Tag Archive for 'equipment rental'

Rental Hall of Fame inductees announced

Two industry veterans will become the newest inductees into the Rental Hall of Fame. Charles Neffle and Thomas Fouts will be formally inducted on Feb. 9, 2020, at The ARA Show in Orlando, Fla.

Each year, the American Rental Association (ARA) honors individuals who have made a significant impact on the equipment and event rental industry at the national or international level. Charles Neffle and Thomas Fouts will be formally inducted during a ceremony on Feb. 9, 2020, at The ARA Show™ in Orlando, Fla.

ARA created the Rental Hall of Fame in 2000 to foster an appreciation of the historical development of the equipment and event rental industry and the leaders who helped the industry grow and expand. Each year, nominations are accepted to recognize individuals who have made a substantial contribution to the industry.

Here is more information on the newest inductees:

Charles Neffle, All Occasions Event Rental, Cincinnati, Ohio

Charles Neffle’s active service to ARA began in 1995 when he served on the Advertising and Marketing Committee. In the coming years, there was no committee that he wasn’t part of. He moved on to serve on the ARA board, ultimately serving as ARA president in 2001-2002. During his tenure on the board, he was instrumental in the development of the Certified Event Rental Professional (CERP) program, assisting in the selection of ARA’s third CEO and the development of a strategic plan for the association.

After serving as president, Neffle went on to chair the ARAPAC Council from 2004-2006, serve on the ARA Insurance Limited board from 2007-2009 and chair the ARA Foundation board of trustees in 2009-2010.

Neffle was honored with the Meritorious Service Award in 1996 and the Distinguished Service Award in 2004. He was recognized with the ARA Foundation Loyal Donor Recognition Award in 2005 and the ARA Foundation James Keenan Award in 2007.

Today, Neffle serves as chair of All Occasions Event Rental. The company recently celebrated its 40th anniversary.

Thomas Fouts, Bledsoe Rentals, Lees Summit, Missouri
Tom Fouts began working in rental in 1970 and attended his first ARA convention in 1973 where he decided to make the rental industry his career.

Fouts has been dedicated to promoting the equipment and event rental industry and ARA on local, state and national levels throughout his 49-year career in the industry. He was an officer on the ARA board for five years and has served on more than 20 local and national committees and boards. 

During his tenure on the Education Committee, he helped develop education, safety and management training systems and the “Making It Work” video training series. These paved the way for many Rental U courses in the areas of rental store management and day-to-day operations. He also helped develop the RenTech educational programs during a three-year term as chair of the General Tool Shared Interest Group. 

In 2002, Fouts presented “Operation ID,” which he structured to create “Intentional Development” of leadership for local and state associations. The program was presented at multiple ARA Leadership Conferences for local and state associations to recognize strengths and weaknesses, identify individuals with leadership potential and develop processes to support stronger associations. 

Following his service on the ARA Board, Fouts served on the Rental Management Advisory Board and also served on and co-chaired the ARA Insurance Services Captive Board. Fouts has attended ARA’s National Legislative Caucus more than 20 times. On the local level, he worked to eliminate personal property tax on rental equipment and was successful obtaining stronger theft of services legislation. 

Today, Fouts serves as chair of Bledsoe Rentals and as the coordinator of the ARA Past Presidents group. 

About ARA: (www.ARArental.orgThe American Rental Association, Moline, Ill., is an international trade association for owners of equipment and event rental businesses and the manufacturers and suppliers of construction/industrial, general tool and party/event rental equipment. ARA members, which include more than 11,000 rental businesses and more than 1,000 manufacturers and suppliers, are located in every U.S. state, every Canadian province and more than 30 countries worldwide. Founded in 1955, ARA is the source for information, advocacy, education, networking and marketplace opportunities for the equipment and event rental industry throughout the world.

There’s a Tool for That

The American Rental Association unveils new brand identity

A new day, a new brand … Modern. Relatable. Collaborative.

 

For the first time in more than 40 years, The American Rental Association (ARA) proudly unveils a new brand identity to reflect the evolution of the equipment and event rental industry. The move is part of an extensive branding initiative designed to carry the association forward in better serving its members and representing a community of equipment and event rental professionals.

“In order to effectively support this ever-changing and growing industry, we knew we needed to modernize our brand and our communications. As more second-, third- and fourth-generation owners get involved and the large national companies expand, it was necessary for us to evaluate the association’s role and determine how we can best support the industry. This is one step toward enhancing our relevance and value to all who are part of this unique rental community,” says Tony Conant, ARA CEO.

In 2017, the ARA board of directors approved the formation of the ARA Brand Committee to guide the association through a rebranding process. Committee members represented all three segments of the equipment and event rental industry. The goal was to create a cohesive family of brand marks that would work and read well in all facets of communications, represent the entire rental industry and speak to the values of our young professionals and future leaders of the association.

The rebranding process also led to a new positioning statement for the association: ‘Advancing the equipment and event rental community’. “Our previous identity recognized the members who specialize in equipment rental, but it didn’t specifically speak to those in the party and event segment,” says Conant. “Furthermore, the term ‘community’ is an accurate reflection of who we are as rental professionals and how we operate, like a community of helpful, like-minded people”

All facets of the association’s identity were evaluated during the rebranding process. Updates include new logo marks for ARA Insurance, ARA Foundation, Rental Management and the industry’s annual trade show and convention. During the research, it was discovered that the name ‘The Rental Show’ did not have brand equity and that ARA members didn’t feel that the show was closely aligned with the association. Effective with the rebrand, the new name and accompanying logo for the industry’s premier event is The ARA Show.

The new ARA brand mark reflects a modern and approachable look in terms of color, typeface, and design while paying homage to the previous logo. “We’re focused on continuing the development of the association with a brand update that builds on our rich history of being a unique platform where rental professionals can learn, share ideas and give back to our industry,” says Conant.

About ARA: (www.ARArental.org) The American Rental Association, Moline, Ill., is an international trade association for owners of equipment rental businesses and the manufacturers and suppliers of construction/industrial, general tool and party/event rental equipment. ARA members, which include more than 10,000 rental businesses and more than 1,000 manufacturers and suppliers, are located in every U.S. state, every Canadian province and more than 30 countries worldwide. Founded in 1955, ARA is the source for information, advocacy, education, networking and marketplace opportunities for the equipment and event rental industry throughout the world.

ARA Reports that the equipment rental industry poised for stronger growth

ARA five-year forecast calls for revenue to reach $59.4 billion in 2021

ARA now projects U.S. equipment rental revenue to reach $49.4 billion in 2017, up 4.5 percent over last year. The February forecast projected U.S. equipment rental revenue of $48.9 billion in 2017 and an average annual growth rate of 4.6 percent to reach $56 billion in 2020.

The May 3 forecast calls for U.S. rental revenue to grow 4.7 percent in 2018, 5.1 percent in 2019, 4.6 percent in 2020 and 4.4 percent in 2021 to reach $59.4 billion combined for the three segments of the industry including construction/industrial, general tool/light construction and party/special event.

This is the second consecutive quarterly forecast to project stronger growth during the forecast period compared to the previous quarterly update of the ARA Rental Market Monitor™ subscription service by IHS Markit™, the economic forecasting firm that compiles the data and analysis as part of a partnership with ARA and Rental Management.

“The equipment rental continues to post strong performance numbers with annual revenues closing in in the $50 billion mark this year,” says John McClelland, ARA’s vice president for government affairs and chief economist.

“The issues going forward are how the Congress is going to deal with tax reform and infrastructure spending. If tax reform can lower rates and simplify the code for all businesses that could be a sign of even stronger growth and a strong infrastructure bill will add to that momentum,” McClelland says.

Scott Hazelton, managing director, IHS Markit, says weak first quarter numbers for the U.S. gross domestic product (GDP) masked solid demand for investment, which will help fuel growth in equipment rental revenues.

“Construction growth has remained robust. While it will moderate over the year, it will support significant rental potential,” Hazelton says. “Reduced headwinds from exchange rates and improving business confidence also are aiding the industrial sector and its equipment rental demands.”

Hazelton also says policy uncertainties continue to temper the forecast because of unknowns. “Good decisions could improve the outlook while poor ones could substantially diminish it. However, the trends to date suggest strong equipment rental demand for 2017, 2018 and beyond,” he says.

Despite sluggishness in nonresidential construction, contractions in real residential construction and uncertainty of additional infrastructure spending, the construction and industrial equipment segment and general tool rental segment are projected to achieve compound annual growth rates (CAGRs) of 4.1 percent and 6.1 percent, respectively, between 2017 and 2012, according to the ARA Rental Market Monitor.

In addition, party and event rentals will benefit from continued improvement in consumer spending and rental revenue is projected to show a 5.8 percent CAGR over the 2017 to 2021 period. Total equipment rental revenue is expected to grow at a CAGR of 4.7 percent between 2017 and 2021.

In Canada, the five-year forecast calls for accelerating revenue growth each year, starting with a 2.7 percent increase in 2017 to reach $5.12 billion. Total rental revenue is expected to grow another 3.1 percent in 2018, 4.2 percent in 2019, 5.3 percent in 2020 and 5.9 percent in 2021 to reach $6.13 billion.

Construction and industrial equipment and general tool rental revenues are expected to grow at CAGRs of 4.7 percent and 4.3 percent, respectively, through 2021. Party and event rental is expected to grow at a CAGR of 4.2 percent, benefitting from stable consumer spending and a rebound in corporate disposable income in Canada. Total rental revenue in Canada is pro9jected to grow at a CAGR of 4.6 percent between 2017 and 2021, according to the ARA Rental Market Monitor.

About ARA: (www.ARArental.org) The American Rental Association, Moline, Ill., is an international trade association for owners of equipment rental businesses and the manufacturers and suppliers of construction/industrial, general tool and party/event rental equipment. ARA members, which include more than 10,000 rental businesses and more than 1,000 manufacturers and suppliers, are located in every U.S. state, every Canadian province and more than 30 countries worldwide. Founded in 1955, ARA is the source for information, advocacy, risk management, business development tools, education and training, networking and marketplace opportunities for the equipment rental industry throughout the world.

About IHS Markit™: (www.ihsmarkit.com)

IHS Markit (Nasdaq: INFO) is a provider of critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

 

The rental revenue forecast strengthens; Rental Penetration Index steady in 2016

The American Rental Association’s (ARA) five-year forecast for equipment rental industry revenues was released by the ARA in January 2017. The forecast shows a moderate strengthening compared to the November forecast. ARA now projects U.S. equipment rental revenue will reach $48.9 billion in 2017, but then grow at an average annual rate of 4.3 percent over the forecast to top $56 billion in 2020.
“We continue to see strength in key economic data that drive our rental revenue estimates,” said John McClelland, ARA vice president for government affairs and chief economist. “The economy continues to gain strength and the promise of tax reform, reductions in regulations, a more accommodative energy policy and additional infrastructure will only add to that strength. The big question continues to be how fast these changes will occur and go into effect,” McClelland said.

Construction and industrial equipment rental revenue is forecast to grow by 3.7 percent in 2017, 4.2 percent in 2018, 5 percent in 2019 and 4.2 percent in 2020. McClelland said revenues for the general tool segment are expected to grow even faster during the out years of the forecast due to the continued improvement in the U.S. housing market, with increases of 2.9 percent in 2017, 5.1 percent in 2018, 5.3 percent in 2019 and 6.6 percent in 2020.

Quarterly updates in 2016 previously showed positive expectations, but included a very gradual slowing in the expected growth of rental revenues over the year, according to figures compiled by IHS Markit™, the economic forecasting firm that compiles data for the ARA Rental Market Monitor™. The first new quarterly forecast for the ARA Rental Market Monitor in 2017, however, reverses the trend with an expected gradual increase compared to last quarter’s forecast. “The economy definitely hit a soft patch toward the middle of 2016 that somewhat lowered our expectations for growth in the economy as a whole as well as rental revenues,” said Scott Hazelton, managing director of IHS Markit™. “We are now seeing a reversal in that growth trend suggesting a return to positive changes in our outlook for rental,” added Hazelton.

IHS Markit™ also estimated the Rental Penetration Index for 2016. The index fell by ten basis points from 52.9 percent to 52.8 percent in 2016. “The continued redeployment of equipment from oil and gas projects in early 2016 coupled with the expansion in 2016 construction spending and employment meant that contractors were expanding their fleets at a slighter higher rate than rental companies were expanding their fleets. The ten basis point change in the Rental Penetration Index really indicates that rental companies in the construction and industrial equipment space are holding their own against increasing equipment acquisitions by contractor fleets even in the face of some headwinds in early 2016,” said Hazelton. “Our forecast of a 3.9 percent increase in construction and industrial equipment investment in 2017 compared to 2016 is much stronger than the 2.1 percent investment growth from 2015 to 2016 and suggests that the growth in rental fleets will continue to increase,” added Hazelton.

The latest ARA Rental Market Monitor forecast for Canada projects $5.148 billion in equipment rental revenue in 2017, which reflects a gradual slowing in growth rates to 3.3 percent compared to the November forecast.

The 2018 forecast of 3.8 percent growth and 2019 of 3.9 percent also reflect a gradual slowing compared to the November forecast. However, the current forecast for 2020 is for a more robust 5.3 percent growth in equipment rental revenue in Canada to reach $5.849 billion, which is greater than the November forecast.

About ARA: (www.ARArental.org) The American Rental Association, Moline, Ill., is an international trade association for owners of equipment rental businesses and the manufacturers and suppliers of construction/industrial, general tool and party/event rental equipment. ARA members, which include more than 10,000 rental businesses and more than 1,000 manufacturers and suppliers, are located in every U.S. state, every Canadian province and more than 30 countries worldwide. Founded in 1955, ARA is the source for information, advocacy, risk management, business development tools, education and training, networking and marketplace opportunities for the equipment rental industry throughout the world.