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Power Rental Market 2023 : By Component, Application, Trends And Forecast 2032 | Atlas Copco, Caterpillar, United Rentals, Cummins, Aggreko
Power Rental Market Growth
The Business Research Company's Power Rental Global Market Report 2023 identifies Rapid industrialization as the major driver for the Power Rental market's growth in the forecast period. There has been developed in various sectors which include, information technology, manufacturing, and construction. Each of these sectors requires a continuous supply of power to carry on their operations smoothly. For instance, in October 2021, India's Prime Minister Narendra Modi unveiled a $1.3 trillion master plan for multimodal connectivity to construct infrastructure to reduce logistic costs and boost the Indian economy.
The global power rental market size grew from $9.98 billion in 2022 to $10.91 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The power rental market size is expected to grow to $16.2 billion in 2027 at a CAGR of 10.4%.
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Major competitors in the Power Rental market are Atlas Copco, Caterpillar, United Rentals, Cummins, Aggreko, Generac, Kohler, Ashtead Group, Herc Rentals, Shenton, Bredenoord, Sudhir Power, Wagner Equipment, GMMCO Limited, and Energyst. Atlas Copco, Caterpillar, United Rentals, Cummins, Aggreko, Generac, Kohler, Ashtead Group, Herc Rentals, Shenton, Bredenoord, Sudhir Power, Wagner Equipment, GMMCO Limited, and Energyst.
A key trend in the Power Rental market includes Partnerships and collaborations are gaining. Major players are adopting advanced technologies to strengthen their positions. For instance, in November 2021, DT Hughes Group, a UK-based building material supplier, entered into a partnership with Sunbelt Rentals, a US-based company that rents general construction equipment, and power generators and accessories. The cooperation allows DT Hughes to get cost-effective and environmentally friendly power rental systems, plant gear, and equipment for the excavation, restoration, jointing, and cable installation projects.
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https://www.thebusinessresearchcompany.com/report/power-rental-global-market-report
The Power Rental market is segmented -
By Equipment: Generators, Transformers, Load Banks, Other Equipments
By Application: Standby Power, Peak Shaving, Base Load/Continuous Power
By Fuel Type: Diesel, Natural Gas, Other Fuel Types
By End-Users: Utilities, Oil And Gas, Construction, Manufacturing, Metal And Mining, IT And Data centers, Corporate And Retail, Events, Other End-Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Power Rental market.
The Business Research Company's "Global Power Rental Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Power Rental Market Include:
1. Executive Summary
2. Power Rental Market Characteristics
3. Power Rental Market Trends And Strategies
4. Power Rental Market - Macro Economic Scenario
5. Power Rental Market Size And Growth
……
26. Africa Power Rental Market
27. Power Rental Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Power Rental Market
29. Power Rental Market Future Outlook and Potential Analysis
30. Appendix
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