IRN100 survey: USA drives growth in global equipment rental revenues

The equipment rental industry continued its upward trajectory in 2024, with the world’s 100 largest companies reporting combined revenues of €81.9 billion, an 11% increase over 2023.

That’s according to the latest IRN100 survey, published by International Rental News.

Adjusted for exchange rate fluctuations, the year-on-year growth stands at 7.7%, reflecting a strengthening Euro against other global currencies.

Growth was once again led by North American companies, which achieved an average revenue increase of 13.6%, well above the global average.

The performance was fuelled by robust infrastructure spending, a resilient residential construction sector, and a wave of strategic acquisitions across the region.

In contrast, growth in Europe was more moderate, averaging 4.6%. Nevertheless, notable performers such as Boels Rental and Aggreko posted strong double-digit increases of 12% and 21%, respectively.

Capital expenditure across the top 25 rental firms declined by 11% to €12.6 billion, marking the first drop in fleet investment since 2020.

Despite the fall, investment levels remain historically high, with North American companies accounting for 72% of the total spend.

The survey also includes a list of the fastest growing companies and an overview of the biggest regional players in North America, Europe and Asia.

The full IRN100 report and analysis will be published in the June issue of International Rental News in the coming weeks.