Equipment rental company now has five stores in Ohio.
Volvo Rents has opened its newest equipment rental center in Cleveland. The decision to open a new office in Cleveland follows what the company says is forecasted growth in the equipment rental industry, as well as an increase in construction spending in Northeastern Ohio.
According to Volvo, recent data from the American Rental Association (ARA) shows that overall North American equipment rental industry revenue is expected to increase at least 6.9 percent to $33.5 billion in 2012. Further, the ARA forecasts annual growth in rental revenue to reach $53.1 billion by 2016.
The Cleveland office is the fifth for the company in Ohio. Presently Volvo Rents operates Ohio locations in Columbus, Dayton, Hamilton and Zanesville.
“As the recession abates, the construction equipment rental industry is projected to be one of the fastest growing industries in North America, as more people are choosing to rent rather than commit to capital expenditures,” says Mike Crouch, vice president of business development for Volvo Rents. “Our strong brand recognition, coupled with the growing demand for construction equipment rental, allows us to look to the future with great enthusiasm.”
Along with Volvo compact equipment, the new store will carry equipment and tools for the construction, commercial, industrial and homeowner markets.
Volvo Rents operates 120 rental stores in North America. The company operates a network of company-owned rental stores and franchised rental stores.