Euro Rental “Worth €22 Billion”
20 March 2008
The European Rental Association (ERA) has valued Europe's equipment rental business at over €22 billion after canvassing its rental company members and manufacturers.
The figure was announced at ERA's second annual conference, which opened in Berlin on Tuesday 5 June. This is the ERA's preliminary attempt to value the market, and it has now engaged specialist consultants, Global Insight, to carry out a detailed study.
Gerard Deprez, president of ERA, told the more than 175 delegates to the convention that Europe's rental market was enjoying a period of high construction activity and that growth would likely be sustained, with “prospects looking bright until 2012.” Mr Deprez said that Europe's rental market grew by an estimated 8% last year and that “2007 will be better”.
The high attendance at the second convention – more delegates than at the first event in Brussels last year – was hailed by Mr Deprez as confirming ERA's arrival; “ERA has found its place in Europe right from the first year.” See the ERA pages in this issue for more.