US Construction Equipment Rental Sales To Rise 12.5% In 2022


Despite varied and unclear economic data, the American Rental Association (ARA) predicts a considerable increase in equipment rental income in the United States this year.

According to the most recent quarterly update of its five-year prediction, rental revenue, including that from construction and general tools, would rise 11.2% to nearly reach $55.9 billion in 2022.

White Frame Corner
White Frame Corner

It is anticipated that growth of 6.2% in 2023, 2.5% in 2024, 3.3% in 2025, and 3.7% in 2026 will result in revenue of more than $65.1 billion.

The forecast said that the rental income for construction equipment will increase by 12.5% in 2022 to reach $41.6 billion before declining to 7% in 2023, 2% in 2024, 3% in 2025, and 3% in 2026.

Sales of general tools are expected to increase by 7.4% in 2022, then by steady rates of 5% in 2023, 3% in 2024, 5% in 2025, and 5% in 2026.

According to Tom Doyle, vice president for programme development at ARA, rental revenue is still expanding rapidly despite some difficulties in 2022.

White Frame Corner

Depending on how long high inflation, supply chain issues, labor shortages, and increasing interest rates endure, the remainder of 2022 and the outlook for 2023 may be impacted.

The ARA predicts 14.4% increase in 2022, $4.7 billion, 6% growth in 2023, 2% growth in 2024, 3.4% growth in 2025, and 3.3% growth in 2026 to approach $5.4 billion. This prediction includes income from construction and general tools.