IRN-100 survey confirms 15% rental drop in 2009

By Murray Pollok04 June 2010

Revenues at the 100 largest rental companies in the world fell by an average of 15% in 2009, according to the latest IRN-100 survey published in the may-June issue of IRN. Revenues at the top 10 companies fell by over 20%.

The results spell out the severity of the downturn that hit the European and North American rental markets in 2009. A survey of the top 50 European rental companies - published alongside the IRN-100 - reveals that average revenues fell by 20%.

The world's top three renters were United Rentals (1), Aggreko (2) and Ashtead Group (3), while the largest three European's (based on revenues in Europe only) were Loxam (1), Ramirent (2) and Algeco Scotsman (3).

The IRN-100 survey also reveals the extent to which companies cut back on capital expenditure last year, with gross spending on fleet by the top 100 companies falling 70% to an estimated €1.68 billion.

The figures from the IRN-100 survey are confirmed by the findings from the European Rental Association's annual market study (conducted by IHS Global Insight) which found that European non-operated plant rentals fell by 17.2% to €20.2 billion in 2009.

The ERA study forecasts that revenues will fall by between 0% and -5% in most European countries this year, with the exception of Spain where a 20% drop is forecast.

To read the IRN-100 survey, see the May-June issue of IRN, soon to be published. Readers can also register to receive the magazine in digital PDF format. The digital issue is free and registration can be completed at www.khl.com/subscriptions/free-digital/

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