Press release
Power Rental Market Technology Adoption and Forecast 2026 to 2035
Power Rental Market
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, often referred to as "power on demand," offers distinct strategic advantages over the outright acquisition of permanent power generation assets. Rental power solutions provide enhanced operational flexibility to accommodate variable capacity requirements, reduce installation and maintenance costs, enable rapid deployment, and minimize upfront capital expenditures. Consequently, industrial operators are increasingly leveraging rental generators to supplement existing power infrastructure, address grid reliability challenges, and fulfill temporary or project-specific energy needs.
The global power rental market is poised for significant growth, driven by ongoing industrial development and rising demand for reliable, uninterrupted electricity supply. Government-led investments in large-scale infrastructure projects-such as metro rail networks and airport expansions-alongside heightened construction activity in the hospitality and retail sectors, are further stimulating demand for temporary power solutions across both developed and emerging markets. Additionally, the increasing adoption of natural gas-fueled generators and the integration of renewable energy technologies to support decarbonization initiatives are anticipated to further accelerate market expansion 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:
The power rental market is projected to witness substantial growth, particularly in non-OECD economies such as China and India. While global power generation capacity has expanded considerably, the development of corresponding transmission and distribution (T&D) infrastructure has not kept pace, resulting in persistent reliability challenges, including frequent outages and voltage fluctuations. Developing regions continue to face widespread power interruptions, while even advanced economies encounter issues such as brownouts and grid instability. These conditions underscore the ongoing demand for alternative and temporary power solutions.
Key Challenges:
Diesel generator sets remain a predominant choice for backup power across sectors including manufacturing and oil & gas, due to their rapid deployment, relatively low capital expenditure, compact footprint, and ease of installation. However, high operating costs-driven primarily by fuel consumption, which constitutes a significant portion of total lifecycle expenses-represent a major limitation. Additionally, the continued decline in solar power costs is diminishing the economic competitiveness of diesel-based systems for backup and temporary power applications.
Regional Insights:
North America is anticipated to maintain a significant share of the global power rental market, with a healthy compound annual growth rate projected over the forecast period. Expansion in the United States and Canada is supported by robust manufacturing output, ready availability of raw materials, and favorable labor conditions, sustaining demand for temporary power solutions. Meanwhile, the Middle East and Africa are emerging as high-growth regions, propelled by intensified construction activity and ongoing development in the oil & gas sector, collectively bolstering 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
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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.
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