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Power Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Report Format: PDF+Excel | Report ID: SR112023A1639
Market Overview 2022-2027:
The global power rental market size reached 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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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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:
IMARC Group 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 2022-2027. Our report has categorized the market based on equipment type, fuel type, power rating, application and end use industry.
Breakup by Equipment Type:
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- Generator
- Transformer
- Load Bank
- Others
Breakup by Fuel Type:
- Diesel
- Natural Gas
- Others
Diesel currently is the most popular fuel type across the globe, owing to its higher energy density as compared to natural gas.
Breakup by Power Rating:
- Up to 50 kW
- 51 –500 kW
- 501 –2,500 kW
- Above 2,500 kW
The 51 –500 kW power rating segment dominates the market.
Breakup by Application:
- Peak Shaving
- Standby Power
- Base Load/Continuous Power
At present, base load/continuous power represents the leading application segment.
Breakup by End Use Industry:
- Utilities
- Oil & Gas
- Events
- Construction
- Mining
- Data Centers
- Others
The Utilities industry accounts for the majority of the market share.
Regional Insights:
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- 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
North America exhibits a clear dominance in the market, holding the largest market share.
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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Equipment Type, Fuel Type, Power Rating, Application, End Use Industry, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States , Canada, Germany, United Kingdom, France, Russia, Italy, China, Japan, South Korea, India, Australia, Brazil, Mexico, Saudi Arabia, United Arab Emirates, South Africa |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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