Top 10 Equipment Rental Companies in the US: Insights from IRN100 Ranking

The equipment rental industry is booming, according to the latest IRN100 ranking of equipment rental companies. The ranking, reflecting 2023 numbers, shows a significant 13.4% increase in revenues for the top 100 companies compared to the previous year, after factoring in exchange rate fluctuations.

US-based firms dominate the list, accounting for more than half of the total revenues of US$81.6 billion. Four of the top 5 companies on the IRN100 are based in the US, with an average growth rate of 14% attributed to organic growth and acquisitions.

The North American rental market is experiencing growth due to various factors such as rising infrastructure investment, increased demand for housing, data center construction boom, and policies aimed at bringing semiconductor manufacturing back to the United States.

Here’s a look at the top 10 rental companies in the US:

10. TNT Crane & Rigging:
Houston-based crane and rigging firm TNT Crane & Rigging saw a significant jump in ranking from #75 to #35, with revenues of $489 million and over 40 branches across the US and Canada.

9. Sammons Industrial (Briggs Equipment and SitePro Rentals):
Dallas-based Sammons Industrial moved up to #33, bringing in US$543 million last year, with several branches across different business units.

8. Sunstate Equipment Co.:
Phoenix-based Sunstate Rentals slipped to #20 but still earned revenues of US$841 million, with a strong presence across multiple states.

7. Maxim Crane Works:
Wilder, Kentucky-based Maxim Crane Works climbed to #17 with revenues of US$951 million, specializing in crane rental services.

6. Home Depot:
Atlanta-based Home Depot Rentals dropped to #12 with estimated revenues of US$1.4 billion, boasting a large network of locations.

5. H&E Rentals:
Baton Rouge-based H&E Equipment rose to #11 with estimated revenues of US$1.4 billion and a widespread presence across the US.

4. EquipmentShare:
Columbia-based EquipmentShare moved up to #9 with rental revenues of US$1.9 billion and exploring an initial public offering.

3. Herc Rentals:
Holding strong at #3, Herc Rentals reported revenues of US$3.5 billion and continued expansion with new locations.

2. Ashtead Group:
Maintaining its #2 position, Ashtead Group posted revenues of US$9.5 billion and unveiled ambitious growth plans for the future.

1. United Rentals:
Securing the top spot, United Rentals reported revenues of US$11.8 billion, fueled by strategic acquisitions and expansions, including the recent purchase of Yak for US$1.1 billion.

The equipment rental industry is clearly on a growth trajectory, with US companies leading the way in revenue generation and expansion. With such strong performance in 2023, the future looks promising for the sector.