RER magazine released its RER 100 report last week for the 25th consecutive year. At the top of the list for the 10th straight year was United Rentals, although its rental volume dropped year over year. United Rentals was followed in the top 10 by RSC Equipment Rentals, Sunbelt Rentals, Hertz Equipment Rental Corp., Home Depot Rentals, NES Rentals, Ahern Rentals, Maxim Crane Rentals, H&E Equipment Services and Aggreko North America. The companies are ranked by rental volume, with figures either provided by the companies, listed publicly or estimated by the RER staff based on interviews with people at particular companies or in the field, regional economic conditions and other factors. The 2009 RER 100 listing is based on rental volume in 2008.
For the 2009 listing, the 100 largest rental companies’ total volume reached $13.8 billion ($13,802.6 million), a 0.36-percent decline compared with rental volume for the 100 of $13,853.6 million in 2008. However, among companies that were on the list in both 2009 and 2008, rental volume dropped 2 percent.
The largest decline on the RER 100 listing was in the top 10, with a drop of 3.3 percent year over year.
Although 115 companies are listed in the RER 100 report, year-to-year comparisons and totals only include the 100 largest. Nine companies made the listing this year for the first time.
The most noticeable area of decline were in the formerly booming states of California and Florida. Companies based in those states, doing business primarily in those states, dropped 17 and 18.2 percent respectively in terms of rental revenue.
Although RER 100 companies were, overall, mostly flat year over year, the majority, in interviews with the RER staff, said volumes began to drop precipitously in the fourth quarter of 2008 and most expect a more difficult year in 2009 as a result of reduced demand, lower utilization and severe downward pressure on rental rates.
The RER 100 will appear in the May 2009 issue of RER magazine, which will soon be delivered to subscribers. For more information about how to obtain a copy, visit www.rermag.com.