Power Rental Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030

The global power rental market is anticipated to flourish at a compounded annual growth rate (CAGR) of 6.0% over the forecast period of 2022-2030.

 

Power rental involves the leasing of equipment or systems, including generator sets, load banks, electrical distribution systems, etc., temporarily to provide uninterrupted power supply to various industries. These systems are primarily used to stabilize utility power grids & provide additional energy to industries during power cut-outs or other shortages. These systems also offer cost-effectiveness, high speed, flexibility, and reliability, to businesses and are therefore utilized for applications across several industry verticals.

                              

GROWTH DRIVERS

Over the last few years, the demand for power rental has surged dramatically across the developed and emerging nations around the globe. The increasing digitalization across the telecom industry along with the growing implementation of favorable government initiatives to expand metro & airport networks and increasing construction of hotels & shopping malls in their respective regions are among the primary factors attributable to this enhancing demand which are also leading to the overall expansion of the global power rental market.

 

Additionally, the players present in the global power rental market are seen to be increasingly focusing on introducing new & innovative power rental equipment in the market to fulfill the diverse power requirements of end-users. Some recent developments include the advent of custom-built equipment with reduced fuel costs and pollution levels that offer improved security while operating in harsh conditions. The development of such equipment and other advancements by market players are anticipated to bode well for the growth of the global power rental market during the forecast period.

 

Furthermore, the ever-growing population base worldwide, the growing urbanization activities, the rising instances of unreliable power supply generated through small-scale power grids, the enhancing demand for continuous power supply across industries, the surging investments in construction & oil & gas sectors, the aging power infrastructure across the globe, the rapid infrastructural growth, and the burgeoning awareness pertaining to the benefits of outsourcing power rental systems are among other major factors driving the growth of the global power rental market.

 

On the other hand, the implementation of stringent regulations regarding emission reduction in fossil-fuel-powered equipment is expected to hinder the growth of the global power rental market to a certain extent during the forecast period of 2022-2030.

 

POWER RENTAL MARKET SEGMENTATION

By Fuel Type

·         Diesel

·         Natural Gas

·         Others

 

By Power Rating

·         <75 KVA

·         75-375 KVA

·         375-750 KVA

·         >750 KVA

 

By Application:

·         Peak Shaving

·         Standby Power

·         Base Load/ Continuous Load

 

By Equipment

·         Generators

·         Load Banks

·         Transformers

·         Others

 

By Rental Type

·         Retail Rental

·         Project Rental

 

By End-User

·         Utilities

·         Oil & gas

·         Events

·         Construction

·         Mining

·         Manufacturing

·         Telecom & Datacenter

·         Others

 

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

 

Based on fuel type, the global power rental market is segmented into diesel, natural gas, and others. The diesel segment led the market in 2021 and is expected to continue to lead and also garner the highest growth in the market during the forecast period of 2022-2030. The high adoption of diesel generators in commercial establishments & manufacturing facilities due to the benefits of higher operational efficiency, easy availability & storage, longer life-span, and cost-effectiveness is the major factor attributed to the large share and high growth of this segment.

 

Based on application, the global power rental market is segmented into peak shaving, standby power, and base load/continuous load. The base load/continuous load segment held the largest share of the market in 2021. The segment is projected to remain dominant over the forecast period of 2022-2030, primarily due to the high application of power rental across different sectors, including construction, mining, oil, and gas, that need constant and uninterrupted electricity supply and also an add-on backup power solution.

 

REGIONAL OUTLOOK

The power rental research report offers detailed analysis and forecasts for five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

 

In terms of region, the North American region is estimated to dominate the global power rental market during the forecast period of 2022-2030. The high demand for uninterrupted power supply, the aging grid infrastructure in the region, the increasing occurrence of natural calamities & data center outages, and the rising investments across industries in the region are among the major factors driving market growth in this region. The U.S. and Canada are the leading contributors to the market in the region.

 

The Asia Pacific region is predicted to register the highest CAGR in the global power rental market during the forecast period of 2022-2030. The growth of the market in the region can be ascribed to the proliferating demand for stable power supply, the growing digitization, the rising investments in mining-related exploratory activities, the fast-paced growth of commercial infrastructure due to the increasing support of the government, and the fast-paced expansion of the telecom sector in the region. India, China, Japan, South Korea, Thailand, and Indonesia are the major contributors to the market in the Asia Pacific region.

 

The report also identifies the country market outlook for power rental, covering country-wise market size, growth rate, market share, segmentation, leading players, current trends, and opportunities.

 

KEY COMPANIES IN POWER RENTAL MARKET

The research report offers a competitive analysis of prominent companies operating in the global power rental market. Some of the leading players profiled in the market research report include:

·         Kohler

·         Caterpillar, Inc.

·         Aggreko Plc

·         Atlas Copco Group

·         Cummins, Inc.

·         The Hertz Corporation

·         Generac Power Systems

·         Wacker Neuson SE

·         United Rentals

·         Herc Rental

·         Multiquip

·         HIMOINSA

·         Other Players