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Rental News: EPA revs up retrofit program, 2008 state-of-industry report released, and more
According to the 2008 report, the construction and industrial equipment rental segment remained the largest in the United States in 2008, with rental revenue of $24.5 billion or 69.4 percent of the total U.S. rental market. For Canada, construction and industrial equipment remained the largest equipment rental revenue segment in 2008, accounting for $2.2 billion or 73 percent of the market.
Rental revenues in the United States fell 2.7 percent in 2008, but this performance was significantly better than the broad U.S. construction market. While the report states that further declines are likely in 2009 and 2010, it forecasts rental revenue growth in 2011 and total revenues in 2012 that equal or exceed the 2007 market peak.
The full report is now available for purchase through the ARA. Those who buy the report will receive two free written updates from IHS Global Insight and be invited to participate in two exclusive webcasts to be scheduled in late spring and fall 2009.
Volvo Rents expands franchise
DuWayne and Jackie Eoff, Aaron Eoff and Rob Barnica of EBE Enterprises LLC, announce the opening of their third construction equipment rental store. The new Volvo Rents-Springdale location serves the northwest Arkansas market and is located at 4268 Haile Lane. The store’s telephone number is (479) 750-7368.
“Everyone is asking us why we are opening another store in such bad economic times. Our response is that everyone is cutting—people, equipment and stores—while attempting to maintain their customer base. We believe the only way to truly serve our customers’ needs is to expand in our ability to meet their needs,” stated Barnica.
Volvo Rents is also expanding into Red Deer, Alberta.
Local owners Doug Baumann, Deanna Bauman, and Lance and Twyla Gardiner of Bonus Rentals, announce the opening of their fifth construction equipment rental store. Volvo Rents - Red Deer is located at 66-38403 Burnt Lake Trail, Unit B. The store’s phone number is (403) 341-3171. Their other locations are in Edmonton, Edson, Ft. Saskatchewan, and Rocky Mountain House.
“We’re excited about the opportunity in Red Deer,” stated Lance Gardiner. “Alberta’s strong economy has fueled the demand for more rental equipment.” Gardiner said that a big reason why they decided to expand to the Red Deer area was that many of the contractors they do business with invited them to the area.
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