The equipment rental industry is a big deal, especially because so many businesses don’t have the cash on hand to buy. Equipment financing makes renting a pretty easy option, too.
The State Of The Industry
“The show was fairly small, but lots of good energy,” Schlegel said.
That makes sense, given RentalPulse’s look at the state of the industry right now:
The positive attitudes and outlook at the show this year mirrors the building momentum the equipment rental industry now has, as it outperformed the industries it serves in 2011 and forecasted revenue growth of 7 percent in 2012 is expected to more than triple the gross domestic product (GDP) forecast for the United States this year.
Schlegel notes that the consensus among attendees and presenters was that this was bound to be a good year for both equipment sales and the rental market, which has to be music to many ears. There’s also likely to be some changes in at least one market, according to Schlegel.
“Expect more consolidation of the construction equipment rental market in 2012 with the big merger of United Rentals and RSC being completed 4/12,” he said.
It also didn’t hurt that the show was held in New Orleans, a fun city if there ever was one. Schlegel said that it was, above all, a good time.
Joe’s experience was more or less in line with what others were seeing. Ted Cook, who chairs the American Rental Association, believes a quality 2011, good rental volume and increasing optimism are creating the perfect storm for the rental industry:
“This show has been real upbeat. The vendors were busy writing invoices. Exhibitors stepped up their game with great looking booths and attendees were very positive. Everyone networked like crazy and many of the seminars I attended were full. Everyone is on their ‘A’ game now,” said Ted Cook, Ventura Rental Center, Ventura, Calif., who is ARA’s new chairman of the board.
So things are definitely looking sunny. How do you feel about the rental industry?