IRN100: survey reveals rise in revenues and CapEx
25 June 2024
The IRN100, a ranking of the largest equipment rental companies in the world, has revealed a 10.4% increase in revenues for 2023.
Corrected for exchange rate changes, that growth increases to 13.4% when compared with 2022.
North America-based companies once again take up the majority of the list, with the average growth rate among the 41 companies representing the region topping 14%.
The full survey is published in the June 2024 issue of IRN which can be downloaded here.
The top 15 companies based in the US generated revenues of €32.7 billion in 2023, compare that to €15.7 billion for the top 15 in Europe and €11.1 billion for the top 15 companies in Asia.
Four of the top five are all based in based in the US, with United Rentals leading the way and breaking the €10 billion mark for the first time.
The top 15 in North America take up almost half of the total revenues, which is up to €73.1 billion.
Representation from Europe is at its lowest since the 2017 edition of the IRN100, with 34 companies (down from 35) making it on to the list.
However, the results for European entrants can be viewed in a positive light when seen through the context of a relatively flat economy.
The survey also revealed record spending for the second year running. Having posted CapEx of €13 billion in 2022, the top 25 investors on this year’s list increased spend by 10%.
Similar to revenues, US-based companies feature heavily and take up some 60% of the total investment figure of €14.3 billion.
IRN will publish an extended version of the IRN100 in the coming months, which will include more comment and analysis on the findings.
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