The new five-year forecast from the American Rental Association (ARA) updated in August calls for equipment and event rental revenues in North America to surpass $71 billion in 2023, including $64.7 billion in the United States and $6.4 billion in Canada. The latest forecast is ARA's first to project rental revenue for 2023. The current figures, which are updated quarterly, also project slightly less growth for 2019 through 2022 than what was forecast in May. "The market for the equipment and event rental industry remains positive, but there definitely are signs that the U.S. economic growth is slowing and this projected slowdown is reflected in our latest forecast," says John McClelland, Ph.D., ARA vice president for government affairs and chief economist.
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NTEA recently launched WorkTruckCert - An NTEA & Dec-O-Art Resource, a powerful, cloud-based program designed to streamline the completion and printing of certification labels. The new system will also archive vehicle records and help companies demonstrate conformance with NHTSA-required safety standards.