MoatScopeMoatScope

Distributors & Equipment Rental

Industrial, electrical, electronics and specialty distributors; equipment rental and leasing.

Companies
90
With a moat
33%
Average quality
35
0 wide moat · 30 narrow moat · 60 no moat · Open in screener →
Updated 27 Sep 2026

Distributors & Equipment Rental covers industrial, electrical, plumbing, technology and specialty distributors, equipment-rental companies and aircraft lessors. MoatScope covers 88 companies here. None has a wide moat; 27 have a narrow moat and 61 none.

How the industry makes money

Distributors earn a margin on moving huge numbers of products from manufacturers to contractors and businesses quickly and reliably. Rental companies earn on keeping equipment fleets busy, and aircraft lessors earn lease payments from airlines.

Where the moats are

Switching costs, cost advantages and efficient scale each appear in 15 to 17 of the 27 moat-rated companies: dense branch networks, purchasing scale and services built into customers' operations.

The narrow-moat group includes United Rentals, W.W. Grainger, Fastenal, Ferguson, Sunbelt Rentals, AerCap and TD Synnex. Companies without a moat include LKQ and DXP Enterprises. Fastenal scores 75 on MoatScope's quality scale.

What wears moats down

Industrial and construction cycles drive volumes, online channels pressure prices on standard products, and rental fleets sit idle when projects slow.

What to watch

  • Industrial and construction activity.
  • Pricing and gross margins.
  • Rental fleet utilization.

Moat ratings and quality scores on this page update as companies report. Price versus fair value for every company in the industry is in the screener.

Markets

MoatScope splits Distributors & Equipment Rental into 4 markets. Each table ranks the businesses in one market by revenue and shows each one's share of the market's total: companies filed under this industry, the segments of companies filed elsewhere that compete in it, and the largest companies MoatScope doesn't cover, such as private companies and companies listed outside the US. Each market's total comes from a cited source and covers the geography its businesses compete in (a national market counts only US revenue). A company that runs several businesses is split by the segments it reports.

Technology distributors

Distribute computers, components and software.

18 businesses MoatScope covers, ranked by revenue. No reliable figure for this market's total yet, so shares aren't shown.

#BusinessRevenue
1SNX · TD SYNNEX CORP$62.5B
2INGM · Ingram Micro Holding Corp$52.6B
3ARW · ARROW ELECTRONICS, INC.$30.9B
4CDW · CDW Corp$22.4B
5AVT · AVNET INC$22.2B
6NSIT · INSIGHT ENTERPRISES INC$8.2B
7SCSC · SCANSOURCE, INC.$3.0B
8CNXN · PC CONNECTION INC$2.9B
9PLUS · EPLUS INC$2.4B
10XRX · Xerox Holdings Corp
IT Solutions · filed under Computer Hardware & Storage
$761M

Industrial & building distributors

Distribute industrial supplies, plumbing, HVAC, electrical and building products.

US market · $1.11T total revenue in 2025 · source: US Census Bureau Monthly Wholesale Trade. Shares are of the whole market, including companies MoatScope doesn't cover; company revenue is for the fiscal year closest to 2025. US merchant wholesalers of construction materials, hardware, plumbing, HVAC and industrial machinery (Census).

#BusinessMarket shareRevenue
1FERG · Ferguson Enterprises Inc. /DE/2.8%$30.8B
2WCC · WESCO INTERNATIONAL INC
US revenue
1.6%$17.4B
3GWW · W.W. GRAINGER, INC.
US revenue
1.3%$14.4B
4HD · HOME DEPOT, INC.
SRS and other distribution · filed under Specialty Retail
1.1%$12.7B
5GPC · GENUINE PARTS CO
Industrial Parts (Motion)
0.8%$8.9B
6Rexel (US)
Listed outside the US (Euronext Paris) · Company reports
0.8%$8.3B
7CNM · Core & Main, Inc.0.7%$7.6B
8QXO · QXO, Inc.0.6%$6.8B
9FAST · FASTENAL CO
US revenue
0.6%$6.8B
10WSO · WATSCO INC
US revenue
0.6%$6.6B
All other companies84.5%$938.8B

Equipment rental & leasing

Rent and lease equipment, aircraft and containers.

US market · $113.3B total revenue in 2025 · source: US Census Bureau Quarterly Services Survey. Shares are of the whole market, including companies MoatScope doesn't cover; company revenue is for the fiscal year closest to 2025. US commercial and industrial equipment rental (Census).

#BusinessMarket shareRevenue
1URI · UNITED RENTALS, INC.
US revenue
13.0%$14.7B
2SUNB · Sunbelt Rentals Holdings, Inc.
US revenue
8.4%$9.5B
3EQPT · EquipmentShare.com Inc3.9%$4.4B
4HRI · HERC HOLDINGS INC
US revenue
3.6%$4.1B
5CTOS · Custom Truck One Source, Inc.
US revenue
1.7%$1.9B
6MGRC · MCGRATH RENTCORP0.8%$944M
7WLFC · WILLIS LEASE FINANCE CORP
US revenue
0.2%$206M
All other companies68.5%$77.6B

Auto parts distribution

Distribute replacement parts for cars and trucks.

4 businesses MoatScope covers, ranked by revenue. No reliable figure for this market's total yet, so shares aren't shown.

#BusinessRevenue
1GPC · GENUINE PARTS CO$15.4B
2LKQ · LKQ CORP$13.7B
3INEO · INNEOVA Holdings Ltd$58M
4CTNT · CHEETAH NET SUPPLY CHAIN SERVICE INC.$1M

Companies

CompanyMoatQualityMarket
URI
UNITED RENTALS, INC.
Narrow61Equipment rental & leasing13.0%$64.2B
GWW
W.W. GRAINGER, INC.
Narrow69Industrial & building distributors1.3%$62.1B
FAST
FASTENAL CO
Narrow75Industrial & building distributors0.6%$58.5B
FERG
Ferguson Enterprises Inc. /DE/
Narrow55Industrial & building distributors2.8%$43.8B
SUNB
Sunbelt Rentals Holdings, Inc.
Narrow54Equipment rental & leasing8.4%$31.1B
AER
AerCap Holdings N.V.
Narrow64Equipment rental & leasing—$25.0B
SNX
TD SYNNEX CORP
Narrow45Technology distributors—$19.8B
CDW
CDW Corp
Narrow44Technology distributors—$19.1B
GPC
GENUINE PARTS CO
Narrow42Auto parts distribution
+ 1 other market
—$17.9B
WCC
WESCO INTERNATIONAL INC
Narrow40Industrial & building distributors1.6%$16.7B
AIT
APPLIED INDUSTRIAL TECHNOLOGIES INC
Narrow63Industrial & building distributors0.4%$12.3B
WSO
WATSCO INC
Narrow60Industrial & building distributors0.6%$12.1B
ARW
ARROW ELECTRONICS, INC.
Narrow34Technology distributors—$11.0B
QXO
QXO, Inc.
Narrow35Industrial & building distributors0.6%$10.5B
CNM
Core & Main, Inc.
Narrow55Industrial & building distributors0.7%$7.9B
AVT
AVNET INC
Narrow40Technology distributors—$7.5B
MSM
MSC INDUSTRIAL DIRECT CO INC
Narrow59Industrial & building distributors0.3%$7.2B
INGM
Ingram Micro Holding Corp
Narrow39Technology distributors—$6.2B
POOL
POOL CORP
Narrow55Industrial & building distributors0.4%$6.1B
GATX
GATX CORP
Narrow47Industrial & building distributors<0.1%$5.8B
LKQ
LKQ CORP
None43Auto parts distribution—$5.4B
XMTR
Xometry, Inc.
Narrow25Industrial & building distributors<0.1%$5.2B
NSIT
INSIGHT ENTERPRISES INC
Narrow42Technology distributors—$4.8B
HRI
HERC HOLDINGS INC
Narrow47Equipment rental & leasing3.6%$4.2B
SITE
SiteOne Landscape Supply, Inc.
Narrow52Industrial & building distributors0.4%$4.1B
EQPT
EquipmentShare.com Inc
Narrow47Equipment rental & leasing3.9%$3.5B
RUSHB
RUSH ENTERPRISES INC \TX\
Narrow50Industrial & building distributors
+ 1 other market
<0.1%$3.5B
DNOW
DNOW Inc.
None27Industrial & building distributors0.2%$3.0B
DXPE
DXP ENTERPRISES INC
None41Industrial & building distributors0.2%$2.8B
MGRC
MCGRATH RENTCORP
Narrow62Equipment rental & leasing0.8%$2.7B
BCC
BOISE CASCADE Co
None34Industrial & building distributors
+ 1 other market
0.5%$2.6B
CENT
CENTRAL GARDEN & PET CO
None41Industrial & building distributors0.3%$2.6B
PLUS
EPLUS INC
None38Technology distributors—$2.4B
CNXN
PC CONNECTION INC
None35Technology distributors—$2.2B
PLBL
Polibeli Group Ltd
None8Industrial & building distributors<0.1%$2.1B
CTOS
Custom Truck One Source, Inc.
None34Equipment rental & leasing1.7%$2.1B
GCT
GigaCloud Technology Inc
None50Industrial & building distributors0.1%$2.1B
GIC
GLOBAL INDUSTRIAL Co
None47Industrial & building distributors0.1%$1.7B
DSGR
Distribution Solutions Group, Inc.
Narrow47Industrial & building distributors0.1%$1.6B
SCSC
SCANSOURCE, INC.
None34Technology distributors—$1.2B
ADIG
ADI GLOBAL DISTRIBUTION INC.
Narrow56Industrial & building distributors—$1.2B
GOLD
Gold.com, Inc.
None32Industrial & building distributors—†$1.1B
KRT
Karat Packaging Inc.
None46Industrial & building distributors<0.1%$1.1B
NPKI
NPK International Inc.
None37Industrial & building distributors<0.1%$930M
WLFC
WILLIS LEASE FINANCE CORP
None42Equipment rental & leasing0.2%$784M
TRNS
TRANSCAT INC
Narrow49Industrial & building distributors<0.1%$755M
EACO
EACO CORP
None47Technology distributors—$608M
CLMB
Climb Global Solutions, Inc.
None33Technology distributors—$594M
BXC
BlueLinx Holdings Inc.
None30Industrial & building distributors0.3%$570M
TITN
Titan Machinery Inc.
None30Industrial & building distributors0.2%$515M
WEYS
WEYCO GROUP INC
None50Industrial & building distributors<0.1%$498M
ZKH
ZKH Group Ltd
None27Industrial & building distributors0.1%$296M
RELL
RICHARDSON ELECTRONICS, LTD.
None30Technology distributors—$283M
EVI
EVI INDUSTRIES, INC.
None38Industrial & building distributors<0.1%$248M
AENT
ALLIANCE ENTERTAINMENT HOLDING CORP
None31Industrial & building distributors<0.1%$231M
HDSN
HUDSON TECHNOLOGIES INC /NY
None32Industrial & building distributors<0.1%$216M
ALTG
ALTA EQUIPMENT GROUP INC.
None27Industrial & building distributors0.2%$199M
CGTL
Creative Global Technology Holdings Ltd
None25Technology distributors—$120M
TLIH
Ten-League International Holdings Ltd
None30Industrial & building distributors<0.1%$110M
FSTJ
First America Resources Corp
None23Technology distributors—$60M
CAPS
Capstone Holding Corp.
None14Industrial & building distributors<0.1%$56M
SORA
AsiaStrategy
None26Industrial & building distributors<0.1%$50M
MWYN
Marwynn Holdings, Inc.
None15Industrial & building distributors<0.1%$48M
SMJF
SMJ International Holdings Inc.
None25Industrial & building distributors<0.1%$48M
BRIA
BrilliA Inc
None36Industrial & building distributors<0.1%$40M
VNOV
VitaNova Life Sciences Corp
None27Industrial & building distributors<0.1%$38M
RCT
RedCloud Holdings plc
None9Industrial & building distributors<0.1%$30M
JL
J-Long Group Ltd
None44Industrial & building distributors<0.1%$20M
NHTC
NATURAL HEALTH TRENDS CORP
None29Industrial & building distributors<0.1%$20M
NPT
Texxon Holding Ltd
None17Industrial & building distributors<0.1%$20M
SPPL
SIMPPLE LTD.
None15Industrial & building distributors<0.1%$20M
SPRS
SURGE COMPONENTS INC
None35Technology distributors—$19M
UUU
UNIVERSAL SAFETY PRODUCTS, INC.
None11Technology distributors—$16M
FGI
FGI Industries Ltd.
None12Industrial & building distributors<0.1%$14M
RWAX
TAP REAL ESTATE TECHNOLOGIES, INC.
None22Industrial & building distributors—$12M
AIXN
AiXin Life International, Inc.
None1Industrial & building distributors<0.1%$10M
INEO
INNEOVA Holdings Ltd
None25Auto parts distribution—$10M
MWG
Multi Ways Holdings Ltd
None26Industrial & building distributors<0.1%$10M
CLWT
EURO TECH HOLDINGS CO LTD
None27Industrial & building distributors<0.1%$10M
EDUC
EDUCATIONAL DEVELOPMENT CORP
None38Industrial & building distributors<0.1%$9M
CTNT
CHEETAH NET SUPPLY CHAIN SERVICE INC.
None9Auto parts distribution—$9M
FLZH
Flash Sports & Media Holdings, Inc.
None7Industrial & building distributors<0.1%$3M
SKFG
Stark Focus Group, Inc.
None3Industrial & building distributors—$1M
KAVL
Kaival Brands Innovations Group, Inc.
None32Industrial & building distributors<0.1%$1M
PASW
Ping An Biomedical Co., Ltd.
None15Industrial & building distributors<0.1%$1M
IPW
iPower Inc.
None11Industrial & building distributors<0.1%$1M
JEM
707 Cayman Holdings Ltd.
None19Industrial & building distributors<0.1%$1M
STRG
STARGUIDE GROUP, INC.
None9Industrial & building distributors<0.1%$1M
BGLC
BioNexus Gene Lab Corp
None19Industrial & building distributors<0.1%—
WDSP
World Scan Project, Inc.
None26Technology distributors——

90 companies.

Market share is a company's revenue in its main market (Market column) as a share of that market's total: every company in it, including private companies and companies listed outside the US (sources under each market above). Revenue is for the fiscal year closest to 2025, and a market that is national (such as US banking) counts only US revenue. Companies that run several businesses are split by the segments they report, and each segment counts in its own market. A dash means the market has no reliable total yet, or no revenue was reported for that year.

  • † Gold.com, Inc.: Reports the gross value of the assets it trades as revenue, so its share isn't comparable.

Price versus fair value for every company is in the screener.

Other Industrials industries

Aerospace & DefenseMachineryElectrical Equipment & PowerBuilding ProductsConstruction & EngineeringProfessional & Business ServicesCommercial & Environmental ServicesRailroadsTrucking, Logistics & DeliveryAirlinesMarine ShippingConglomerates & Holding Companies