Power Rental Market Outlook, Size, Demand, Trends and Forecast 2023-2028

The latest report published by IMARC Group, titled "Power Rental Market Report by Fuel Type, Equipment Type, Power Rating, Application, End Use Industry and Region 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global power rental market size reached US$ 19.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.74% during 2023-2028.

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Power Rental Market Trends and Drivers:

Increasing global energy consumption is driving the need for additional power sources, including rental power solutions. In addition to this, aging power grids and infrastructure require backup power to maintain reliability thus proliferating the market growth. Besides this, urban expansion often outpaces the development of permanent power infrastructure, necessitating temporary power solutions thus bolstering market growth. In line with this, ongoing construction projects, especially in developing regions, rely on rental power for on-site electricity needs thereby fueling market growth.

Furthermore, expanding industries and manufacturing facilities require supplemental power during peak production periods thereby contributing to the market growth. Moreover, power rental is crucial for disaster recovery, as it provides emergency electricity when conventional grids are disrupted thus fostering market growth. Power is needed in remote areas where permanent infrastructure is impractical or unavailable thus fostering the market growth. Additionally, large-scale events, such as sports events and concerts, require rental power for lighting, sound, and temporary facilities thus boosting market growth.

Key Market Segmentation:

The report has segmented the global power rental market based on fuel type, equipment type, power rating, application, end use industry and region.

Breakup by Fuel Type:

• Diesel
• Natural Gas
• Others

Breakup by Equipment Type:

• Generator
• Transformer
• Load Bank
• Others

Breakup by Power Rating:

• Up to 50 kW
• 51 -500 kW
• 501 -2,500 kW
• Above 2,500 kW

Breakup by Application:

• Peak Shaving
• Standby Power
• Base Load/Continuous Power

Breakup by End Use Industry:

• Utilities
• Oil & Gas
• Events
• Construction
• Mining
• Data Centers
• Others

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape with Key Players:

The competitive landscape of the power rental market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• 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)
• SoEnergy International, Inc.

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Industry Definition and Application:

Power rental refers to the practice of leasing or renting electrical power generation equipment for temporary or emergency use. This equipment typically includes generators, transformers, and related infrastructure. Power rentals have several application areas such as hospitals, data centers, construction sites, events, industries, and mining and oil operations. This equipment avoids the high capital costs of purchasing and maintaining power equipment. It can easily scale power capacity up or down based on specific needs. This equipment can also ensure uninterrupted power supply in critical situations and offers eco-friendly options like low-emission generators. The properties of this equipment include scalability, fuel options, remote monitoring, noise control, and maintenance.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.