The global power rental market size reached US$ 19.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 28.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.74% during 2023-2028.
Power rental refers to the facility of temporarily renting power plants or generators for supplying energy to industrial units. It delivers functioning power equipment along with various scalable components, which are installed in power stations. It also offers reliability, flexibility, speed and cost-effectiveness to businesses for coping with brief shortages of power. The power rental services are aimed to stabilize utility power grids and provide additional energy to industries and support communities. Owing to this, it finds extensive application across the construction, mining, and oil & gas industries.
2. What is the expected growth rate of the global power rental market during 2023-2028?
3. What has been the impact of COVID-19 on the global power rental market?
4. What are the key factors driving the global power rental market?
5. What is the breakup of the global power rental market based on the equipment type?
6. What is the breakup of the global power rental market based on the fuel type?
7. What is the breakup of the global power rental market based on the power rating?
8. What is the breakup of the global power rental market based on the application?
9. What is the breakup of the global power rental market based on the end use industry?
10. What are the key regions in the global power rental market?
11. Who are the key players/companies in the global power rental market?
Power rental refers to the facility of temporarily renting power plants or generators for supplying energy to industrial units. It delivers functioning power equipment along with various scalable components, which are installed in power stations. It also offers reliability, flexibility, speed and cost-effectiveness to businesses for coping with brief shortages of power. The power rental services are aimed to stabilize utility power grids and provide additional energy to industries and support communities. Owing to this, it finds extensive application across the construction, mining, and oil & gas industries.
Global Power Rental Market Trends:
The rising demand for uninterrupted power supply along with rapid industrialization across the globe are the key factors driving the market growth. The increasing instances of unreliable power supply generated through small-scale power grids and limited access to the main transmission network has catalysed the demand for rental generators across the utility and manufacturing industries. Furthermore, there is a growing requirement for scalable rental equipment that can overcome the problems associated with voltage sags & swells, and power outages. Additionally, rising awareness regarding the benefits of outsourcing power equipment is also impacting the market positively. Power rental systems enables consumers to obtain equipment according to their requirements in a cost-effective manner. Moreover, the implementation of favourable government initiatives to expand metro and airport networks, along with the construction of hotels and shopping malls, are further increasing the demand for power rental across both the developed and emerging nations. Other factors, including the adoption of natural gas-based power generators and the increasing deployment of renewables as an alternative power source to reduce carbon emissions, are projected to drive the market further.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global power rental market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on equipment type, fuel type, power rating, application and end use industry.Breakup by Equipment Type:
- Generator
- Transformer
- Load Bank
- Others
Breakup by Fuel Type:
- Diesel
- Natural Gas
- Others
Breakup by Power Rating:
- Up to 50 kW
- 51 -500 kW
- 501 -2,500 kW
- Above 2,500 kW
Breakup by Application:
- Peak Shaving
- Standby Power
- Base Load/Continuous Power
Breakup by End Use Industry:
- Utilities
- Oil & Gas
- Events
- Construction
- Mining
- Data Centers
- Others
Regional Insights:
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Russia
- Italy
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Others
Competitive Landscape:
The report has also analyzed the competitive landscape of the market, with some of the key players being Aggreko Plc, Caterpillar, Inc., Atlas Copco Group, Cummins, Inc., United Rentals, Inc., HIMOINSA S.L., Horizon Acquisition (Horizon Power Systems), The Hertz Corporation, Generac Power Systems, Wacker Neuson SE, Wärtsilä Oyj Abp, Speedy Hire Plc, Smart Energy Solutions (SES), and SoEnergy International, Inc.Key Questions Answered in This Report
1. What was the size of the global power rental market in 2022?2. What is the expected growth rate of the global power rental market during 2023-2028?
3. What has been the impact of COVID-19 on the global power rental market?
4. What are the key factors driving the global power rental market?
5. What is the breakup of the global power rental market based on the equipment type?
6. What is the breakup of the global power rental market based on the fuel type?
7. What is the breakup of the global power rental market based on the power rating?
8. What is the breakup of the global power rental market based on the application?
9. What is the breakup of the global power rental market based on the end use industry?
10. What are the key regions in the global power rental market?
11. Who are the key players/companies in the global power rental market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis
2 Scope and Methodology
4 Introduction
5 Global Power Rental Market
6 Market Breakup by Fuel Type
7 Market Breakup by Equipment Type
8 Market Breakup by Power Rating
9 Market Breakup by Application
10 Market Breakup by End Use Industry
11 Market Breakup by Region
12 SWOT Analysis
14 Porter’s Five Forces Analysis
15 PESTEL Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Aggreko Plc
- Caterpillar Inc.
- Atlas Copco Group
- Cummins Inc.
- United Rentals Inc.
- HIMOINSA S.L.
- Horizon Acquisition (Horizon Power Systems)
- The Hertz Corporation
- Generac Power Systems
- Wacker Neuson SE
- Wärtsilä Oyj Abp
- Speedy Hire Plc
- Smart Energy Solutions (SES)
- SoEnergy International Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 143 |
Published | July 2023 |
Forecast Period | 2022 - 2028 |
Estimated Market Value ( USD | $ 19.2 Billion |
Forecasted Market Value ( USD | $ 28.7 Billion |
Compound Annual Growth Rate | 6.9% |
Regions Covered | Global |
No. of Companies Mentioned | 14 |