Who are rental’s biggest customers?

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Construction-related contractors account for a large part of the revenue generated by most equipment rental businesses around the world. 

For obvious reasons, it is in the best interests of the rental industry that these contractors have a strong pipeline of projects and of course, sales. 

The good news is that, according to International Construction’s ICON 200, which looks at sales results for construction-related contractors for 2023, sales among the top contractors has hit its highest ever figure at US$2.122 trillion.

There are a number of interesting findings outside of the headline of growth, such as the strength of Chinese companies despite major problems with the country’s real estate sector and completion of much of the large-scale infrastructure projects there.

Perhaps underpinning this is the fact that China-based contractors accounted for 43.8% of the total sales of the table, a decline of just 0.2% from last year. 

With that in mind, does the ICON 200 reveal a change in the dominance of China-based contractors inside the top 10? Keep reading to find out......

10: D R Horton ($35.4 billion)

Moves into the top 10 having placed 11 last year. That means the company is now the highest placed US-based company on the list, overtaking Lennar.

9: ACS ($38.6 billion)

Moving down one place is ACS, the largest contractor in Spain and third largest in Europe based on the ICON 200. Created the second largest civil engineering and construction company in North America earlier this year when it merged its US subsidiary with a subsidiary of Hochtief.

8: Shanghai Construction Group ($42.5 billion)

Major Chinese construction and engineering company based in Shanghai and founded in 1953. It is involved in a wide range of construction projects, including infrastructure development (roads, bridges, and tunnels), high-rise buildings, residential and commercial complexes, and industrial facilities.

7: Bouygues’ Construction Divisions ($49.9 billion)

Second largest contractor in Europe with a number of global subsidiaries, two of which were recently awarded a HKD3.9 billion (€468 million) contract to extend the Tung Chung line of the Hong Kong Metro.

6: Vinci ($75.3 billion)

Largest contractor in Europe once again and the highest non-Chinese company on the list. Gaining on fifth placed Metallurgical Corporation, but not enough to overtake them. Recently appointed Patrick Sulliot as its new chairman.

5: Metallurgical Corporation of China ($88.3 billion)

Founded in 1982, Metallurgical Corporation of China (MCC) is one of China’s largest engineering contractors and metallurgical firms. It is a key player in China’s Belt and Road Initiative, contributing to infrastructure projects and resource development worldwide.

4: China Communications Construction ($105.5 billion) 

Founded in 2005 as a result of a merger between China Road and Bridge Corporation (CRBC) and China Harbour Engineering Company (CHEC), China Communications Construction specialises in infrastructure construction and design. Also involved in port development in Africa, road construction in Southeast Asia, and bridge projects in Europe.

3: China Railway Construction Corporation ($158.8 billion)

Primarily focused on railway infrastructure, but is also involed in projects involving ighways and bridges, buildings and urban development, equipment manufacturing and real estate development and investment.

2: China Railway Group ($176.4 billion)

Specialises in construction and engineering, particularly in railway infrastructure. Also takes on international projects that include railways, roads, bridges, and other infrastructure in countries across Asia, Africa, Europe, and Latin America. 

1: China State Construction & Engineering ($317.4 billion)

China-based state-owned enterprise under the administration of the State Council of China that generated sales of $317.4 billion last year. To put that in some perspective, that is comfortably more than the sales of the firms ranked number ten to six on the list combined.

Click here for the full ICON 200 list