Press release
A Deep Dive into Power Rental Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Power Rental
The power rental market is experiencing growth due to swift industrialization. Swift industrialization pertains to the quick transition of an economy from concentrating on agriculture to focusing on manufacturing. Progress has been observed in different industries such as information technology, manufacturing, and construction. These sectors require a consistent power supply for fluid operations. For instance, Eurostat, a government statistical agency based in Luxembourg, reported in July 2023 that industrial production in the European area saw a 0.2% rise. Additionally, a 0.1% rise was reported in the European Union between May and April 2023. Consequently, the need for power rental is expected to increase along with the rising trend of swift industrialization and higher investment in infrastructure development in major developing countries.
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What growth opportunities are expected to drive the power rental market's CAGR through 2034?
The size of the power rental market has experienced a swift expansion over the recent years. The market is projected to escalate from a value of $12.11 billion in 2024 to a worth of $13.34 billion in 2025, with a compound annual growth rate (CAGR) of 10.2%. This remarkable growth during the previous period has been primarily driven by factors such as infrastructure and construction development, lack of utility power, the events and entertainment industry, off-grid and remote locations, and an upsurge in mining operations.
The size of the power rental market is predicted to swiftly expand in the upcoming years, reaching $19.76 billion in 2029 with a compound annual growth rate (CAGR) of 10.3%. This predicted surge in the next few years is linked to the development of smart cities, the expansion of healthcare infrastructure, military operations, the construction of data centers, and global events and exhibitions. Key trends anticipated during this forecast period involve rental generator technologies, mobile and modular power units, adaptable rental contract models, initiatives towards energy efficiency and emission reduction, along with the integration of remote monitoring and telematics.
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What are the emerging trends shaping the future of the power rental market?
Leading firms in the power rentals market are sharpening their competitive edge by introducing innovative products. For example, Caterpillar Inc., an American construction company, unveiled the Cat XQ330 mobile diesel generator set in February 2023. This highly-efficient, low-emission mobile diesel generator is suitable for standby and prime uses. It uses the Cat C9.3B engine and operates silently, featuring a robust and weather-resistant design which allows for easy transportation and maintenance. The generator's advanced EMCP 4.4 control panel further adds to its reliability and flexibility, making it an excellent choice for various power needs.
Which growth-oriented segments of the power rental market are leading the industry's development?
The power rental market covered in this report is segmented -
1) By Equipment: Generators, Transformers, Load Banks, Other Equipment
2) By Application: Standby Power, Peak Shaving, Base Load/Continuous Power
3) By Fuel Type: Diesel, Natural Gas, Other Fuel Types
4) By End-Users: Utilities, Oil And Gas, Construction, Manufacturing, Metal And Mining, IT And Data centers, Corporate And Retail, Events, Other End-Users
Subsegments:
1) By Generators: Diesel Generators, Gas Generators, Hybrid Generators
2) By Transformers: Step-Up Transformers, Step-Down Transformers, Auto Transformers
3) By Load Banks: Resistive Load Banks, Reactive Load Banks, Resistive-Reactance Load Banks
4) By Other Equipment: Distribution Panels, Cables And Connectors, Power Distribution Units (PDUs)
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What regions are leading the charge in the power rental market?
Asia-Pacific was the largest region in the power rental market in 2024. North America is expected to be the fastest-growing region in the power rental market share during the forecast period. The regions covered in the power rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the power rental market?
Major companies operating in the power rental market include Caterpillar Inc., Cummins Inc., Atlas Copco AB, United Rentals Inc., Ashtead Group plc, Kohler Co, Wärtsilä Oyj, Generac Power Systems Inc., Herc Rentals Inc., Hertz Equipment Rental Corporation, Wacker Neuson SE, Aggreko plc, Multiquip Inc., APR Energy Ltd., FG Wilson (Engineering) Ltd., Smart Energy Solutions Ltd., Modern Hiring Service Ltd., Speedy Hire plc, Power Electrics Bristol, Rental Solutions & Services, Bredenoord Exploitatiemij B.V., Pump Power Rental, Global Power Supply Ltd., Jassim Transport & Stevedoring Co K.S.C.C., Newburn Power Rental Ltd., ProPower Rental, Shenton Group plc, So Energy Trading Limited
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What Is Covered In The Power Rental Global Market Report?
•Market Size Forecast: Examine the power rental market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the power rental market for a structured understanding.
•Key Players Overview: Analyze major players in the power rental market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the power rental market.
•Segment Contributions: Evaluate how different segments drive overall growth in the power rental market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the power rental market.
•Industry Challenges: Identify potential risks and obstacles affecting the power rental market.
•Competitive Landscape: Review strategic developments in the power rental market, including expansions, agreements, and new product launches.
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