In the U.S., revenue for the construction/industrial sector of the equipment rental industry is forecast to reach $26 billion in 2015, which is an increase of 8.5 percent over 2014's totals.
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A strengthened economy, growth in employment and lower gas prices at the pump spell favorable news for consumers as well as the equipment rental industry in the United States, according to the American Rental Association, an international trade association for owners of equipment rental businesses and the manufacturers and suppliers of
rental equipment.

Based on the findings of its ARA Rental Market Monitor™ subscription service, the organization forecasts equipment rental industry total revenues in the U.S. to reach $38.5 billion in 2015 – and increase of 8.1 percent. That total includes all three segments of the industry: construction/industrial, general tool, and party and event.

The largest increase, 8.5 percent, is predicted for the construction/industrial sector, with general tool projected to grow 8.3 percent and party/event to show only a 4.5 percent increase.

"The industry growth forecast remains more than double that of the overall economy," says Christine Wehrman, ARA's executive vice president and CEO. "While the news focuses on the energy sector of the economy, our industry is fortunate to have a balanced marketplace in which rental is in demand."

"The number of positive offsets in commercial construction, multifamily housing, healthcare and manufacturing help to counteract the drop in oil prices and contribute to the strong 2015 growth projections for the equipment rental industry," says Scott Hazelton, managing partner, IHS Inc., the company that compiles data for the ARA Rental Market Monitor.

The forecast for Canada calls for 3.7 percent growth in 2015 to $4.1 billion, with growth of 6.3 percent expected in 2016 to nearly $4.4 billion.