ERA expects 2.6% rental growth in 2015

The European Rental Association (ERA) has issued new forecasts for growth in the region's equipment rental market, with a trimmed outlook for 2015.

According to the ERA’s new European Equipment Rental Industry 2014 Report, which was produced in co-operation with IHS Global Insight, the total size of the European equipment rental market in 2013 was €22.6 billion, representing a 1.4% decrease compared to 2012 at 2013 exchange rates.

However, at constant exchange rates (2012), the ERA said the 2013 figure represented an increase of 1%.

The forecast for 2014 was for year-on-year market growth of 2.8% to €23.3 billion at constant exchange rates. This forecast was unchanged compared to the ERA’s previous estimates, which were released in June.

However, the new forecast for 2015 was for a year-on-year increase of 2.6% to €23.9 billion at constant exchange rates. This was lower than the previous forecast of 3.6% growth.

“As with the overall economy, national rental markets across Europe remain quite heterogeneous. The picture shows huge differences among countries in 2013 with maximum growth in UK at almost 10%, and maximum decrease in Poland, at -19%,” the ERA said.

The report is available from the ERA - email on era@erarental.org for details.