Overview
Riwal is a prominent player in the rental and sale of powered access equipment, providing services for aerial work platforms, telehandlers, and forklifts. Established in 1968, Riwal is headquartered in the Netherlands and operates across 14 nations spanning Europe, the Middle East, and India. The company is committed to ensuring safety, efficiency, and sustainability, reflected in its offering of industrial training courses.
Recent Developments
On March 11, 2024, Riwal was strategically acquired by Boels Rental, significantly increasing Boels Group's portfolio with approximately €310 million in revenue and an addition of nearly 1,200 employees, thereby enhancing their market footprint in the access equipment rental sector.
Leadership
The executive management team at Riwal is led by CEO Pedro Torres, who will be stepping down on January 1, 2025, with a transition period lasting until April 1, 2025. Key figures in the leadership team include René Timmers, the Chief Financial Officer known for driving financial growth over his 12.5-year tenure, and Johan van Klinken, the Chief Commercial Officer appointed in 2023, who oversees the company's commercial strategy.
Strategic Initiatives
Riwal has distinguished itself through its sustainability initiatives, notably receiving the IAPA Sustainability Award for electrifying large telescopic boom lifts. Their commitment to digital innovation is evident with the 2016 launch of My Riwal, a cutting-edge customer platform providing real-time data on machine location, utilization, and CO2 emissions.
Operations and Market Presence
Riwal manages a fleet comprising 20,000 machines and operates an international network of 65 branches. This network enables them to deliver customized solutions across a variety of industries including agriculture, airlines, and logistics. Notably, Riwal is a dealer for JLG, enhancing their global reach and market presence.
Industry Overview
Riwal operates within the equipment rental and aerial work platform (AWP) industry, which is experiencing a significant shift towards rental services to support global construction activities. The global AWP market, valued at approximately USD 9.4 billion in 2023, is projected to grow at a compound annual growth rate (CAGR) of 6.28% from 2024 to 2032, aiming for a market size of USD 16.4 billion by 2032. This growth trajectory is driven by heightened safety requirements and increased infrastructure maintenance fueled by global smart city initiatives.
Key Competitors
1. United Rentals, Inc.
- Founded: 1997
- Headquarters: Stamford, Connecticut, USA
- Market Share: Leading the market with a 16% share in North America as of 2022.
- Financials (2024): Revenue - USD 15.35 billion; Operating Income - USD 4.065 billion; Net Income - USD 2.575 billion.
- Global Reach: Operating over 1,625 locations worldwide, including 1,504 in North America, 38 in Europe, 23 in Australia, and 19 in New Zealand.
- Strategy: Aggressive acquisition strategy with diversified services, including tools and aerial rentals.
2. Sunbelt Rentals, Inc.
- Founded: 1983
- Headquarters: Fort Mill, South Carolina, USA
- Network: Over 1,250 locations with a team of more than 20,000 employees.
- Service Offering: Diverse specialty rental services across multiple industries, emphasizing customer service and comprehensive solutions.
3. Herc Rentals Inc.
- Founded: 1965
- Headquarters: Bonita Springs, Florida, USA
- Revenue (2023): USD 3.2 billion
- Growth Strategy: Post-2016 spin-off, focusing on diversifying revenue streams through new product segments, operating in the USA and Canada.
4. H&E Equipment Services, Inc.
- Founded: 1961
- Headquarters: Baton Rouge, Louisiana, USA
- Network: Over 160 locations nationwide.
- Market Position: One of the largest and fastest-growing rental service providers in the U.S., recognized for high service standards.
5. Loxam Group
- Founded: 1967
- Headquarters: Paris, France
- Market Standing: European leader in construction equipment rental with a strong presence, reported revenue of €2.6 billion in 2024.
- Strategic Focus: Carbon reduction initiatives and expansion across geographical and market segments.
Recent Market Dynamics
The equipment rental industry has witnessed a surge in demand for innovative AWPs, with a focus on technological advancements, such as electric-powered and remote-operated systems that enhance safety and operational efficiency.
Strategic Insights
To remain competitive, Riwal must align its strategies with the industry trends of technological advancements and expanded service offerings. Close monitoring of competitor strategies, such as United Rentals' acquisition strategy and Loxam's sustainability efforts, will be crucial for Riwal to capitalize on emerging opportunities within both traditional and new markets.
