Power Rental Market Share, Size, Future Demand, and Emerging Trends
It is stated by P&S Intelligence in one of its reports, the power rental market size was USD 9,702 million in 2022, and it will grow at a rate of 5.7% in the years to come for reaching USD 15,117 million by 2030.
Diesel generators had the largest share, because of their quick start-up, low requirement for space, ease of setting up, and low primary investments. Furthermore, these systems are able to offer scalable, weather-independent, and elastic procedures.
Also, the enhancements in their engine performance have improved their output for the same fuel amount burned.
The continuous power category dominated the industry in the past. Oil and gas facilities, Industrial sites, and construction and mining sites are some of the key consumers of these machines for incessant energy applications. Moreover, the size of these systems for providing energy at relentless loads for an unlimited time inspires their use in diverse industries.
Browse detailed - Power Rental Market Revenue Estimation and Growth Forecast Report
The MEA will grow significantly in the years to come, because of the high necessity for rental gensets from the oil and gas and construction sectors. The industry is gaining momentum because of the outmoded electricity plants, ongoing infra projects, and rapid industrialization.
It is because of the rapid advancements in the industrial sector, the demand for the power rental solutions will be on the rise in the near future.
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