Power Rental Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030

The Global Power Rental Market Size is valued at USD 9,142 million in 2021 and is estimated to achieve a market size of USD 16,366 million by 2030; growing at a CAGR of 7.1%.

Power rental is also known as power on hire it includes the rental generators which are useful over the purchased one. These power rentals provide flexibility in the requirement of power rating, less maintenance, and installation costs, have lower initial costs, and readily available on short notice. The increasing demand for uninterrupted and reliable power supply is the primary factor leading the power rental market revenue. Integration of digital technology solutions for operation enhancement is one of the recent trends in power rental market.

 Global Power Rental Market DRO’s:

Market Drivers:

• Growing demand for continuous power supply globally
• Rapid adoption in mining and oil & gas industries
• Increasing urbanization in emerging countries

Market Restraints:

• Rising penetration for renewable energy sources
• Strict government guidelines associated with generators

Market Opportunities:

• Growing emphasis on renewable power rental energy sources
• Technological advancements in power rental equipment

Power Rental Market Report Coverage:

The limited access to electricity in rural areas, as well as an increase in power loss due to aging infrastructure, is the factor driving the market growth. The development of a new customized compressed air rental solution is supporting the growing market value. The manufacturers mostly prefer hiring generators instead of maintaining the existing power supply system. The lesser availability of grid infrastructure and the requirement of power for a temporary time period are other factors favoring the market value. Power rentals are also gaining pace on account of increasing usage in many industries to provide essential support during the event of a power outage. Additionally, the advantage of the equipment as it can be used as a baseload or as a standby Power Rating. Furthermore, obsolete permanent power plants, decarbonization & decentralization of energy mix, and development of next-generation air compressors are some of the factors anticipated to provide potential opportunities over the forecast timeframe from 2022 to 2030.

On the other side, the slowdown in global economies, and uncertainty in raw material prices are factors projected to limit the growth to an extent over the forecast period.

Power Rental Market Segmentation

The market can be bifurcated on the basis of fuel, power rating, end-user industries, and region.

Power Rental Market by Fuel

• Diesel
• Gas
• Dual Fuel

According to our power rental industry analysis, diesel is the leading the fuel segment in the global power rental market. The segment is gaining pace because diesel generators incur low purchase and maintenance cost against to gas-fueled generators as well as diesel-fueled power rental equipment is more popular in the market. Moreover, the segment is projected to experience the adverse effects of increasing government regulations on diesel engines due to rising environmental concerns.

Power Rental Market by Power Rating

• Up to 50 KW
• 51 to 500 KW
• 501 to 2,500 KW
• Above 2,500 KW

Among power rating, the 501 to 2,500 KW sub-segment achieved a considerable market share in 2021 and is likely to do so in the coming years. The 501 to 2,500 KW power rental equipment are well equipped to provide continuous power supply and standby power during outages peak shaving. The growing number of power outages in emerging nations due to the lack of proper power infrastructure fuels the segmental growth.

Power Rental Market by End-User Industries

• Utilities
• Oil & Gas
• Events
• Construction
• Mining
• Shipping
• Others

According to our power rental market forecast, the utilities sub-segment captured a sizable market share in 2021 and is expected to do so in the future. The power leasing services are intended to assist utilities in stabilizing their power systems while also providing extra energy to businesses and communities. With the world's thermal power plant network ageing, the utility sector's demand for rented power is expected to rise.

Power Rental Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Latin America

• Mexico
• Brazil
• Rest of Latin America

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

The Middle East & Africa (MEA)

• Gulf Cooperation Council (GCC)
• South Africa
• Rest of the Middle East & Africa