After two years of rapid post-pandemic revenue growth in 2021 and 2022, the equipment rental industry is expected to settle into a steady pattern of single digit increases over the next four years according to the latest American Rental Association (ARA) forecast released in early November.

The equipment rental segment continued to grow significantly in 2022 as many of the same growth drivers and challenges that we faced coming into the year have continued or increased heading into 2023.

Two years or so after the impending pandemic first cast its threatening shadow and a year or so removed from the darkest days, American Rental Association (ARA) event segment members are holding our collective breaths.

Sarah Wilper, executive vice president, Taylor Rental Center, Manchester, Conn., and incoming American Rental Association (ARA) Region One director, has observed significant shifts in the industry’s dynamics across the northeast.

Equipment rental revenue, comprised of the construction/industrial and general tool segments, is expected to grow by 3.4 percent in 2023 to reach a record total of nearly $57.7 billion, topping the nearly $55.8 billion recorded in 2022, according to the latest forecast released in early November by the American Rental Association (ARA).