Power Rental Market: Competitive Landscape & Impact Analysis Of Drivers On Market Forecast by 2024

The global power rental market is estimated to value $9,167.6 million in 2017 and is projected to witness a CAGR of 10.3% during the forecast period. Rising GDP and population of the world and increasing demand for power from emerging economies are some of the factors driving the market growth. Rental power is defined as temporary power generated by rental systems for meeting power requirements. They are generally used in industries that are often located remotely, without any access to permanent electricity. These power systems or generators are also used in situations of grid failure, power blackout, and disaster emergency.

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The power rental market has also been categorized into three power ratings: up to 50 kW, 51 kW–500 kW, and 501 kW–2,500 kW. Generators of power rating 51 kW–500 kW are estimated to contribute more than 45.0% share in the market in 2017. This can be attributed to their large-scale utilization in several residential and commercial applications.

Diesel and gas generator emissions are regulated by federal or state organizations. For instance, in the U.S., the Environmental Protection Agency (EPA) has made the Clean Air Act (CAA) for regulating air emissions from stationary or mobile sources. In India, the Ministry of Environment, Forest and Climate Change has made rules to regulate emissions from diesel engines. Diesel-based generators are a prominent source of air and noise pollution. Thus, stringent environmental regulations associated with diesel-based generators are expected to restrain the power rental market growth during the forecast period.

The Middle East & Africa (MEA) region has been the largest power rental market globally and is also anticipated to be the fastest-growing market in the coming years. Increasing demand for rental power in the oil and gas, events, construction, and mining sectors is driving the market growth in the region.

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Gas-based generators are considered environment- and pocket-friendly, as they release less emissions and create negligible noise besides being more affordable as compared to traditional fuel-based generators. They are clean, reasonable, easily available, and sustainable. The aforementioned factors clearly indicate the growing popularity of gas and hybrid generators as sustainable sources of electricity for facilities devoid of power supply. Thus, companies and consumers are increasingly preferring hybrid generators over diesel generators.

Some of the major players operating in the global power rental market are Aggreko PLC, APR Energy, Caterpillar Inc., United Rentals Inc., Cummins Inc., Herc Holdings Inc., Atlas Copco AB, Ashtead Group PLC, Al Faris Group, and Quippo Infrastructure Equipment Limited.

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