Rental Solutions and Services leads Middle East charge into world’s top 100 rentals
Dubai’s Rental Solutions and Services has entered International Rental News annual list of the world’s Top 100 Rental Firms. Joined by Byrne Equipment Rental, it is the first time that Middle East companies have entered the listing, indicating a change in the global market and the increasing shift to rental from buying in the region. […]
RSS provided temporary cooling for Dubai’s Metro in 2009
Dubai’s Rental Solutions and Services has entered International Rental News annual list of the world’s Top 100 Rental Firms.
Joined by Byrne Equipment Rental, it is the first time that Middle East companies have entered the listing, indicating a change in the global market and the increasing shift to rental from buying in the region.
According to publishers KHL Group’s IRN 100 Survey, “worldwide equipment rental revenues grew significantly in 2011 as contractors and other equipment users increased their reliance on rental suppliers”.
Rental companies in all regions reported revenue growth last year, although European firms lagged behind the rest.
“Total rental-related revenues at the world’s top 100 rental companies grew by 13.3% last year, with revenues at the top 10 growing on average by 22.9%, after adjusting for currency changes,” said KHL. The full survey is published in the July-August issue of International Rental News (IRN).
Emerging markets continues to increase their participation in the list, with Chinese and Middle East companies in the top 100 for the first time. Chinese tower crane rental company Shanghai Pangyuan Construction enters at number 90 with revenues of €77 million, while Dubai-based Rental Solutions & Services (RSS) and Byrne Equipment Rental enter at 85 and 93, respectively.
Capital expenditure on fleet was also up dramatically in 2011, with the top 25 spenders investing €5.7 billion, gross, in their fleets. That is more than double the €2.5 billion in 2010 and reflects high replacement investment by rental companies in the US, Japan and Australia.
Murray Pollok, the report’s author, said; “A mix of factors contributed to the growth in rental last year. Many of the biggest rental companies in North America and Europe saw rental revenues recover from depressed levels in 2009 and 2010, while in developing areas of the world rental companies are expanding rapidly as the rental concept catches on.
“In addition, many rental firms believe that the current economic uncertainty, and difficulties in obtaining finance, are leading equipment users to source more of their equipment from rental suppliers. This trend is most evident in North America, where rental penetration rates are increasing.”
