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Commercial & Industrial Equipment Rental & Leasing
First Research, Feb 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US commercial and industrial equipment rental and leasing industry includes more than 8,000 companies with combined annual revenue of about $42 billion. Major companies include Hertz, RSC Equipment Rental, Sunbelt Rentals, and United Rentals. The industry is concentrated: the top 50 companies account for more than half of overall revenue.
COMPETITIVE LANDSCAPE
Demand is driven by economic growth, particularly in nonresidential construction. The profitability of individual companies depends on the merchandising mix and cost of financing rental inventory. Large companies have economies of scale advantages in buying equipment and having multiple outlets to share equipment. Small companies can compete effectively by providing specialty products for a local market and superior customer service. The industry is capital-intensive: average annual revenue per worker is about $370,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major rental and leasing product categories are heavy construction equipment (35 percent of revenue); aircraft, steamships and tugboats, and railroad cars (20 percent); and office equipment and computers (5 percent). Other rental product categories include machinery; lawn and garden equipment; audio/visual, motion picture, and theatrical equipment; and medical equipment.
Businesses rent rather than buy equipment due to the equipment's high cost or to meet a temporary business need. Commercial rental companies typically don't operate store-front facilities and are located in industrial zones. Company sites are generally about three acres and have a storage yard for the equipment, a maintenance center, offices, and, sometimes, a showroom. Companies can stock hundreds of items...
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