Press release
Power Rental Market Top Companies Study - Aggreko (UK), Caterpillar (US), Herc Rental (US), Ashtead Group (UK), Atlas Copco (Sweden).
Power Rental Market
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, often referred to as "power on demand," offers numerous advantages over the traditional acquisition of permanent power equipment. The use of rental generators provides enhanced operational flexibility in meeting varying power capacity needs, minimizes installation and maintenance costs, ensures rapid deployment, and significantly lowers upfront capital investment. Industrial operators increasingly rely on these rental solutions to complement existing power infrastructure, address shortcomings in electricity grids, or meet short-term power demands.
The global power rental market is poised for robust growth, driven by the continued expansion of the industrial sector and the escalating need for reliable and uninterrupted power supply. Government-led infrastructure development initiatives-particularly in the areas of metro rail networks and airport modernization-combined with rising construction activity in the hospitality and retail industries, are further stimulating demand for temporary power solutions in both mature and developing markets. Additionally, the increasing preference for natural gas-powered generators and the growing integration of renewable energy technologies as part of carbon reduction strategies are expected to serve as key catalysts for market acceleration in the coming years.
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
Growth Drivers:
Significant market expansion is expected to originate from non-OECD nations, particularly China and India. While global electricity generation capacity has grown rapidly, the development of corresponding transmission and distribution (T&D) infrastructure has not kept pace, leading to ongoing reliability concerns such as frequent power outages and voltage irregularities. Developing regions often face widespread blackouts and supply interruptions, while even developed economies encounter issues such as brownouts and voltage instability.
Key Challenges:
Diesel generator sets remain the preferred choice for backup power across industries including manufacturing and oil & gas, due to their quick deployment, relatively low capital requirements, compact design, and ease of installation. However, their high operating costs-primarily driven by fuel consumption, which accounts for over 80% of the total lifecycle expenditure-represent a significant barrier. As the cost of solar power continues to decline, diesel generators are becoming less viable from an economic standpoint for backup energy applications.
Regional Insights:
North America is anticipated to hold a prominent share of the global power rental market and is projected to experience a strong compound annual growth rate (CAGR) in the coming years. The United States and Canada, in particular, are witnessing accelerated market growth fueled by robust manufacturing activity, ample raw material availability, and favorable labor costs. As a result, the demand for temporary power solutions in the region is expected to remain high. Additionally, the Middle East and Africa are emerging as dynamic growth markets, driven by increased construction activity and expansion within the oil & gas industry, further contributing to the global demand for power rental services.
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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
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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