Global Power Rental Market to Reach 26.9 Billion by 2027, Supported by the Advent of Environment-Friendly Solutions

December 09, 2019

According to the latest report by IMARC Group, titled “Power Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global power rental market reached a value of US$ 17.7 Billion in 2021. Power rental is a field of service that operates around the provision of temporary power equipment for commercial buildings, big infrastructure projects, heavy industrial construction, or mine development. This equipment can be used through various stages, from building construction and site development to pre-commissioning activities. Power rental service providers offer different safety devices that can perform effective and efficient fuel management procedures. Some of the power rental solutions include welding generators, cables, diesel generators, mobile lighting towers and distribution boards. As compared to purchased generators, rental power systems offer low installation costs, negligible maintenance, flexibility in required power rating and are readily available on short notice. Other than this, they are also beneficial in terms of better inventory control, reduced disposal and warehousing costs, decreased equipment obsolescence and higher cost control.

Global Power Rental Market Trends:

Over the past few years, end users in the industry have been gaining awareness about the numerous monetary benefits and functional advantages offered by rental power systems, which is the primary factor driving the market growth. Besides this, military and defense organizations across the globe have been undertaking initiatives to maintain homeland security with improved power back-up. This, coupled with the rising emission restrictions, has created growth opportunities for market players to expand their portfolio with environment-friendly solutions. Moreover, the inadequate power supply has become a hindrance to industrial development, thus enabling higher penetration of gensets, which is a combination of diesel and electrical generators. Owing to this, there has been a rise in the demand for power rental equipment. Also, escalating concerns regarding global warming have prompted service providers to promote and offer renewable power equipment to end users. For instance, the US-based automotive and energy company, Tesla, recently launched a solar rental program for residents of six states across the United States - New Mexico, Massachusetts, California, New Jersey, Connecticut and Arizona. Attributing to these factors, the market is projected to reach a value of US$ 26.9 Billion by 2027, growing at a CAGR of 7.02% during 2022-2027.

Market Summary:

  • On the basis of the equipment type, the market has been segmented into generators, transformers, load banks and others.
  • The market has been segregated based on the fuel type, which includes diesel, natural gas and others. Amongst these, diesel is the most preferred type of fuel in the market.
  • Based on the power rating, the market has been categorized as up to 50 kW, 51 – 500 kW, 501 – 2,500 kW, and above 2,500 kW. Amongst these, 501 – 2,500 kW is the most popular range of power ratings.
  • On the basis of the application, the market has been divided into peak shaving, standby power, and base load/continuous power. Currently, most power systems are rented for base load/continuous power.
  • The report has analyzed the market according to the end use industry, which includes utilities, oil & gas, events, construction, mining, data centers and other industries. Amongst these, power rental solutions are mainly used in the utility industry.
  • On the geographical front, North America represents the biggest market, accounting for the majority of the total market share. Other regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been examined, 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.


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group

USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal

Global Power Rental Market to Reach 26.9 Billion by 2027, Supported by the Advent of Environment-Friendly Solutions
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More