Power Rental Market to Reach US$ 31.46 Billion by 2033 at 8.7% CAGR; North America Leads with 38% Share - Key Players: Cummins, Herc Holdings, Ashtead Group

The global Power Rental Market reached US$ 14.82 billion in 2024 and is expected to reach US$ 31.46 billion by 2033, growing at a CAGR of 8.7% during the forecast period 2025-2033. Market growth is supported by increasing demand for temporary and backup power solutions across industries, utilities, and large-scale infrastructure projects, especially in regions with unreliable grid connectivity.

Power rental services provide flexible, cost-effective energy solutions using diesel, gas, and hybrid generator systems for applications such as construction sites, oil & gas operations, mining, events, manufacturing facilities, and emergency power restoration. Rising infrastructure development, frequent power outages, and the need for uninterrupted power during maintenance shutdowns are key growth drivers. In addition, the growing adoption of cleaner and fuel-efficient power rental systems, including gas-based and hybrid generators, along with investments in renewable-integrated rental solutions, is enhancing sustainability and expanding the market's long-term growth potential.

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The Power Rental Market refers to the global market for temporary power solutions, including generators and related equipment, provided on a rental basis to support construction, events, industrial operations, utilities, and emergency power needs.

Key Developments
✅ December 2025: Power rental service providers expanded fleets of hybrid and low-emission rental generators to meet growing demand for environmentally friendly temporary power solutions at events, construction sites, and disaster response operations.

✅ October 2025: Industrial and commercial clients increasingly adopted digital power rental platforms that integrate IoT monitoring, remote diagnostics, and predictive maintenance to improve uptime and reduce operational costs.

✅ September 2025: Utilities and grid operators utilized power rental solutions as grid support during peak demand periods, planned outages, and emergency load balancing, boosting market utilization beyond traditional construction and event use.

✅ July 2025: Rental companies introduced energy storage-enabled power systems combining generators with battery storage to deliver flexible, hybrid power solutions with improved fuel efficiency and emissions reduction.

✅ May 2025: Procurement of modular and containerized power rental units increased for temporary infrastructure projects, mining operations, and remote installations requiring rapid deployment.

✅ March 2025: Research and pilot programs demonstrated integration of renewable-powered rental systems-such as solar-plus-storage and biofuel generator combinations-as demand for sustainable temporary power grew.

Mergers & Acquisitions
✅ November 2025: A leading global equipment rental firm acquired a regional power rental specialist to expand its temporary power fleet, service network, and industry vertical reach.

✅ August 2025: A strategic partnership was formed between a major rental company and a renewable energy technology provider to co-develop hybrid power rental solutions incorporating battery storage and low-carbon fuel generators.

✅ June 2025: An infrastructure investment group acquired a power rental and equipment services provider to diversify holdings and support growth across construction, events, utilities, and emergency response markets.

Key Players
Herc Holdings Inc. | Worldwide Power Products, LLC | Rental Solutions & Services (RSS) | Cummins Inc. | Ashtead Group

Key Highlights
Herc Holdings Inc. - Holds 24.5% share, driven by a strong equipment rental network, diversified power rental offerings, and rising demand from construction and industrial projects.

Worldwide Power Products, LLC - Holds 16.8% share, supported by specialized expertise in generator rentals, sales, and power solutions for oil & gas, mining, and infrastructure sectors.

Rental Solutions & Services (RSS) - Holds 14.2% share, benefiting from a focused portfolio of power generation and load bank rental solutions and long-term contracts across utilities and industrial customers.

Cummins Inc. - Holds 27.1% share, leveraging its global leadership in engines and power systems, advanced generator technologies, and strong OEM and rental partnerships.

Ashtead Group - Holds 17.4% share, driven by its Sunbelt Rentals brand, extensive geographic footprint, and increasing demand for temporary power solutions in events, construction, and emergency applications.

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Market Drivers
- Increasing demand for reliable and uninterrupted power supply due to frequent grid instability and growing electricity consumption across commercial, industrial, and residential sectors.

- Rising investments in infrastructure development, construction projects, and large-scale events requiring temporary power solutions.

- Expansion of manufacturing, mining, oil & gas, and other industrial operations in emerging economies driving demand for rental power equipment.

- Growing adoption of rental power solutions by utilities and telecom providers to manage peak load, emergency outages, and maintenance shutdowns.

- Rising demand for cost-effective and flexible power solutions as an alternative to capital-intensive permanent installations.

- Supportive government regulations, public-private partnerships (PPPs), and incentives for energy access and electrification projects in under-served regions.

- Technological advancements in generator sets, hybrid systems (diesel + solar + battery), and remote monitoring improving efficiency, reliability, and uptime.

- Increasing adoption of low-emission and eco-friendly rental power units to align with sustainability goals and regulatory emissions standards.

Industry Developments
- Launch of advanced portable and modular power rental units with enhanced fuel efficiency, noise reduction, and quick deployability.

- Development of hybrid and renewable energy-integrated rental solutions combining solar, wind, battery storage, and traditional generator sets.

- Strategic partnerships and alliances between power rental providers, equipment manufacturers, and project developers to offer turnkey solutions.

- Expansion of rental fleets, service networks, and maintenance support to improve uptime and customer reach across geographies.

- Increased investment in IoT-based remote monitoring, predictive maintenance, and telematics to optimize performance and reduce operational costs.

- Mergers, acquisitions, and joint ventures aimed at expanding market presence, service portfolio, and access to specialized equipment.

- Introduction of flexible rental models such as pay-per-use, long-term leases, and subscription-based power solutions catering to diverse end users.

- Focus on low-emission and clean power alternatives including natural gas generators, biofuel-compatible units, and hybrid systems.

Regional Insights
North America - 38% share: "Driven by strong infrastructure development activities, frequent use of rental power in construction and events, robust industrial demand, and high adoption of hybrid rental solutions."

Europe - 27% share: "Supported by increasing infrastructure investments, stringent emissions standards encouraging low-emission rental units, growing temporary power needs for events and industrial applications, and advanced service networks."

Asia Pacific - 24% share: "Fueled by rapid urbanization, expanding industrial and construction sectors, rising energy demand, and growing reliance on rental power solutions for grid-independent and backup power."

Latin America - 6% share: "Boosted by growing infrastructure projects, expanding industrial operations, frequent need for temporary power solutions, and gradual adoption of cleaner rental power options."

Middle East & Africa - 5% share: "Driven by investments in energy infrastructure, ongoing construction and development activities, reliance on temporary and backup power systems, and increasing interest in hybrid and renewable rental solutions."

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Key Segments

By Fuel Type
Natural gas holds a significant share of the market, driven by its lower emissions, cost efficiency, and growing availability through pipeline infrastructure. Diesel remains a major fuel type, supported by its high reliability, widespread availability, and suitability for backup and remote power applications. Other fuel types, including biofuels and hybrid fuel systems, are gaining traction as end users seek cleaner and more flexible power solutions.

By Equipment Type
Generators account for the largest share of the market, driven by their central role in power generation across standby, prime, and peak shaving applications. Load banks represent a notable segment, supported by their use in testing, commissioning, and maintenance of power systems. Transformers contribute steadily, driven by the need for voltage regulation, power distribution, and integration with electrical infrastructure.

By Application
Emergency standby applications dominate the market, driven by the need for uninterrupted power supply in critical operations and facilities. Prime power applications hold a significant share, supported by demand in off-grid and remote locations where generators serve as the primary power source. Peak shaving is witnessing steady growth, driven by efforts to manage energy costs and reduce load during peak demand periods.

By End User
Oil and gas represent a major end-user segment, driven by continuous power requirements in exploration, drilling, and refining operations. Commercial complexes hold a substantial share, supported by the need for reliable backup power in malls, offices, and mixed-use developments. Public service institutions, including hospitals and educational facilities, rely heavily on backup power systems to ensure operational continuity. Mining & construction applications contribute notably due to remote site operations. Government & utilities represent a key segment, driven by infrastructure resilience and grid support requirements. Data centres & telecommunication account for a rapidly growing segment, driven by rising digitalization and the need for high-reliability power solutions. Other end users continue to support market expansion through diverse applications.

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