IMARC Group has recently released a new research study titled “Power Rental Market Report by Fuel Type, Equipment Type, Power Rating, Power Rating, Application, End Use Industry and Region 2023-2028”, offers a detailed analysis of the global power rental market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. The market size reached US$ 19.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.74% during 2023-2028.
Power rental refers to the practice of leasing or renting electrical power generation equipment for temporary or emergency use. This equipment typically includes generators, transformers, and related infrastructure. Power rentals have several application areas such as hospitals, data centers, construction sites, events, industries, and mining and oil operations. This equipment avoids the high capital costs of purchasing and maintaining power equipment. It can easily scale power capacity up or down based on specific needs. This equipment can also ensure uninterrupted power supply in critical situations and offers eco-friendly options like low-emission generators. The properties of this equipment include scalability, fuel options, remote monitoring, noise control, and maintenance.
Power Rental Market Trends:
Increasing global energy consumption is driving the need for additional power sources, including rental power solutions. In addition to this, aging power grids and infrastructure require backup power to maintain reliability thus proliferating the market growth. Besides this, urban expansion often outpaces the development of permanent power infrastructure, necessitating temporary power solutions thus bolstering market growth. In line with this, ongoing construction projects, especially in developing regions, rely on rental power for on-site electricity needs thereby fueling market growth.
Furthermore, expanding industries and manufacturing facilities require supplemental power during peak production periods thereby contributing to the market growth. Moreover, power rental is crucial for disaster recovery, as it provides emergency electricity when conventional grids are disrupted thus fostering market growth. Power is needed in remote areas where permanent infrastructure is impractical or unavailable thus fostering the market growth. Additionally, large-scale events, such as sports events and concerts, require rental power for lighting, sound, and temporary facilities thus boosting market growth.
Request a Free PDF Sample for More Detailed Market Insights:
https://www.imarcgroup.com/power-rental-market/requestsample
Key Market Segmentation:
The report has segmented the global power rental market based on fuel type, equipment type, power rating, application, end use industry and region.
Breakup by Fuel Type:
- Diesel
- Natural Gas
- Others
Breakup by Equipment Type:
- Generator
- Transformer
- Load Bank
- Others
Breakup by Power Rating:
- Up to 50 kW
- 51 –500 kW
- 501 –2,500 kW
- Above 2,500 kW
Breakup by Application:
- Peak Shaving
- Standby Power
- Base Load/Continuous Power
Breakup by End Use Industry:
- Utilities
- Oil Gas
- Events
- Construction
- Mining
- Data Centers
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape with Key Players:
The competitive landscape of the power rental market has been studied in the report with the detailed profiles of the key players operating in the market.
- Aggreko Plc
- Caterpillar, Inc.
- Atlas Copco Group
- Cummins, Inc.
- United Rentals, Inc.
- HIMOINSA S.L.
- Horizon Acquisition (Horizon Power Systems)
- The Hertz Corporation
- Generac Power Systems
- Wacker Neuson SE
- Wärtsilä Oyj Abp
- Speedy Hire Plc
- Smart Energy Solutions (SES)
- SoEnergy International, Inc.
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe Africa: +44-753-713-2163 | Asia: +91-120-433-0800
