Revenues from equipment rentals across Europe are likely to remain subdued until at least 2014 due to the economic slowdown in the Eurozone, according to new research by the European Rental Association (ERA). The ERA’s latest report on the industry, produced in partnership with analysts IHS Global Insight, predicts revenue growth of just 0.1 percent in 2012, with the forecast improving only marginally in 2013 to 0.8 percent.
As reported by the construction industry watcher KHL Group, the new European Equipment Rental Industry 2012 Report also provides detailed country-specific analysis of the sector’s performance in 2011, which saw overall growth of four percent to a total value of €21.5 billion. The UK, Spain, Italy and Denmark were among the markets that struggled most last year, while Norway (+11.2%), Finland (+10.2%), Germany (+7.1%), France (+7.1%) and Sweden (+6.7%) all performed robustly. Emerging rental markets such as Poland and Russia were found to be the biggest winners, with Poland’s sector growing by almost a third in 2011.
The ERA said research methods and data had been improved upon since the previous report, according to KHL Group. Official UN statistics on the size of construction markets were used this time in favour of ERA’s own country estimates. The report also used data from Eurostat, which has benefited from a new classification system enabling researchers to more accurately pinpoint rental activities.
The European Equipment Rental Industry 2012 Report is available for purchase from the ERA (€300 for members; €900 for non-members). Sales enquiries can be emailed to the ERA: email@example.com