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The U.S. generator rental market was valued at USD 2.58 billion in 2023 and is expected to grow at a CAGR of 3.85% from 2023 to 2029. Speak directly to the analyst to clarify any post sales queries you may have.
MARKET DRIVERS
Rising Frequency of Power Outages: The rising power outages, whether due to severe weather events, grid vulnerabilities, or maintenance activities, are a crucial driver for generator rentals. Over the past 20 years, the number of power outages caused by bad weather has increased, placing pressure on the aging electrical grid in the U.S. The frequency and length of power outages have grown due to this. Businesses and industries recognize the importance of reliable backup power sources to ensure uninterrupted operations, creating a heightened demand for generator rental services.Rising Events and Temporary Power Needs: Hosting events, festivals, and temporary installations creates a substantial demand for generator rentals in the U.S. Events ranging from music festivals to corporate gatherings require reliable power sources for lighting, sound systems, catering equipment, and other essential components. Generator rental companies cater to this demand by providing temporary power solutions tailored to the unique requirements of various events, contributing to the market's overall growth.
U.S. GENERATOR RENTAL MARKET INSIGHTS
- The diesel generator rental market has the largest market share by revenue in the fuel type segment in 2023. Factors such as high reliability, ease of use, and high demand from large-scale industries have propelled the growth of diesel generator rental in the region. The segment is expected to maintain dominance due to the high demand from players in several sectors with large-scale operations. Despite reservations and resistance from environmental groups, regulators and localities reluctantly approve diesel as a primary source of power generation due to low electric grid reliability.
- Based on the power rating, the < 75KVA market is growing significantly, with the fastest CAGR of 5.46% during the forecast period. Generators with a capacity of less than 75KVA are increasing significantly due to their versatility and suitability for small-scale applications. They are commonly used for events, residential backup power, and smaller construction projects across the U.S., providing a reliable power source for modest energy demands.
- The continuous power application segment is growing at the highest CAGR of 4.32%% during the forecast period. Continuous power generators are often deployed in industrial settings where a reliable and uninterrupted power supply is essential for constant manufacturing. These generators ensure that industrial operations run seamlessly without disruptions. As these generators provide power without disruptions, the demand for continuous generators increases.
- The construction sector by end-users accounted for the largest revenue share owing to the high adoption by the construction industry to provide temporary power solutions to construction sites. The U.S. generator rental market caters to remote and off-grid applications, including construction sites in remote locations, mining operations, and events held in areas with limited access to the main power grid.
VENDOR LANDSCAPE
The U.S. generator rental market report contains exclusive data on 25 vendors. Aggreko, Ashtead Group, Atlas Copco, Herc Rentals, and United Rentals are some of the key players in the U.S. generator rental market. The competitive landscape characterizes the U.S. generator rental market, prompting key players to engage in strategic partnerships and collaborations. Companies are forming alliances to expand their regional footprint, offer a comprehensive range of services, and enhance their technological capabilities.SEGMENTATION & FORECAST
Fuel Type (Revenue)
- Diesel
- Natural Gas
- Others
Power Rating (Revenue)
- < 75KVA
- 75-375KVA
- 376-1000KVA
- >1000KVA
Application (Revenue)
- Standby Power
- Continuous Power
- Peak Shaving
End-User (Revenue)
- Construction
- Retail
- Oil & Gas
- Mining
- Events
- Utilities
- I.T. & Data Centers
- Manufacturing
- Others
VENDORS LIST
Key Vendors
- Aggreko
- Ashtead Group
- Atlas Copco
- Herc Rentals
- United Rentals
Other Prominent Vendors
- Aksa Power Generation
- AquaTech USA
- Carrier
- Caterpillar
- Cummins
- Daikin
- Doosan Portable Power
- Duthie Power Services
- Generac Power Systems
- Grandwatt
- H&E Equipment Services
- HIMOINSA
- Home Depot
- Kohler
- Nishio
- Prime Power Rentals
- R.S. Equipment
- Red-D-Arc
- Taylor Power Systems
- Trinity Power
KEY QUESTIONS ANSWERED
1. How big is the U.S. generator rental market?2. What is the projected growth rate of the U.S. generator rental market?
3. What are the rising trends in the U.S. generator rental market?
4. Who are the key players in the U.S. generator rental market?
Table of Contents
Chapter - 1: U.S. Generator Rental Market Overview
Chapter - 2: U.S. Generator Rental Market Projected Revenue
Chapter - 3: U.S. Generator Rental Market Segmentation Data
Chapter - 4: U.S. Generator Rental Market Prospects & Opportunities
Chapter - 5: U.S. Generator Rental Market Industry Overview
Chapter - 6: Appendix
List of Exhibits
List of Tables
Companies Mentioned
- Aggreko
- Ashtead Group
- Atlas Copco
- Herc Rentals
- United Rentals
- Aksa Power Generation
- AquaTech USA
- Carrier
- Caterpillar
- Cummins
- Daikin
- Doosan Portable Power
- Duthie Power Services
- Generac Power Systems
- Grandwatt
- H&E Equipment Services
- HIMOINSA
- Home Depot
- Kohler
- Nishio
- Prime Power Rentals
- R.S. Equipment
- Red-D-Arc
- Taylor Power Systems
- Trinity Power
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 77 |
| Published | March 2024 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value ( USD | $ 2.58 Billion |
| Forecasted Market Value ( USD | $ 3.24 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | United States |
| No. of Companies Mentioned | 25 |
