The European Rental Association (ERA) has announced the publication of the ERA Market Report 2017.
The report finds the equipment rental market has experienced growth in all 15 countries included within the research this year. Furthermore, in the EU-28 and EFTA countries, the equipment rental industry in 2016 experienced a 3.1% year-on-year growth from 2015. The estimated growth for 2017 shows a 2.5% increase from 2016 and an increase of 2.8% is forecast for 2018 from 2017, both at a constant exchange rate.
The report also includes figures for GDP penetration, calculating turnover as a proportion of GDP. Average GDP penetration for the 15 countries in the report in 2016 was at 1.7‰, significantly above the remaining EU-28 and EFTA countries’ average penetration of 0.6‰.
The statistics provided show growth despite challenging economic circumstances, including elections in the US, France, Germany and the Netherlands, and the continued turbulence caused by the UK’s decision to leave the EU. The report notes that a more confident outlook across equipment rental companies is reflected in the development of investment programmes and enhanced service provisions, as the rental industry moves towards becoming a full-service provider. It also found that investment in rental equipment increased by 2.6% from 2016 to 2017.
Michel Petitjean, secretary general of the ERA, said, “It is certainly encouraging to see growth across the industry, despite 2017 proving an eventful year. We note that the industry is embracing, developing and maturing in its capabilities, with positive effect.”
“All the while, businesses across Europe increasingly acknowledge the advantages that rental can mean for their company - from providing a more efficient use of capital, access to a wider range of equipment, expert maintenance and service to compliance with regulations, and improved sustainability performance.”
The ERA Market Report 2017 contains a country-by-country analysis of 15 European countries, detailing market size actual (2014–15) and estimates (2016–17) in the local currency. It includes detailed market size information for the years 2014-2019 and key ratios including fleet size and investment. It also includes penetration rates against countries’ GDPs, construction outputs and populations.