American Rental Association (ARA) equipment rental store owners and managers as well as product suppliers to the industry continue to show optimism for growth as 2013 draws to a close.

In the October ARA Economic Survey, 79 percent of those responding continue to project an increase in rental revenue this year over 2012, including 43 percent expecting double-digit growth. Overall, 90 percent expect rental revenues to at least equal those of 2012.

This anticipated revenue growth means respondents are adding to their rental inventory to meet demand and 73 percent of survey participants expect new rental purchases to increase over 2012. Survey responses indicate that 40 percent of those responding expect a double-digit increase in spending on new equipment and nearly 90 percent expect to buy at least as much new equipment as they did in 2012.

In a separate survey, also conducted in October, 75 percent of ARA member equipment manufacturers said they expect increased sales into the rental channel in 2013 over 2012. More than 28 percent forecast double-digit growth and 93 percent expect sales into the rental market to at least equal 2012.

The ARA economic surveys reflect a snapshot in time of those who responded and may not be representative of the industry as a whole. However, rental companies and suppliers/manufacturers can benchmark their businesses against these results.