US equipment rental market seen to grow 11.2% this year

18 Aug 2022 CW Team

The equipment rental market continues to see growth in the US, as supply-chain challenges impact manufacturers’ abilities to produce heavy equipment.

The American Rental Association’s recently released update of its five-year forecast continues to point toward continued growth for equipment rental revenue in 2022 and beyond.

For 2022, ARA projects US equipment rental revenue, including construction and general tools, to grow 11.2% to reach $55.9 billion, consistent with earlier projections this year. Construction equipment rental is expected to lead the way with 12.5% growth this year to a total $41.6 billion, following a 10.2% increase in 2021.

“Rental revenue continues to experience significant growth, despite some headwinds in 2022,” said Tom Doyle, ARA vice president for program development. “The longer-term forecast, while showing slower growth than this year, remains bullish. It is generally a good time to be in the equipment rental industry.”

In the next five years, ARA expects overall growth of 6.2% in 2023, 2.5% in 2024, 3.3% in 2025 and 3.7% in 2026, to total more than $65.1 billion. For construction equipment, the forecast sees growth slowing to 7% in 2023, 2% in 2024, 3% in 2025 and 3% in 2026. General tool growth is expected to be 7.4% in 2022 and then remain steady with 5% growth in 2023, 3% in 2024, 5% in 2025 and 5% in 2026.

“In these times of higher uncertainty, it is prudent to closely watch the driving factors to the forecast for changes that will affect build schedules for original equipment manufacturers or demand for rental companies,” Doyle said. “Depending on how long we have high inflation, supply-chain constraints, labour shortages and climbing interest rates, those econometric drivers can have an impact on the rest of 2022 and the outlook for 2023.”

Infrastructure Energy

17 Sep 2025

Adani Power To Build 2,400 MW Plant in Bihar

Adani Power on Saturday (September 13, 2025) announced plans to set up a 2,400 MW ultra super-critical power plant in Bihar at an investment of $3 billion (around Rs 26.48 billion).The company has signed a 25-year Power Supply Agreement (PSA) with Bihar State Power Generation Company Ltd (BSPGCL) to supply electricity from the project, which will be located at Pirpainti in Bhagalpur district.The PSA follows a Letter of Award issued by BSPGCL to Adani Power on behalf of North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) in August. Adani P..

NTPC Plans Nuclear Power Projects Via JV and Standalone Routes

Power major NTPC is planning to develop nuclear power projects both through joint ventures and on a standalone basis, CMD Gurdeep Singh has said.The company is collaborating with nuclear technology providers and state governments to explore individual nuclear projects, Singh added.Currently, the NTPC Group has an installed capacity of 82,926 MW across 53 NTPC-owned stations and 53 joint venture or subsidiary stations, drawing power from coal, liquid fuel, hydro, and solar sources.In December 2024, Singh had announced NTPC’s ambitious plan to enter the nuclear energy sector, a move expected t..

RVNL Wins $21.6 Million Bhopal Division Traction Substation

Rail Vikas Nigam (RVNL) has been declared the lowest bidder for a $21.6 million traction substation contract awarded by the West Central Railway.The project covers the design, modification, supply, erection, testing, and commissioning of a 220/132kV/2×25kV Scott-connected traction substation, switching posts, Auto-Transformer installations, and Supervisory Control and Data Acquisition (SCADA) systems in the Bina–RTA section of the Bhopal Division. The execution period is set at 540 days.In a regulatory filing, RVNL stated that the order was secured in the ordinary course of business and doe..