Data Bridge Market Research analyses that the power rental market was valued at USD 10.46 billion in 2022 and is expected to reach the value of USD 27.03 billion by 2030, at a CAGR of 12.60% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Power Rental market report consists of the systematic and comprehensive market research study that provides the facts and figures in the field of marketing. The report provides market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, their preferences for particular product and market demand and supply scenarios. For sound decision making and superior management of goods and services, these days businesses are adopting a market research report solution. An excellent Power Rental report has well interpreted and well categorized market research data that brings marketplace clearly into the focus.
The wide adoption of power rental services is because of its utility power networks even though supplying additional energy to businesses and local communities. As a result, it has an wide range of applications in the oil & gas, building, and mining industries. During power outage, power rental systems meet the requirement of an extensive range of industries by delivering backup power to keep operations running. Shortage of power will propel the growth of the market.
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Product definition
The option of temporarily renting power plants to supply energy to industrial units is called power rental. It offers existing power equipment in power plants and a variety of scalable components. Moreover, it gives companies the adaptability, speed, dependability and cost-effectiveness required to handle momentary power outages.
Some of the major players operating global Power Rental market are
- Global Power Supply, LLC. (U.S.)
- Jassim Transport & Stevedoring Co. K.S.C.C.P (Kuwait)
- ProPower Rental (U.S.)
- United Rentals, Inc. (U.S.)
- Cummins Inc. (U.S.)
- Ashtead Group plc (U.K.)
- APR Energy (U.S.)
- Herc Rentals Inc, (U.S.)
- Caterpillar (US.)
- Modern Hiring Service (India)
- FG Wilson (U.K.)
- Generac Power Systems, Inc. (U.S.)
- Aggreko (U.K.)
- Wacker Neuson SE (Germany)
- Kohler Co. (U.S.)
- SoEnergy (U.S.)
- Bredenoord (Netherlands)
- Allmand Bros., Inc. (U.S.)
- Multiquip, Inc (U.S.)
Key Market Segments Covered in Power Rental Market Industry Research
Fuel Type
- Diesel
- Natural Gas
- Others
Rental Type
- Retail Rental
- Project Rental
End User
- Utilities
- Oil & Gas
- Mining
- Manufacturing
- Construction
- Events
- Shipping
- Data Center
- Others
Application
- Peak Shaving
- Standby Power
- Base Load/Continuous Power
Power Rating
- Less than 10 kW
- 11 kW - 20 kW
- 21 kW - 50 kW
- 51 kW - 100 kW
- 101 kW - 250 kW
- 251 kW - 500 kW
- 501 kW - 1,000 kW
- 1,001 kW -1,500 kW
- 1,501 kW - 2,000 kW
- 2,001 kW - 2,500 kW
- Above 2,500 kW
Equipment
- Generator
- Load Banks
- Transformer
- Others
Power Rental Market Regional Analysis/Insights
The power rental market is analyzed and market size insights and trends are provided by country, fuel type, rental type, end user, application, power rating and equipment as referenced above.
The countries covered in the power rental market report are report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the power rental market in revenue growth due to increasing energy requirements and deteriorating foundations. These are some of the main determinants accountable for the growth of the targeted market.
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Drivers
- High usage of rental power in mining industry
The mining industry is the major end user of rental power. The mining sites are not attached to the grid, they rely on generator sets that have been engaged temporarily. The rental generators are in modest demand in industrial businesses when there is a requirement for extra power during peak load demand, when the existing power supply system, such as purchased generator sets, has to be sustained, or when there is a brief outage. As a result, the mining industry with poor grid power supplies are severely reliant on the power rental market’s growth.
- Increasing demand for backup power solutions
The evolution towards renewable energy sources is assembling pace all over the globe, because nations are aggressively preventing themselves off of fossil fuels, mainly from coal, to meet their energy needs. As a result, investments in renewable technologies have progressively developed in the last few years. Renewables can sufficiently meet the demand for clean energy globally but an inherent disadvantage in renewables is that they are intermittent. Since energy storage technologies are still in promising stages of development. Thus, backup power solutions are essential for uninterrupted power supply to industries and households. Power rental services and equipment can fill this gap because they are easy to access, require minimal maintenance and are cost-effective.
Opportunities
- Increasing usage of industrial and commercial electricity
Increasing industrial and commercial electricity use has created a power market imbalance. During the high-power use hours, this slit becomes more noticeable. This has directed to the formation of power leasing schemes, which may offer temporary electricity during power outages. Market growth will be compelled in the upcoming period by augmented demand for temporary electrical power sources during events, festivals, and fairs. These power systems deliver peak shaving, enabling several businesses to precisely allocate their power use between peak hoursand non-peaks. Thus, the increasing usage of industrial and commercial electricity will create immense opportunities for the market growth rate.
Restraints
- Challenges associated with the power rental market
The impact of changing oil costs on industries that depend on oil price and government agencies' strict emission restrictions are expected to impede the growth of the power rental business worldwide. In the upcoming period, it is also projected that the growing importance of renewable energy will hinder the market's growth.
This power rental market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the power rental market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In October 2020, Aggreko announced the presence of 1 MW solar power rental solution, elevated to serve weak or off-grid applications. Demanding no long-term economic commitments, Aggreko Solar Power can be available on a short-term rental basis sans any CAPEX.
How does this Power Rental Market Insights Help?
- Global Power Rental Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR
- The Key parameters which are driving this market and restraining its growth
- What all challenges manufacturers will face as well as new opportunities and threats faced by them
- To learn about the market strategies that are being adopted by your competitors and leading organizations
- To Increase insightful analyses of the market and have a comprehensive understanding of the “Power Rental Market” and its commercial landscape
TABLE OF CONTENTS
- Part 01: Executive Summary
- Part 02: Scope of The Report
- Part 03: Research Methodology
- Part 04: Market Landscape
- Part 05: Pipeline Analysis
- Part 06: Market Sizing
- Part 07: Five Forces Analysis
- Part 08: Market Segmentation
- Part 09: Customer Landscape
- Part 10: Regional Landscape
- Part 11: Decision Framework
- Part 12: Drivers and Challenges
- Part 13: Market Trends
- Part 14: Vendor Landscape
- Part 15: Vendor Analysis
- Part 16: Appendix
For Detailed TOC | Follow @ https://www.databridgemarketresearch.com/toc/?dbmr=global-power-rental-market
Queries Resolved In This Report:
- Which will be the specialties at which Power Rental Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set nearness?
- Which will be the foreseen development rates for your own Power Rental economy out and out and furthermore for each portion inside?
- Which will be the Power Rental application and sorts and estimate joined intently by makers?
- Which will be the dangers which will attack growth?
- The length of the global Power Rental market opportunity?
- How Power Rental Market share advance vacillations their value from various assembling brands?
WHO SHOULD BUY THE GLOBAL POWER RENTAL REPORT?
People looking to enrich the decision-making capability by following points must buy the report:
- Breakdown of market share of the top Power Rental industry players
- Evaluations of market share for the regional and country level sectors
- Estimation of Power Rental market for the forecast period of all the aforementioned classes, sub classes, and the domestic markets
- Tactical recommendation for the newbies
- Tactical recommendation in primary business industries based on the Power Rental market forecast
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