North American Equipment Rental Market $42 Billion Strong

The American Rental Association and Global Insight have teamed up again to present a "State of the Equipment Industry" report.  Here's a key quote that really supports the notion that this industry is on very solid footing regardless of the greater economy.

Global Insight forecasts a continued growth trend, projecting North American rental revenues to exceed $52 billion in 2012. According to the study, the U.S. rental market has had a compound annual growth rate of 7.9 percent, significantly outpacing overall economic activity. Although the study predicts continued growth, it expects the compound annual growth rate to slow to 4.1 percent in the years 2007 through 2012.

Even in leaner times, equipment rental is buoyed.

During times of reduced growth, one of the best things you can do is focus on driving efficiency from your operations.  The natural instinct is to pull back.  Perhaps it's a great idea to pull back on capital intensive projects, but investments made today will pay dividends when the industry and economy boom again.  Be proactive right now in getting more out of what you already have and get to the root cause of your troubling operational issues.  That way, when you're so busy you can't see straight, you'll be ahead of the competition.