PUBLISHER: 360iResearch | PRODUCT CODE: 1471356
PUBLISHER: 360iResearch | PRODUCT CODE: 1471356
[190 Pages Report] The Power Rental Market size was estimated at USD 9.06 billion in 2023 and expected to reach USD 9.51 billion in 2024, at a CAGR 5.23% to reach USD 12.96 billion by 2030.
Power rental refers to the service of renting power generation equipment to meet temporary, supplementary, & emergency power requirements. This service is utilized across various industries, including construction, manufacturing, event management, mining, and utilities, among others. The equipment rented commonly includes generators, transformers, load banks, and other accessories necessary to ensure an uninterrupted power supply. Discrepancies between energy supply and demand, especially in remote areas, drive the power rental market. Additionally, significant infrastructure activities across developing nations propel the demand for temporary power solutions. However, high operational costs involved in transporting and maintaining equipment hamper the market expansion. Furthermore, integrating renewable energy sources with power rental systems and adopting more energy-efficient and eco-friendly power rental solutions present significant opportunities for market expansion.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 9.06 billion |
Estimated Year [2024] | USD 9.51 billion |
Forecast Year [2030] | USD 12.96 billion |
CAGR (%) | 5.23% |
Equipment: Rising infrastructure activities globally accelerating demand for generators and transformers
Generators remain the backbone of power rental solutions, providing emergency power, supplemental power, and power for remote areas without access to a permanent power grid. These are preferred in events, construction sites, and industries requiring uninterrupted power supply. Demand for generators is often dictated by power capacity requirements, fuel type preference, and regulatory compliance. Load banks are essential for testing power sources, including generators and UPS systems, ensuring they can handle designed load levels. They are crucial for preventing power failure during critical operations. The demand for load banks typically comes from industries looking to test and maintain their power systems, especially before peak usage periods and after the installation of new equipment. Transformers in the rental market are crucial for voltage regulation and distribution, ensuring compatibility between the power source and onsite equipment. They are vital for projects requiring temporary power solutions at varying voltage levels. Industries rent transformers for a variety of reasons, including construction projects, events, and during periods of equipment testing & maintenance.
End-User: Expanding operations of telecom and datacenter sectors drives the demand for high efficient power solutions
The construction sector heavily relies on power rental solutions for temporary power supply during building activities, especially in remote areas lacking grid connectivity. The demand within this sector is driven by urbanization and infrastructural development. The manufacturing sector requires an uninterrupted power supply to maintain continuous production lines. Temporary power solutions are sought during planned downtimes or unforeseen power outages. Mining operations, often located in remote and off-grid areas, depend on power rentals for their energy needs. The sector's preference lies in high-capacity, durable power generation equipment that can operate in harsh conditions. Oil & gas operations, known for their stringent safety and reliability requirements, utilize power rentals for exploration, production, and refining processes. This segment demands explosion-proof, reliable equipment for uninterrupted operations. With the exponential growth of data consumption, telecom and data center sectors have an acute need for reliable power to ensure 24/7 service availability. The preference here is for power rental solutions that offer energy efficiency and scalability. The utility sector, encompassing electricity, water, and gas services, often faces demand surges & maintenance-induced supply interruptions, necessitating backup power solutions. This sector prioritizes reliability and regulatory compliance in power rental solutions.
Regional Insights
In the American region, the power rental market is propelled by the growing demand for reliable, temporary power solutions in sectors including construction, oil and gas, and events. The trend towards adopting sustainable and clean energy sources has influenced the rental market, with an increase in the rental of eco-friendly generators and power supply units. EU countries exhibit a growing demand for power rental solutions in line with stringent environmental regulations pushing for reductions in carbon emissions. The market is characterized by a high demand for energy-efficient and renewable energy-powered temporary power sources. The Middle East's power rental market is primarily driven by the construction, oil, and gas sectors and large-scale events. Despite abundant natural gas reserves, there is an increasing inclination towards incorporating renewable energy solutions in power rentals. In the APAC region, rapid industrial growth and urbanization are increasing the demand for temporary power solutions, particularly in construction and public events. The countries are investing in clean energy power rental solutions to reduce carbon emissions.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Power Rental Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Power Rental Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Power Rental Market, highlighting leading vendors and their innovative profiles. These include Aggreko Ltd., Aksa Power Generation Inc., Allmand Bros., Inc. by Briggs & Stratton, Ashtead Group PLC, Atlas Copco AB, Bredenoord, Caterpillar Inc., Cooper Equipment Rentals Ltd., Cummins Inc., Doosan Portable Power, Duthie Power Services, Energy Systems Southeast, LLC, GEN-TECH, Generac Power Systems, Inc., Herc Rentals Inc., Himoinsa S.L. by Yanmar Co., Ltd., Kohler Co., Modern Hiring Service, Newburn Power Rental Ltd., Power Plus, Red-D-Arc Inc. by Air liquide S.A., Reddy Generators, Sun for Rent, Sunbelt Rentals, Inc., and United Rentals, Inc..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Power Rental Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Power Rental Market?
3. What are the technology trends and regulatory frameworks in the Power Rental Market?
4. What is the market share of the leading vendors in the Power Rental Market?
5. Which modes and strategic moves are suitable for entering the Power Rental Market?