Power Rental Market Key Players Analysis - Aggreko (UK), Caterpillar (US), Herc Rental (US), Ashtead Group (UK), Atlas Copco (Sweden).

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Power Rental Market- (By Fuel Type (Diesel, Natural Gas, Others), By Application (Standby Power, Peak Shaving, Base Load/Continuous Power), By Equipment, By Rental Type (Retail Rantal, Project Rental), By Power Rating (Up to 50 kW, 51 kW - 500 kW, 501 kW - 2500 kW, Above 2500 kW), By End-User (Utilities, Metal & Mining, Oil & Gas, Construction, Manufacturing, IT And Data Centres, Corporate & Retail, Events, Others), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Global Power Rental Market is valued at USD 10.9 Bn in 2024, and it is expected to reach USD 18.9 Bn by the year 2034, with a CAGR of 5.8% during a forecast period of 2025-2034.

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Power leasing, also known as power on demand, presents several advantages compared to the outright purchase of power equipment. Rental generators offer enhanced flexibility in power capacity, lower maintenance and installation expenses, immediate availability, and reduced initial capital outlay.

Manufacturers frequently utilize generator rentals to supplement existing power systems, address gaps in grid infrastructure, or fulfill temporary power requirements. The expanding industrial sector, coupled with an increasing need for continuous and reliable power supply, is projected to drive growth in the global power rental market. Furthermore, supportive government initiatives aimed at developing metro and airport infrastructure, alongside the rise in construction activities within the hotel and retail sectors, are contributing to heightened demand for power rental services across both developed and emerging economies. Additionally, the growing adoption of natural gas-powered generators and the integration of renewable energy sources to mitigate carbon emissions are expected to further accelerate market expansion worldwide.

List of Prominent Players in the Power Rental Market:
• Aggreko (UK)
• Caterpillar (US)
• Herc Rental (US)
• Ashtead Group (UK)
• Atlas Copco (Sweden)
• Cummins (US)
• Bredenoord (UK)
• Kohler (US)
• Multiquip (US)
• SoEnergy (US)
• Allmand Brothers (US)
• Generac Power (US)
• Wacker Neuson (Germany)

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Market Dynamics:
Drivers:
Significant growth in the market is anticipated from non-OECD countries, particularly China and India. Although global electricity generation capacity has increased rapidly, the expansion of transmission and distribution (T&D) infrastructure has lagged behind, resulting in reliability challenges such as power outages and voltage fluctuations. Developing regions frequently experience blackouts and power interruptions, while developed countries contend with issues including brownouts and voltage instability.

Challenges:
Diesel generator sets are widely favored as backup power solutions across industries like manufacturing and oil & gas, owing to their rapid startup, low upfront investment, compact footprint, and straightforward installation. However, the high operational expenses-primarily driven by fuel costs, which constitute over 80% of the total lifecycle cost-pose a significant challenge. With the declining costs of solar energy, diesel generators are becoming less economically competitive as backup power options.

Regional Trends:
The North American power rental market is projected to secure a substantial revenue share and exhibit a robust compound annual growth rate (CAGR) in the coming years. The United States and Canada stand out as key and rapidly expanding markets, propelled by growth in the manufacturing sector, availability of raw materials, and competitive labor costs. Consequently, demand for rental power solutions is expected to remain strong, reinforcing North America's position as a leading region in the global market. Additionally, the Middle East and Africa are emerging as high-growth markets for power rental services, driven by ongoing expansion in construction and the oil & gas sectors.

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Recent Developments:
• In Jan 2022, The Kohler Company Acquired Heila Technologies in Order to Expand Its Offerings Regarding Clean Energy Management. Within the Kohler Power Group, Heila Technologies will function as an independent entity in its own right.
• In November 2021, Caterpillar Inc. launched a three-year partnership with Microsoft and Ballard Power Systems to showcase a power system with large-format hydrogen fuel cells to supply reliable and sustainable backup power for Microsoft data centres.

Segmentation of Power Rental Market-
By Fuel Type-
• Diesel
• Natural Gas
• Others
By Application-
• Standby Power
• Peak Shaving
• Base Load/Continuous Power
By Equipment-
• Generators
• Transformers
• Load Banks
• Others
By Rental Type-
• Retail Rental
• Project Rental
By Power Rating-
• Up to 50 kW
• 51 kW - 500 kW
• 501 kW - 2500 kW
• Above 2500 kW
By End-Users-
• Utilities
• Oil & gas
• Construction
• Manufacturing
• Metal & Mining
• IT and Data Centers
• Corporate & Retail
• Events
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/power-rental-market/2124

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This release was published on openPR.