Leading the world in growth: Top 15 U.S.-based rental companies

equipment rental 40 of the largest 100 rental companies in the world are North American, and the top three - United Rentals, Sunbelt (Ashtead) and Herc - are entirely or mostly active in the region

Equipment rental in North America continues to outpace the rest of the world. 

Based on the IRN100, an annual ranking by International Rental News, companies in the U.S. and Canada posted an average growth rate of 14.9% in 2022, compared to less than 4% for companies elsewhere (with the exception of China).

In fact, 40 of the largest 100 rental companies are North American, and the top three - United Rentals, Sunbelt (Ashtead) and Herc - are entirely or mostly active in the region.

North America is home to seven companies with revenues exceeding €1 billion, ahead of Europe, which has five. 

Here’s a list of the top 15 North American rental companies, pulled from this year’s IRN100. Together, their revenues total nearly €30 billion, an impressive statistic considering the IRN100’s total revenue was €66.2 billion.

1. United Rentals - The largest equipment rental company in the world maintained its perennial position as first on the list in 2022. A publicly traded company based in Stamford, CT, United holds about 16% of the North American market share. It owns the largest rental fleet in the world with approximately 4,700 classes of equipment totaling about $19.3 billion in original equipment cost (OEC), as of 2022. 

United posted €9.4 billion in revenue in 2022, up from €8.1 the year before. 

2. Ashtead (Sunbelt Rentals) - Ashtead was founded in 1947, in the village of Ashtead, Surrey, as Ashtead Plant and Tool Hire. In 1990, it acquired Sunbelt Rentals, and then in 2000, it acquired the U.S. equipment rental interests of Rentokil Initial plc, thereby doubling the size of Sunbelt Rentals. In 2006, Ashtead acquired NationsRent Inc. for $1 billion and became the second-largest equipment rental company in the U.S. 

Ashtead earned €8 billion in revenue in 2022, up from €6.3 in 2021. 

3. Herc Rentals - Moving up the list to #3 from #6, Herc Rentals has 350 depots throughout the U.S. and Canada. Once a part of car rental giant Hertz Global Holdings, Herc spun off into a separate publicly traded company on the New York Stock Exchange in 2016. Based in Bonita Springs, FL, Herc brought in €2.6 billion in 2022, up from from €1.8 billion in 2023.

4. WillScot Mobile Mini - Headquartered in Phoenix, AZ, WillScot is a business services provider specializing in innovative and flexible temporary space solutions, including modular office complexes, mobile offices, classrooms, temporary restrooms, portable storage containers, climate-controlled storage units, and a curated selection of furnishings, appliances and other services. WillScot Mobile Mini services end markets across all sectors of the economy from a network of approximately 240 branch locations and additional drop lots throughout the United States, Canada and Mexico.

The company posted €2 billion in 2022, up from €1.7 the year before. 

5. Home Depot Rentals - Home Depot is the largest home improvement retail corporation in the U.S., selling tools, construction products, appliances, and services, including fuel and transportation rentals. In 1995, Home Depot opened Tool Rental centers in four Nashville stores as a test, and now brings in €1.2 billion in revenue per year from its 1,400 locations.

6. H&E Equipment Services - Founded in 1961 in Baton Rouge, LA, H&E Equipment Services now operates as one of the largest equipment companies in the nation with 102 branches renting an inventory of earthmoving, construction, industrial, material handling and heavy equipment. H&E reports €1.1 billion in 2022, up from €965 million in 2021.

7. EquipmentShare - Founded in 2015 by brothers Jabbok and William Schlacks and headquartered in Columbia, Missouri, EquipmentShare is a nationwide construction technology and equipment solutions provider. EquipmentShare offers a comprehensive suite of solutions that includes a fleet management platform, telematics devices and a “best-in-class equipment rental marketplace that helps contractors from coast to coast build smarter.” The company, which has more than 185 locations nationwide, posted revenues of €1 billion, up from €400 million last year.

8. Maxim Crane Works - Maxim Crane is a coast-to-coast crane rental company specializing in crane rental and lifting services. Situated in over 50 locations, each branch can provide management services, including transportation, supported by safety and insurance programs. Revenues for the company were reported at €843 million in 2022, compared to €800 in 2021.

9. Sunstate Equipment Co. - Phoenix, AZ-based Sunstate Equipment Co. was founded by Mike Watts in 1977 and has since grown to 96 branches throughout the U.S. Sunstate reports revenue of €843 last year, up from €800. 

10. Custom Truck One Source - Custom Truck One Source (formerly known as Capitol Investment, Nesco Holdings) is a provider of truck and heavy equipment solutions based in Union Grove, WI (U.S.). It offers new and used boom cranes, bucket and dump trucks, vacuum equipment, diggers and other products. The company serves the electric utility transmission and distribution, telecommunications, and rail markets.

Custom Truck One Source reports revenue of €618 in 2022, up from €404.

11. Sammons Industrial (Briggs Equipment & SitePro Rentals) - Sammons Enterprises is a diverse holding company composed of financial services, industrial equipment, real estate investment, and infrastructure businesses operating in six countries. Headquartered in Dallas, TX, Sammons was established by Charles Sammons in 1938.

Industrial equipment services provider Briggs Equipment was founded in Dallas in 1896 as Briggs-Weaver Machinery Company by J.C. Weaver and C.H. Briggs. Charles Sammons purchased Briggs Equipment in 1952, and it continues as a separate division of Sammons International.

Sammons reports €448 million in 2022, up from €406 the year before. 

12.  Atlas Copco Specialty Rental Div. - Atlas Copco Specialty Rental is a worldwide provider of temporary compressed air, power, steam and nitrogen rental equipment and specialized services. With 138 branches, Atlas Copco serves industries including manufacturing, mining, offshore, oil & gas and power plants. Revenues were €453 in 2022, up from €413.

13. McGrath RentCorp. - Founded in 1979, McGrath is a diversified business-to-business rental company that rents and sells relocatable modular buildings, storage containers and offices, and electronic test equipment. The company operates through five divisions: Mobile Modular, Mobile Modular Portable Storage, TRS-RenTelco, KitchensToGo and Enviroplex.

Headquartered in Livermore, CA with branch offices located throughout North America, McGrath reports €432 in annual revenues in 2022, up from €346 the year before. 

14. All Family of Companies - The ALL Family of Companies is a privately owned crane rental and sales enterprise in North America, with 33 branches operating under the ALL, Central, Dawes, Jeffers and ALT names. The ALL Family has been a leader in the heavy lift industry since 1964, offering rental, sales, parts and service. Revenues are estimated at €380 in 2022, up from €370 in 2021. 

15. SoEnergy International - Based in Miami, FL, SoEnergy is a global provider of customized energy solutions. With project experience in more than 30 countries and over 5GW of energy solutions implemented, the company brought in €320 in revenues in 2022, up from €300 in 2021.

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