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A return to growth in 2021 across all European rental markets, expected to slow down in 2022 and 2023

A return to growth in 2021 across all European rental markets, expected to slow down in 2022 and 2023
ERA Europe
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A return to growth in 2021 across all European rental markets, expected to slow down in 2022 and 2023

IMAGE SOURCE: The European Rental Association (ERA)

The European Rental Association (ERA) has released its 2022 Market Report. The European rental market experienced strong growth of 7.9% in 2021, with a total rental turnover of more than EUR 24.6 billion in the 15 countries covered by the Market Report. There was growth across all markets, with the UK, Germany and France retaining the largest share of the European rental market, comprising about 60% of the total market size.

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The market is expected to slow down to 4.1% growth in 2022, in nominal terms, as soaring energy prices, inflation and high interest rates dampen the outlook for businesses and households. In volume, this could represent a decrease from 2021, with differences among countries depending on the level and impact of inflation.  However, the market is projected to remain strong through to mid-2023. In the longer term, the European rental market will benefit from the economic uncertainty as rental will replace demand for machinery due to increasing price pressures and constant changes in technology and regulations.

Moving to an online platform

This year’s Market Report is available for the first time on a web-based platform – S&P Global Connect – which replaces the usual pdf document from IHS Markit.

This makes the Market Report easier to navigate and more accessible, with detailed reports broken down by country, as well as for Europe as a whole. Reports can then be saved to your ‘My Connect’ for quicker access at a later date. A detailed view of the key data per country is also available in the ‘Analytics’ section.

The leading source of intelligence on the European equipment rental market

Developed in collaboration with IHS Markit, now a part of S&P Global, the ERA Market Report is the leading source of market intelligence on the European equipment rental market and the only Europe-wide industry benchmark. It contains detailed market information for the years 2019 to 2024 and key indicators, including rental turnover, fleet value and investments.

For ERA members, the ERA Market Report is available this year for free to provide more visibility for the industry. It is also available for non-members for a fee of EUR 1,200. If you would like to access the report, please email the ERA team at era@erarental.org.

*Incl. rental company members of associations that are a member of ERA.

 

Source: The European Rental Association (ERA)