Power Rental Global Market Report 2025

Power rental is a service that enables the temporary leasing of equipment for providing either prime or standby power as required. Generator sets, load banks, and electrical distribution systems are commonly rented for power needs.

The primary components of power rental equipment comprise generators, transformers, load banks, and other related devices. Generators serve as devices that supply electrical power during power outages, ensuring uninterrupted continuity of daily activities and business operations. Standby power, peak shaving, and base load/continuous power represent the primary applications of this equipment. Various fuel types, such as diesel, natural gas, and others, are employed to operate power rental equipment, catering to diverse end-user segments, including utilities, oil & gas, construction, manufacturing, metal & mining, IT and data centers, corporate & retail, events, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp rise in U.S. tariffs and the ensuing trade tensions in spring 2025 are having a notable impact on the utilities sector, particularly across power generation, grid modernization, and renewable energy initiatives. Increased duties on imported equipment such as turbines, transformers, solar panels, and battery storage systems are driving up both capital and operational expenses for utility companies, prompting many to delay projects or pass higher costs on to consumers through increased energy rates. The water and waste management sectors are similarly affected, as tariffs inflate the cost of essential machinery, piping, and treatment technologies. Moreover, retaliatory tariffs from key trading partners have disrupted the supply of critical raw materials-such as rare earth elements vital for clean energy technologies-posing further challenges to the shift toward sustainable energy. In response, the sector is increasingly focusing on domestic procurement, digital transformation, and efficiency-enhancing innovations to control rising costs while safeguarding energy reliability and meeting regulatory demands.

The power rental market research report is one of a series of new reports from The Business Research Company that provides power rental market statistics, including the power rental industry global market size, regional shares, competitors with a power rental market share, detailed power rental market segments, market trends and opportunities, and any further data you may need to thrive in the power rental industry. This power rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The power rental market size has grown strongly in recent years. It will grow from $12.11 billion in 2024 to $13.21 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to construction and infrastructure development, utility power shortages, events and entertainment industry, remote and off-grid locations, increased mining operations.

The power rental market size is expected to see strong growth in the next few years. It will grow to $19.34 billion in 2029 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to smart cities development, healthcare infrastructure expansion, military operations, data center construction, global events and exhibitions. Major trends in the forecast period include rental generator technologies, mobile and modular power units, flexible rental contract models, energy efficiency and emissions reduction, remote monitoring and telematics integration.

The forecast of 10.0% growth over the next five years reflects a modest reduction of 0.3% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. The temporary power rental sector might see supply chain constraints and cost inflation as tariffs impact imports of diesel generators, transformers, and fuel storage tanks frequently used during peak load demand. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The rapid pace of industrialization is fueling the growth of the power rental market. Rapid industrialization signifies a swift transition of an economy from an agriculture-based focus to one centered on manufacturing. This transformation has led to advancements across various sectors, including information technology, manufacturing, and construction, all of which necessitate a continuous supply of power to operate effectively. For instance, in July 2023, Eurostat, a Luxembourg-based government statistical agency, reported a 0.2% increase in industrial output in the European area, with a 0.1% rise noted in the European Union from May to April 2023. Consequently, the demand for power rental services is expected to increase alongside the ongoing rapid industrialization and heightened investment in infrastructure development in major developing nations.

The power rentals market is expected to experience growth driven by the expanding construction industry. Construction involves the process of creating or assembling infrastructure, buildings, and other structures. Power rentals in the construction sector offer temporary and scalable power solutions, ensuring an uninterrupted energy supply for construction sites and equipment, thereby enhancing project efficiency and productivity. As of December 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, construction spending reached a seasonally adjusted annual rate of $2,027.1 billion, marking a 0.6% (+-1.0%) increase from the revised September estimate of $2,014.7 billion. The October figure also reflects a 10.7% (+-1.6%) rise compared to October 2022's estimate of $1,830.5 billion. With construction spending in the first ten months of the year totaling $1,646.0 billion, a 5.6% (+-1.2%) increase from the same period in 2022, the growing construction industry emerges as a significant driver for the power rentals market.

Major companies in the power rentals market are increasingly focusing on launching new products to secure a competitive advantage. For example, in February 2023, Caterpillar Inc., a US-based construction company, introduced the Cat XQ330 mobile diesel generator set. This generator is designed for both standby and prime applications, offering low emissions and high performance. Equipped with the efficient Cat C9.3B engine, it operates quietly and boasts a durable, weather-resistant design that facilitates easy transport and maintenance. Additionally, its advanced EMCP 4.4 control panel enhances reliability and flexibility, making it an ideal solution for diverse power requirements.

Key players in the power rentals market are increasingly emphasizing the introduction of high-performance twin-pack diesel generators to enhance their competitive advantage. A twin-pack diesel generator is a power generation system comprising two diesel generators operating in parallel or as a pair, working collaboratively to provide a higher combined power output. In June 2022, Cummins Inc., a US-based engineering company, launched the C1000D6RE, a 1 MW twin-pack rental power diesel generator. This innovative generator is tailored to provide a competitive rental power solution for diverse applications, including construction sites, emergency power, large-scale events, industrial buildings, and utilities in remote or urban areas. The generator integrates two Cummins 15L, 500 kW generators into a single 40-foot power unit, catering to the needs of large-scale industries and various mobile power requirements.

In January 2022, Herc Rentals, a US-based rental company specializing in equipment and tool rentals for construction and industrial applications, successfully acquired Temp-Power Inc. for an undisclosed amount. Through this strategic acquisition, Herc Rentals aims to leverage the rental solutions provided by Temp-Power. Temp-Power, based in Virginia, specializes in portable and towable generators, light towers and balloons, power distribution, on-site diesel fuel delivery, temperature control (AC, heat, dehumidifiers), utility vehicles/golf carts, and on-site technicians.

Major companies operating in the power rental market include Caterpillar Inc., Cummins Inc., Atlas Copco AB, United Rentals Inc., Ashtead Group plc, Kohler Co, Wartsila Oyj, Generac Power Systems Inc., Herc Rentals Inc., Hertz Equipment Rental Corporation, Wacker Neuson SE, Aggreko plc, Multiquip Inc., APR Energy Ltd., FG Wilson (Engineering) Ltd., Smart Energy Solutions Ltd., Modern Hiring Service Ltd., Speedy Hire plc, Power Electrics Bristol, Rental Solutions & Services, Bredenoord Exploitatiemij B.V., Pump Power Rental, Global Power Supply Ltd., Jassim Transport & Stevedoring Co K.S.C.C., Newburn Power Rental Ltd., ProPower Rental, Shenton Group plc, So Energy Trading Limited

Asia-Pacific was the largest region in the power rental market in 2024. North America is expected to be the fastest-growing region in the power rental market share during the forecast period. The regions covered in the power rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the power rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The power rental market includes revenues earned by entities by providing services such as generator rental services and cooling equipment rental services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Power Rental Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on power rental market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for power rental ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The power rental market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered:1) By Equipment: Generators, Transformers, Load Banks, Other Equipment
• 2) By Application: Standby Power, Peak Shaving, Base Load/Continuous Power
• 3) By Fuel Type: Diesel, Natural Gas, Other Fuel Types
• 4) By End-Users: Utilities, Oil And Gas, Construction, Manufacturing, Metal And Mining, IT And Data centers, Corporate And Retail, Events, Other End-Users
• Subsegments:
• 1) By Generators: Diesel Generators; Gas Generators; Hybrid Generators
• 2) By Transformers: Step-Up Transformers; Step-Down Transformers; Auto Transformers
• 3) By Load Banks: Resistive Load Banks; Reactive Load Banks; Resistive-Reactance Load Banks
• 4) By Other Equipment: Distribution Panels; Cables And Connectors; Power Distribution Units (PDUs)
• Companies Mentioned: Caterpillar Inc.; Cummins Inc.; Atlas Copco AB; United Rentals Inc.; Ashtead Group plc; Kohler Co; Wartsila Oyj; Generac Power Systems Inc.; Herc Rentals Inc.; Hertz Equipment Rental Corporation; Wacker Neuson SE; Aggreko plc; Multiquip Inc.; APR Energy Ltd.; FG Wilson (Engineering) Ltd.; Smart Energy Solutions Ltd.; Modern Hiring Service Ltd.; Speedy Hire plc; Power Electrics Bristol; Rental Solutions & Services; Bredenoord Exploitatiemij B.V.; Pump Power Rental; Global Power Supply Ltd.; Jassim Transport & Stevedoring Co K.S.C.C.; Newburn Power Rental Ltd.; ProPower Rental; Shenton Group plc; So Energy Trading Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.