US Rental Equipment: Rental Rates and Demand remain positive into Summer 2026

Research evidence excerpt

US Rental Equipment: Rental Rates and Demand remain positive into Summer 2026

4 August 2026

European Business Services

US Rental Equipment: Rental Rates and Demand remain positive

into Summer 2026

The most interesting data point in the Wolftrac release was the sharp rebound in rental Will Kirkness

+44 20 7676 8355 demand to +4.5% YoY in June/July, from -0.3% YoY in April/May. The improvement in

will.kirkness@bernsteinsg.com demand translated into significantly higher utilization of 71%, up from 62% in April/May,

while pricing also strengthened with rental rates increasing +2.3% YoY versus +1.6%

Chad Dillard previously. Furthermore, respondent sentiment improved meaningfully, with all respondents

+1 917 344 8469

chad.dillard@bernsteinsg.com positive on the outlook for next year. Ahead of Sunbelt 1Q27 results, we forecast c.10% US

rental revenue growth with group EBITDA margins of 46.8%.

Filippo Giardini

+44 20 7762 4723 Rental rate growth accelerated as stronger demand and higher utilization

filippo.giardini@bernsteinsg.com supported pricing conditions. For the months of June and July, rental rates improved

to +2.3% YoY compared to +1.6% YoY in April and May. In the month of June, rental rates

Miguel Marques, CFA were up +2.1% YoY and +2.5% YoY in July. Respondents reported higher rates across +1 917 344 8432

miguel.marques@bernsteinsg.com virtually all equipment categories, supported by inflationary pressures, elevated equipment

replacement costs, fuel expenses and delivery costs. Industry consolidation was also cited

Specialist Sales as supporting pricing discipline. However, competition remains elevated, particularly on

larger projects and national accounts. Approx. 56% of respondents anticipate flat rental

Steve Song