Global Power Rental Market Set to reach $15,855.94 Million by 2031, at 5.2% CAGR
Category : Materials And Chemicals | Published Date : Oct 2024 | Type : Press Release
Power Rental Market Scope & Overview:
As per the Consegic Business Intelligence newly published report the Global Power Rental Market was valued at USD 9,476.00 Million in 2022 and is projected to grow at a CAGR of 5.2%, reaching USD 15,855.94 Million by 2031. Power rental refers to the temporary leasing of power generation equipment such as generators, transformers, load banks, and distribution panels. These services provide reliable and flexible solutions for industries, events, and emergencies requiring uninterrupted power supply.
This report comprises the Power Rental Market Share, Size & Industry Analysis, By Fuel Type (Diesel, Natural Gas, and Others), By Power Rating (Below 75 kVA, 75-375 kVA, 375-750 KVA, and Above 750 kVA), By Application (Standby Power, Peak Shaving, and Base Load/Continuous Power), By End User (Metal & Mining, Construction, Manufacturing, Oil & Gas, IT & Data Centers, Events, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
This report contains detailed information on Power Rental Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The increasing demand for continuous power supply and electrification in industrial sectors, especially during infrastructure projects and emergency situations, is a key driver for the power rental market. Additionally, the rising demand for power in remote areas, particularly in the mining sector, is further fueling market growth.
Segmental Analysis :
Based on fuel type, the market is segmented into diesel, natural gas, and others.
- The diesel segment held the largest share in 2022, driven by the high availability and economic cost of diesel as a fuel source.
- The natural gas segment is expected to grow at the highest rate due to its lower emissions and cost-effectiveness compared to other non-renewable fuels.
Based on power rating, the market is divided into below 75 kVA, 75-375 kVA, 375-750 KVA, and above 750 kVA.
- The above 750 kVA segment accounted for the largest market share in 2022 due to the demand for heavy-duty generators in the industrial and commercial sectors.
- The below 75 kVA segment is expected to grow at the fastest pace, driven by its use in smaller-scale commercial applications such as offices and shops.
Based on application, the market is divided into standby power, peak shaving, and base load/continuous power.
- Base load/continuous power held the largest market share in 2022, with demand driven by industries requiring uninterrupted power to maintain business operations.
- Peak shaving is expected to grow at the fastest rate as industries seek to reduce peak demand and avoid capacity leveling installations.
Based on the end-user, the market is segmented into metal & mining, construction, manufacturing, oil & gas, IT & data centers, events, and others.
- The metal & mining segment held the largest market share in 2022 due to the demand for power rentals in remote locations where grid access is limited.
- The manufacturing segment is expected to grow at the fastest rate, supported by the rising need for reliable power in global manufacturing sectors.
Based on regions, the global market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
- Asia Pacific accounted for the largest market share in 2022, driven by the growth of industrial and commercial sectors, particularly in China and India.
- Middle East & Africa is expected to witness the fastest growth, supported by the growing construction industry and increasing demand for power rental solutions.
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 15,855.94 Million |
| CAGR (2024-2031) | 5.2% |
| By Fuel Type | Diesel, Natural Gas, Others |
| By Power Rating | Below 75 kVA, 75-375 kVA, 375-750 KVA, Above 750 kVA |
| By Application | Standby Power, Peak Shaving, Base Load/Continuous Power |
| By End-User | Metal & Mining, Construction, Manufacturing, Oil & Gas, IT & Data Centers, Events, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Power Rental Industry:
- Aggreko
- Atlas Copco
- Shenton Group
- APR Energy
- NIDS GROUP
- Caterpillar Inc.
- Cummins Inc.
- Kohler-SDMO
- Pump Power Rental
- Sudhir Power Ltd.
- Modern Hiring Service
- Global Power Supply
- FG Wilson
Recent Industry Developments :
- In May 2020, Atlas Corp. and APR Energy Ltd. signed a contract for eight turbines and 265 MW across three sites in Mexicali, Baja California, Mexico, continuing APR's projects in the region for the second consecutive year.
- In October 2020, Aggreko announced the availability of its solar power rental service, optimized for off-grid applications to provide clean energy solutions.
