Top 10 US-based equipment rental companies

By Lewis Tyler07 September 2023

The IRN100 logo

Published earlier this year, the IRN100 revealed a substantial gap in growth when the North American rental market was compared with other regions.

Companies within the US and Canada averaged 14.9% revenue growth between 2021 and 2022, while the US had nine entries in the top 20 of the list.

Of those nine entries, seven generated revenues of at least US$1 billion in 2021 which perhaps goes some way to demonstrate the strength of the market.

With that in mind, let’s take a look at the 10 US-based equipment rental companies. 

Top 10 US-based equipment rental companies

10. Custom Truck One Source

Based in Kansas City, Custom Truck One Source celebrated 25 years in business in 2022, a year in which the company also generated rental revenues of $618 million. This represented a 44% increase when compared with 2021.

9. Sunstate Equipment Co

In a year in which the company appointed Bob Krause as its new chief operating officer, Sunstate Equipment also posted healthy rental revenues of $748 million, up by 21%. 

8. Maxim Crane Works
Photo: Maxim Crane Works

Another company to announce changes at executive level in 2022 was Maxim Crane Works, which named Paul McDonnell as chief executive officer. On the financial front it posted a 5% increase and rental revenues of $843 million.

7. EquipmentShare

The first company on this list to enter the billions, EquipmentShare ended 2022 with estimated rental revenues of $1 billion.

2022 saw the company expand its presence in the US with a number of new rental locations, including a new location in Colorado. The company also placed in second in the IRN100 growth league.

6. H&E Equipment Services

H&E Equipment Services finished 13th in the overall IRN100 table, six places higher than 2021. The company reached rental revenues of $1.1 billion in 2022, a 16% increase. This year the company has opened a number of new branches as part of its growth strategy.

North America leads charge in rising IRN100 revenues Largest 100 rental companies in the world generated revenues of €66 billion in 2022
5. Home Depot Rentals

Moving up one place from the last IRN100 (where it placed 12), rental revenues for Home Depot Rentals were estimated to be just under $2 billion. The Atlanta-based company also launched Home Depot Ventures, a $150 million venture capital fund to fuel innovation in retail and home improvement. 

4. WillScot Mini Mobile
WillScot Mobile Mini headquarters. WillScot Mobile Mini headquarters. (Photo: WillScot Mobile Mini)

Baltimore-based WillScot Mini Mobile hit rental revenues of $2 billion, a 20% increase from 2021.

2022 also saw the company sell its UK storage business to Algeco for £335 million (€390 million).

3. Herc Rentals

Herc Rentals remains the third largest US-based rental company based on rental revenues thanks to a $2.5 billion performance in 2022.

This year the company says it’s expecting net capital investment in fleet to be between $1 billion and $1.2 billion. 

2. Ashtead Group

Ashtead Group, which owns Sunbelt Rentals in the UK and US, posted rental revenues of $8 billion last year, up from the $6.2 billion it reached in 2021.

The company also placed second in the top investors having spent $2.4 billion on its fleet. 

1. United Rentals
The acquisition of Ahern will further boost United Rentals’ fleet of aerial platforms and telehandlers. The acquisition of Ahern will further boost United Rentals’ fleet of aerial platforms and telehandlers. (Photo: United Rentals)

With rental revenues of $9.4 billion, Connecticut-based United Rentals remains the in first place. Towards the end of 2022 the company acquired Ahern Rentals for $2 billion.

While this was not a factor in this edition of the IRN100, the purchase is expected to add around $890 million of annual revenues. 

To see the top 10 largest equipment rental companies in Europe click here

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Ollie Hodges Publisher Tel: +44 (0)1892 786253 E-mail:
Lewis Tyler
Lewis Tyler Editor Tel: 44 (0)1892 786285 E-mail: