Press release
Power Rental Market to Grow with a 7.1% CAGR and Expected to Cross USD 14.2 Billion in Size by 2029 | Key Players - Aggreko, United Rentals, Caterpillar, Herc Rental, Ashtead Group
Based on previous market performance, the Power Rental market is expected to reach USD 14.2 billion in size by 2028. With a 7.1% CAGR.Power Rental Market Overview:
Rental of generator sets for power generation that run on gas, diesel, or any other fuel is referred to as power rental. It provides operational power equipment as well as a variety of scalable components for power stations. In areas with limited grid infrastructure, such as the Asia Pacific and Latin America regions, power on hire is often favoured. One of the largest users of rental electricity is the mining industry. Because mining sites are not connected to the grid, they rely on generator sets that are rented for a specified period of time.
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Rental power is widely used in the mining industry. Because the mines are not connected to the power grid, they rely on generator sets that are rented on a temporary basis. When the existing power supply system, such as purchased generator sets, needs to be maintained, or when there is a need for extra power during peak load demand, or when there is a brief outage, rental generators are in moderate demand in manufacturing enterprises. As a result, sectors with insufficient grid power are largely reliant on the growth of the power rental business.
Based on our expert's analysis the players that are leading the market includes: Aggreko (UK), United Rentals (US), Caterpillar (US), Herc Rental (US), Ashtead Group (UK), and Atlas Copco (Sweden). Other players in the market include Speedy Hire (UK), Cummins (US), Bredenoord (UK), Kohler (US), Multiquip (US), SoEnergy (US), Allmand Brothers (US), Generac Power (US), Wacker Neuson (Germany), and more and Others.
The whole market is segmented as follows:
Power Rental Market by Fuel Type, 2019-2028, (In USD Billion)
Diesel
Natural Gas
Others (Dual Fuel, Hybrid, And HFO)
Power Rental Market by Power Rating, 2019-2028, (In USD Billion)
Up To 50 Kw
51 To 500 Kw
501 To 2,500 Kw
Above 2,500 Kw
Power Rental Market by Application, 2019-2028, (In USD Billion)
Peak Shaving
Standby Power
Base Load/Continuous Power
Power Rental Market by Application, 2019-2028, (In USD Billion)
Utilities
Oil & Gas
Events
Construction
Mining
Data Centers
Others
Industry Developments:
APR Energy Ltd secured contracts for eight turbines totaling 265 MW at three locations in Mexicali, Baja California, Mexico, in May 2020. APR Energy is a global provider of deployable, large-scale, and fast-track mobile power generation equipment.
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Power Rental Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Power Rental Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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