Europe's rental industry will grow by an estimated 5.5% this year followed by slightly slower growth of 4% in 2012 and 3% in 2013, predicts the European Rental Association (ERA) in its latest European Equipment Rental Industry 2011 Report.
According to the report, which was written by consultant IHS Global Insight, European rental revenues decreased by 2.5% to €19.3 billion in 2010. This follows the previously reported 17.2% fall in 2009.
The report confirms that the rental industry has returned to growth, although likely to be dampened in the coming years by the Eurozone debt crisis.
Europe's strongest rental markets currently are Sweden, Finland, Norway, Germany and Poland. ERA has included Poland in its survey for the first time and predicts that rental revenues will grow by a spectacular 27.7% this year, up to €466 million from €365 million in 2010.
ERA considers non-operated plant and excludes crane rental from its figures.
The report provides detailed estimates of rental revenues in 12 European countries for 2010, and for the first time it has used European Union NACE industrial activity data, the region's most comprehensive source of information on industrial activity in Europe.
ERA said that the development of the rental market was not consistent country by country in 2010. For the majority of countries rental demand bottomed out around mid-year 2010, with Germany, Poland and the Nordic countries (except Denmark) achieving moderate growth.
Other markets remained flat. Spain and Denmark were the countries with the most severe market conditions with revenue losses above 15%. Rental turnover in the UK stabilised, shrinking by around -3.3%.
The previous ERA Europe report was published in April 2010. This year's report was delayed by 6 months to allow the use of the latest NACE data, meaning that ERA could provide detailed estimates for 2010.
ERA estimates that, according to 2008 official statistics, there were 13000 rental companies engaged in rental of equipment without an operator. These companies employed 112000 people and operated 21100 depots.
The European Equipment Rental Industry 2011 Report contains a country-by-country analysis of 12 European countries (Poland is added to previous 11 countries), and includes market size information and key ratios among which are fleet size and investment as well as penetration rates.
The report also contains forecasts for years 2012 and 2013 per country.
The report contains over 60 pages of statistical information with expanded details per country. Each country contains four pages of detailed information in local currency in order to better measure the trends, independently from the variation of the currency exchange rate against the Euro.
The report, commissioned by ERA is available to ERA members for €300 and to prospective and non-members for €900.
For copies, contact the European Rental Association at Avenue Jules Bordet 142, 1140 Brussels, Belgium or by E-mail on firstname.lastname@example.org.