As expected, the RER 100 declined in 2020, as did the rest of the rental industry and just about every business in the United States and globally. The larger rental companies were certainly no exception.
The RER 100 in 2020 totaled $25,602.5 million, a decline of 8.8 percent from the record total of $28,084.1 million in 2019, reported on in May of last year. The RER 100 total rental volume drop of 8.8 percent was the largest decline of the RER 100 listing since the 25.3 percent decline in 2009, and only the fifth decline since 2000.
It was also the second highest total in the list’s history, topping 2018’s total of $25,213.1, which was previously the second highest.
After increasing for nine consecutive years, the top 10 decreased in 2020 by 7.5 percent, the biggest decline since 2009, and only the sixth drop since 2000. The top 10 makes up 74.3 percent of the chart’s rental revenue, and the 2020 total was the second highest in the list’s history -- $19,018.4 million, down from 2019’s record-breaking total of $20,555.9 million.
There were no dramatic surprises in the top 10 of the RER 100. Once again, United Rentals led the way, followed by Sunbelt Rentals, Herc Rentals, Home Depot Rental and Maxim Crane Works making up the first five. Numbers six through 10 were BrandSafway, Ahern Rentals, H&E Equipment Services, Sunstate Equipment Co. and Aggreko North America.
When 2020 began, while some rental companies expected 2020 to exceed 2019, some felt a gradual slowing was likely. At that point nobody expected a dramatic worldwide pandemic that would almost completely shut down commerce in the middle of March.
At first it looked like a disaster for the rental industry, but most companies were able to continue business as “essential” suppliers to the economy. While April through May were pretty tough months for most companies, many continued – relatively speaking – with business as usual, although some customers of rental companies found cancelled projects and an uncertain environment that clearly slowed down business.
It’s far too early to make any assumptions on how this year will end up. For the most part, most on the RER 100 said this year has started off well, and most companies said that their customers are busy and optimistic.
For the complete report on the RER 100, click on the digital edition of RER’s May issue and read: https://secure.viewer.zmags.com/publication/c01c82bd
