Power Rental Market Size, Competitive Analysis, Growth Factors and Forecast 2023-2028

IMARC Group, a leading market research company, has recently released a report titled “Power Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global power rental market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Power Rental Market?

The global power rental market size reached US$ 19.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.74% during 2023-2028.

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What is Power Rental?

Power rental refers to the leasing of power equipment and machinery, typically generators, to industries or organizations that require temporary power solutions. Power rental services offer an economical and flexible alternative to the purchase of power equipment, particularly for short-term needs or situations where the demand for power is variable or unpredictable. These rental services can range from small portable generators to large industrial machines capable of powering significant operations. Companies often turn to power rental when facing power outages, performing work at construction sites, responding to natural disasters, conducting large-scale events, or operating in remote areas where a regular power grid connection is unavailable. Power rental equipment is available in different configurations to cater to various power needs, and can run on different fuels, such as diesel, gas, or hybrid energy systems. They are often environmentally friendly, meet strict emissions regulations, and are frequently more energy-efficient than older, permanent installations. Moreover, power rental providers typically offer additional services, such as setup, maintenance, and round-the-clock support, ensuring that customers receive a steady power supply without having to worry about technical difficulties or downtime. Thus, power rental services are an integral part of many industries, providing flexibility, reliability, and cost-effectiveness in managing their power needs.

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What are the Growth Prospects and Trends in the Power Rental Industry?

The increasing demand for energy represents one of the key factors driving the growth of the market across the globe, This, coupled with the rising consumption of energy due to rapid industrialization, population growth, and increasing urbanization is acting as a major growth-inducing factor. This growth often outpaces the construction of new power plants or the expansion of power grids which is leading to a gap that power rental services can fill, thus boosting the growth of the market. In line with this, the rising construction and infrastructure development is contributing to the growth of the market. Construction sites, events, and other temporary locations often need power but lack access to the grid. Power rentals are essential in these situations. In the aftermath of natural disasters or during emergencies, the normal power infrastructure might be compromised which is leading to an immediate need for temporary power solutions. In addition to this, renting power equipment is often more cost-effective than purchasing it, especially for short-term use or where the demand for power is variable. This cost-effectiveness drives many businesses to opt for rental solutions which is fueling the growth of the market. Apart from this, the rising oil & gas and mining industries, along with their increasing operation in remote areas where the grid connection is not available or reliable are driving the demand for power rental solutions which is propelling the growth of the market. Other factors, such as events and entertainment industry, power outages and grid failures, and regulations and environmental concerns, are creating a positive outlook for the market across the globe.

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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.

What is Included in Market Segmentation?

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.

What is Included in Market Segmentation?

The report has categorized the market based on equipment type, fuel type, power rating, application, end use industry and region.

Breakup by Equipment Type:

• Generator
• Transformer
• Load Bank
• Others

Based on Fuel Type:

• Diesel
• Natural Gas
• Others

Analysed 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

Based on End Use Industry:

• Utilities
• Oil & Gas
• Events
• Construction
• Mining
• Data Centers
• Others

Regional Insights:

• 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 (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• 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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