IRN100: Which are the world’s 100 largest rental firms and how quickly did they grow in 2024?
20 June 2025
International Rental News has published its list of the world’s biggest rental firms. Lewis Tyler finds out which firms generated the highest revenues last year and why global growth is slowing.
The world’s 100 largest equipment rental companies generated a total revenue of €81.4 billion last year, the 2025 IRN100 reveals.
According to the table, published in the latest edition of International Rental News, total revenues grew 7.7% compared with the previous year, the smallest increase since the end of the pandemic.
That 7.7% was corrected against currency exchange rates over the year which, because the table is measured in euros meant that without discounting to take into effect the strengthening of the euro against the US dollar in 2024, the increase calculated was 11%.
The figures also show that where there was growth in 2024, it was most significant across the Atlantic.
North American companies in this year’s IRN100 list grew by an average of 13.6%, driven by strong construction activity, infrastructure investment and continued demand in the residential housing market.
This chimes with data from the American Rental Association which shows the industry grew by 8% in the US and 6% in Canada in 2024.
As our updated animated chart of company revenues within the IRN 100 shows, total company revenues have nearly doubled over the past five years while the hierarchy of the world’s largest rental firms has stayed fairly consistent.
United Rentals continued its dominant trajectory, surpassing €14.1 billion in revenue — a 30% increase from €10.9 billion in 2023.
Ashtead Group and Herc Rentals also performed strongly, with revenue increases of 19% and 10%, respectively in 2024.
Revenue growth among European firms, meanwhile was far less dramatic last year, recording an average of 4.6% and reflecting a slump in the European construction sector during the year caused by high interest rates, soaring building costs and the ongoing effects of the war in Ukraine.
Notable performers such as Boels (12%) and Aggreko (21%) held their positions inside the top 10, while Loxam grew more moderately, at 2%.
With economists expecting growth in US construction spending to slow this year as a result of the fading impact of previous stimulus measures and trade policy uncertainty, and the ERA forecasting a 3% increase in Europe, it’s likely to be a similar story in 2025.
The top 10 companies listed are:
1. United Rentals
2. Ashtead Grou
3. Herc Rentals
4. Aggreko
5. Loxam
6. WillScot mobile mini
7. Aktio Holdings Corp
8. EquipmentShare
9. Boels Rental
10. Modulaire
The full IRN 100 - with company rankings (and how those rankings have changed since the previous year), sales data and an in-depth analysis - appears in the May-June issue of International Rental News.
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