International Rental News has published its 2020 list of the top 100 rental companies in the world.
Aside from some significant shifts in the top 10, perhaps the most notable development in this year’s IRN100 listing of the world’s largest rental companies is the progression of a number of North American firms in the ranking and the entry of several new North American players.
Based on the latest total revenue figures for 2019 (or the most recent financial year), the top 100 rental companies had a combined turnover of €53.2 billion, representing a 10% like-for-like increase on the previous year.
The world rental market has also grown, with an estimated total value of €87.5 billion in 2019. Here we take a look at those leading the pack.
Top 10 rental companies 2020
10. Algeco Scotsman
Slipping down one places on this year’s list is modular space specialist, Algeco Scotsman. The UK-based company saw its turnover grow from €955 million in 2018 to €975 million in 2019. Algeco has operations in more than 37 countries globally.
9. Nishio Rent All Co
Also dropping by one position in the league table, Nishio Rent All grew its revenues from just over €1 billion in 2018 to almost €1.2 billion in 2019. The Japanese firm, with operations across Southeast Asia, provides equipment for road construction, plant building, events and exhibitions, and speciality civil equipment across various sectors.
8. Boels Verhuur
Then there is Boels, which has leapt into the top 10 to take 8th position in the ranking, pushing Nikken Corp out of the top 10, from 10th into 12th position. This is because we have included Cramo’s revenues within Boels’ due to its recent acquisition. As a result, Boels’ revenues have increased from €579 million in 2018 to just under €1.3 billion in 2019.
Maintaining its position in 7th place, Kanamoto achieved 2019 revenues of just over €1.4 billion, up from the €1.3 recorded in the previous year. The Japanese company offers equipment rental solutions for the construction industry through more than 500 depots.
6. Herc Rentals
Down one position from the previous year, Herc’s 2019 revenues of just under €1.8 billion have put it in 6th position this year. The US-based company provides construction equipment and tools through almost 300 depots across the US, Canada and the Middle East. Its revenues have grown from just over €1.7 billion in 2018.
Also shifting down one position, Aggreko is in 5th place on the league table this year, with 2019 revenues of €1.9 billion. This figure represents an 8% like-for-like drop on the previous year’s revenue, and constitutes 3.6% of total revenues for the top 100. The company invested €223 million in its fleet in 2019, which is a 3% like-for-like reduction compared to 2018.
Loxam has jumped two places into fourth position. The French company’s revenues increased to just under €2.3 billion in 2019, following its acquisition of Ramirent last year in what was the biggest merger in the history of the European rental market. Before the acquisition, Ramirent generated revenues of €774 million in 2018. With the total European rental market valued at €26.6 billion, that puts Loxam’s European market share at 8.6%. In terms of the IRN100, Loxam’s revenues account for 4.3% of the top 100’s total revenues for 2019.
3. Aktio Corp
Third position is once again taken by Aktio Corp, with revenues of €2.3 billion. The Japan-based company’s revenues account for 4.3% of the top 100’s total revenues for 2019. Aktio Corp operates in Japan, Thailand, Singapore, Malaysia, Taiwan, Indonesia, Bangladesh and Myanmar.
2. Ashtead Group
In second position, Ashtead recorded revenues of just over €5.3 billion in 2019, representing 10% of the top 100’s total revenues for the year. The UK-based rental company increased its spending on new equipment from just over €1.6 billion in 2018 to more than €1.8 billion – not much less than United Rentals’s €1.9 billion capex in 2019.
1. United Rentals
it comes as no surprise that United Rentals has maintained a strong lead on its nearest competitor. The US giant constituted 15.6% of the top 100 companies’ rental revenues for 2019 – more than the 14.8% it constituted in 2018. The company also invested in excess of €1.9 billion in new fleet equipment, representing a like-for-like increase of 1% on capital expenditure in 2018.
To view the complete list of the top 100 rental companies, download the June issue of IRN magazine here. (All revenues were converted into € using exchange rates as at 31st December 2019.)