar focusing on the state of the economy is slated for October.
The State of the Equipment Rental Industry report, commissioned by ARA and RENTAL MANAGEMENT magazine is available to ARA members for US$695 and to prospective and non members for US$2,995. For copies please contact American Rental Association at 1900 19th Street, Moline, Ill., 61265 or by fax at (309)-764-1533 or telephone (800) 334-2177, ext 245.
About Global Insight, Inc. Global Insight, Lexington, Mass, (www.globalinsight.com) is the world’s largest economic forecasting and consulting firm, providing comprehensive, ongoing economic, financial and political coverage of countries, regions and industries available from any source. Global Insight uses a unique combination of expertise, models, data and software within a common analytical framework to support planning and decision making in more than 170 countries. Through the world’s first same-day analysis and risk assessment service, Global Insight provides immediate insightful analysis of market conditions and key events around the world, covering economic, political and operational factors.
About ARA: The American Rental Association (www.ARArental.org) is an international trade association for the owners of equipment rental businesses and the manufacturers and suppliers of construction/industrial, general tool, and party/event rental equipment. ARA members, which include more than 7,500 rental businesses and 1,100 manufacturers and suppliers, are located in every U.S. state, every Canadian province, and more than 30 countries worldwide. Now in its sixth decade of operation, ARA is the source for information, advocacy, business development tools, education and training, networking and marketplace opportunities for the rental equipment industry throughout the world. According to the ARA’s most recent State of the Equipment Rental Industry research study, the rental industry continues to grow with rental industry revenue in North America at approximately $42.3 billion annually.
