Growth continues for European rental

20 October 2016

Evidence from the 15 European countries researched for the 2016 European Rental Association (ERA) Market Report points to 2.8% rental market growth this year.

The report said the European rental industry as a whole was continuing to grow and, after adjustments from national statistical agencies in both Germany and France, that Germany became the second-largest rental market in Europe since 2014, overtaking France. The UK remains the largest rental market in the region.

The European Equipment Rental Industry in 2015 saw year-on-year growth of 2% on average for the 15 countries researched, according to the report, which forecast average growth of 2.8% in 2016, and 1.9% for 2017, for the same group of countries.

The report also includes figures for GDP penetration, calculating rental turnover as a proportion of GDP. It said average GDP penetration in the 15 countries study was 1.71% in 2015.

ERA Secretary General Michel Petitjean said, “At the ERA we see a growing recognition for the advantages that renting brings to businesses. These include more efficient use of capital, access to a wider range of equipment, expert maintenance and servicing, compliance with regulations, and improved sustainability performance.

“Intensively used, carefully chosen and well-maintained equipment on demand can bring real benefits to companies across the continent. The ERA Market Report is a strategic publication, which holds inherent value and insight for anyone appraising the market – and the ERA is committed to its continued development.

“For the core study of the report, both data sourcing and market sizing will continue to evolve and improve, alongside sustained respect for consistent definitions and methodologies.

“For the country focuses, the ERA Statistics Committee is currently evaluating, with the assistance of IHS Markit, the possibility of substantially improving the reliability of breakdown analyses, although the methodology will still differ considerably from the core study. These advances will help to ensure the report remains the preeminent insight study of its kind well into the future.”

The ERA Market Report 2016 contains a country-by-country analysis of 15 European countries. It includes detailed market size information for the years 2013-2018 and key ratios including fleet size and investment. It also includes penetration rates against countries’ GDPs, construction outputs and populations.

The Nordic Countries chapter completes a round of focuses that for the first time allowed a breakdown of the rental revenues by main product categories and by end-market categories for a "typical" rental generalist.

The figures in the report are based on official statistics for NACE rev. 2 code 77.32: “Renting of construction and civil engineering machinery and equipment without operator”. This is the industry standard classification system used in the EU.

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