Market report for 2024 released
09 October 2024
The European rental market is normalising, as it undergoes a post Covid-19 rebound, says the European Rental Association (ERA) in its Market Report for 2024.
Interest rates and general uncertainty are directly affecting the residential sector, which is suffering across the EU , with relative importance for the rental industry.
In the coming years, EU investment via the National Recovery and Resilience Plan (NRRP) is expected to boost rental activity.
According to the report, the European rental market is projected to grow by 0.9% in 2024, 2.8% in 2025, and 3.6% in 2026, reflecting steady growth in the industry.
Steady increase
The European rental market has experienced a steady increase in its rental penetration rate over the past years, reflecting the growing preference of customers to rent rather than buy equipment and tools, states the report.
“Renting offers access to modern equipment, flexibility, and cost-efficiency, as it reduces capital expenditure requirements, fixed costs of ownership, and residual value risk while allowing customers to adapt to changing demand and project requirements.”
The report is compliled using Nomenclature of Economic Activities (NACE) data on annual turnover published in the two years prior from Eurostat, the statistical office of the European Union.
Forecasts of economic and construction activities are taken from the European Commission, including the European Construction Sector Observatory, ECSO, and the Building Stock Observatory (BSO), as well as FIEC (European Construction Industry Federation), Euroconstruct, S&P Global, and KPMG proprietary data.
The ERA Market Report is available this year for free to *ERA members. It is available for non-members for a fee of €1,200.
If you would like to access the report, please email the ERA team at [email protected].
*Incl. rental company members of associations that are a member of ERA.
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.