Press release
Power Rental Market to Record an Exponential by 2024 - 2031 | Aggreko PLC, United Rentals, Inc., APR Energy
Power Rental Market
Global power rental market is expected to grow from USD 9.8 Billion in 2022 to USD 15.15 Billion by 2030, exhibiting a CAGR of 5.6% during the forecast period 2023-2030.
Market Dynamics:
The global power rental market is expected to witness significant growth over the forecast period, owing to growing infrastructure development projects worldwide. Large scale infrastructure projects require continuous power supply, which is driving the demand for rental power equipment for construction sites as well as utility needs. Furthermore, increasing investments in industrial expansion projects across Asia Pacific and Middle East are also fueling the market growth. Additionally, frequent power outages due to grid instability is prompting end users to rely on power rental systems for backup, which is another factor driving the market.
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Fluctuating Fuel Prices Pose Challenge for Power Rental Business Model
Diesel generators are the most commonly used power source in rental power applications due to their operating flexibility and fuel availability. However, volatility in diesel prices poses a major challenge for rental power providers whose business models are heavily dependent on predictable fuel costs. Sharply rising diesel prices compress margins for rental companies and make their service offerings relatively less attractive. It also discourages long-term rental contracts where fuel price fluctuations cannot be fully transferred to customers. Global fuel price instability due to geopolitical tensions and supply concerns negatively impact the profitability and growth potential of diesel-based power rental businesses. Mitigating fuel price risks remains a key restraint that rental power companies need to systematically address.
Adoption of Hybrid and Telematics Solutions Present High-growth Opportunity
To enhance the efficiency, sustainability and performance monitoring of rental power fleets, manufacturers are increasingly integrating hybrid and telematics technologies. Hybrid systems capable of utilizing multiple fuel sources provide fuel flexibility. They help insulate rental businesses from steep swings in single fuel prices. Telematics allow remote asset tracking and enable performance optimization through data-driven decisions. As rental fleet sizes grow globally due to rising infrastructure spending and energy needs of industries, there is a massive opportunity for technology providers to equip these fleets with advanced hybrid and telematics solutions. Their adoption can significantly boost operational savings and service offerings of rental companies. This represents a high-growth market that manufacturers are aggressively targeting.
Growing Shift Towards Rental-based Distributed Energy Resources Trend
Traditionally, large centralized power plants have been the mainstay of global energy systems. However, factors like rising energy demand, integrating renewable energy, depleting natural resources and increasing cost of new power generation capacity are driving a shift towards distributed energy resources (DER). DER refers to small-scale power generation technologies located near the end-users. Power rental solutions perfectly suit the distributed energy model as they deliver flexibility and scalability. Many utilities and industrial facilities are replacing their baseload generation needs with bankable rental power capacity to avoid large upfront CAPEX. This transition towards reliability contracts and pay-per-use rental models signifies an important long-term trend favoring further growth of power rental markets globally.
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Top Companies Featured in This Report:
β Aggreko PLC
β United Rentals Inc.
β APR Energy
β PLC
β Caterpillar Inc.
β Cummins Inc.
β Hertz Equipment Rental Corporation
β Generac Power Systems
β Rental Solutions & Services LLC.
Market Segmentation:
By Product Type:
β By Fuel: Diesel, Gas, Others
By Applications:
β By Application: Peak Shaving, Base Load/ Continuous, Stand by
Key Regions/Countries Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
π What was the size of the Power Rental Market in 2024, and what is the projected value by 2031?
π What is the present global market landscape for the Power Rental Market?
π What strategies offer optimal opportunities for growth maximization in the business?
π What recent trends are shaping the Power Rental Market?
π How does the market share of Power Rental Market revenue, sales, and size vary across specific geographical regions?
π Who are the prominent industry players in the Power Rental Market?
π Which segment of the Power Rental Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Power Rental sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
π Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/973
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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