Annual Report 2008
The Voice of the Equipment Rental Industry
3 International
Rental Exhibition
1 Economic Outlook4 European Rental Awards5 The European Union &
the Rental Industry
6 General Rental Conditions7 Promoting
the Rental Concept
8 Statistics 2 ERA Convention –
Think Rental, Act Local
3 International
Rental Exhibition
1 Economic Outlook4 European Rental Awards5 The European Union &
the Rental Industry
6 General Rental Conditions7 Promoting
the Rental Concept
8 Statistics 2 ERA Convention –
Think Rental, Act Local
Welcome Letter by ERA President
Dear Member,
In 2007, the European construction sector experienced once again an exceptional growth period that
benefited the whole industry, and especially the equipment manufacturers who set new European sales
records. As for the rental industry, it went through a 12 % increase in Europe, achieving outstanding growth
rates in some Eastern and Central European countries.
Considering the current growth trend fuelled by the development of Eastern countries and considering the
euro currency exchange, the European Rental market has become one of the largest markets in the world
with revenue of €23.5bn. In Europe, even if a slowdown is predictable, fundamentals for a persisting growth
in rental appear stable.
This boom exceeding by far the Construction sector’s growth is originated by the increasing penetration rate
in the Eastern countries and by the development of mechanisation for productivity and safety in Western
countries. This tremendous trend has energised European rental companies, stimulating phenomena such as
start-ups, consolidation and internationalisation. Everything sped up in 2007.
But to project such a rental growth would overlook the butterfly effect theory.
A financial crisis that should have been a mere bubble has triggered in 2008 a general slowdown of activity,
including so local an industry as construction. We have forgotten, experiencing an extended growth period,
that despite stable fundamentals, the construction remains