Power Rental Market Outlook
Power rental services offer temporary electricity supply for construction purposes, mine excavation projects, oil and gas exploration activities, etc. Some of the most common types of power rental solutions available are welding generators, diesel or gas generators, mobile lighting towers, distribution boards, and cables.
The global power rental market size reached a value of US$ 17.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 26.9 Billion by 2027, exhibiting a growth rate (CAGR) of 7.02% during 2022-2027.
These solutions offer reliability, flexibility, speed, and cost-effectiveness to businesses for coping with brief shortages of power. Owing to these benefits, power rental services find extensive applications across diverse industries, such as construction, mining, oil & gas, etc.
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Power Rental Market Trends:
The escalating demand for continuous and uninterrupted power supply for various critical application areas, including data centers, nuclear power plants, hospitals, fire stations, etc., is currently driving the market for power rentals. Furthermore, the introduction of several favorable government initiatives to expand airport and metro networks, along with the growing construction of retail infrastructures, is also catalyzing the demand for power rental solutions. Various other factors, including the increasing adoption of natural gas-based power generators and the rising utilization of renewable energy as an alternative source of power to minimize carbon emissions, are projected to further bolster the demand for power rental services across the globe in the coming years.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The report has also analyzed the competitive landscape of the market, with some of the key players.
- 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.
Key Market Segmentation:
The report has categorized the market based on equipment type, fuel type, power rating, application, and end use industry.
Breakup by Equipment Type:
- Load Bank
Breakup by Fuel Type:
- Natural Gas
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:
- Oil & Gas
- Data Centers
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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