Power Rental Market Forecast Emphasizing Natural Gas and Hybrid Generator Adoption

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."

Power Rental Market Size is valued at USD 10.9 Bn in 2024 and is predicted to reach USD 18.9 Bn by the year 2034 at a 5.8% CAGR during the forecast period for 2025-2034.

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Power leasing, commonly known as "power on demand," presents several strategic advantages compared with the outright purchase of permanent power generation equipment. Rental power solutions offer greater operational flexibility to address fluctuating capacity requirements, reduce installation and maintenance expenditures, enable rapid deployment, and significantly limit initial capital outlay. As a result, industrial operators are increasingly adopting rental generators to supplement existing power systems, mitigate grid reliability issues, and support temporary or project-based power needs.

The global power rental market is positioned for strong growth, supported by continued industrial expansion and the rising demand for dependable, uninterrupted power supply. Government investments in large-scale infrastructure projects-particularly metro rail systems and airport development-along with increased construction activity across the hospitality and retail sectors, are further driving demand for temporary power solutions in both developed and emerging economies. Moreover, the growing adoption of natural gas-based generators and the integration of renewable energy technologies as part of decarbonization initiatives are expected to play a pivotal role in accelerating market growth over the forecast period.

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:
Substantial market growth is expected to be driven by non-OECD economies, particularly China and India. Although global power generation capacity has expanded significantly, the development of supporting transmission and distribution (T&D) infrastructure has lagged, resulting in persistent reliability challenges such as frequent outages and voltage fluctuations. Developing regions continue to experience widespread power disruptions, while even advanced economies face issues including brownouts and grid instability. These factors are reinforcing the need for alternative and temporary power solutions.

Key Challenges:
Diesel generator sets remain a widely adopted option for backup power across sectors such as manufacturing and oil & gas, owing to their rapid deployment, relatively low upfront investment, compact footprint, and ease of installation. However, their high operating expenses-largely attributable to fuel consumption, which represents a substantial portion of total lifecycle costs-pose a significant constraint. Furthermore, the ongoing decline in solar power costs is reducing the economic attractiveness of diesel-based systems for backup and temporary power applications.

Regional Insights:
North America is expected to command a significant share of the global power rental market and to record a healthy compound annual growth rate over the forecast period. Market expansion in the United States and Canada is being supported by strong manufacturing output, ready access to raw materials, and competitive labor conditions, sustaining demand for temporary power solutions. In addition, the Middle East and Africa are emerging as high-growth regions, driven by increased construction activity and continued expansion of the oil & gas sector, which are collectively strengthening 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

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This release was published on openPR.