The American Rental Association (ARA) hosted its first Webinar in June 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 United States 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," says 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 $2995. For copies please contact American Rental Association at 1900 19th St., Moline, Ill., 61265 or by fax at 309-764-1533 or telephone 800-334-2177, ext 245.