Power Rental Market (By Fuel: Diesel, Gas, Dual Fuel; By Power Rating: 11-50 kW, 51-200 kW, 201-500 kW, 501-1,000 kW, 1,501-2,000 kW, Above 2,000 kW; By End-User Industries: Utilities, Oil & Gas, Events, Construction, Mining, Shipping) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

Category : Energy and Power | Delivery Format : PDF | Status: Published | Pages : 190

The market for power rental is expected to grow at a CAGR of around 7.9% from 2020 to 2027 and expected to reach the market value of around US$ 27.5 Bn by 2027.

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.

Market Dynamics

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 application. 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 2020 to 2027.

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.

Diesel accounted for the maximum share (%) in the global market

By fuel, diesel is the leading 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.

Asia Pacific has registered major revenue share (%) in the power rental market

In 2019, Asia Pacific accounted for the maximum share in terms of value (US$ Mn), and the region is also projected to maintain its dominance over the forecast timeframe from 2020 to 2027. The emerging economies of the region along with the increasing discretionary income of people are supporting the regional market value. The rapid industrialization in emerging economies of the region including China and India is propelling the regional market value. Moreover, the region is also projected to exhibit the fastest growth over the estimated period due to the increasing demand for industrial production in the region.

The players profiled in the report include Aggreko Plc. (U.K.), APR Energy (U.S.), Ashtead Group Plc. (U.K.), Bredenoord Exploitatiemij B.V. (The Netherlands), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Herc Rentals Inc. (U.S.), L.M. Generating Power Co. Ltd. (Canada), Speedy Hire Plc. (U.K.), United Rentals, Inc. (U.S.), and others. The major power rental players were involved in strategic developments for escalating the profit share in regional as well as global market. The major investments were announced for the technological advancements associated with the changing consumer demand for power rental.

Market Segmentation

Market By Fuel

Diesel

Gas

Dual Fuel

Market By Power Rating

11-50 kW

51-200 kW

201-500 kW

501-1,000 kW

1,001-2,000 kW

Above 2,000 kW

Market By End-User Industries

Utilities

Oil & Gas

Events

Construction

Mining

Shipping

Market By Geography

North America

  • U.S.
  • Canada

Europe

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

Asia-Pacific

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

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa

Frequently Asked Questions

The market for Power Rental is expected to reach a market value of around US$ 27.5 Bn by 2027.

The Power Rental market is expected to grow at a CAGR of around 7.9% from 2020 to 2027.

Diesel is the leading segment by fuel in the power rental market.

The limited access to electricity in rural areas, increase in power loss due to aging infrastructure, development of new customized compressed air rental solution, manufacturers mostly prefer hiring generators, lesser availability of grid infrastructure and requirement of power for a temporary time period, and increasing usage in many industries to provide essential support during the event of a power outage are some of the factors driving the market growth.

Aggreko Plc. (U.K.), APR Energy (U.S.), Ashtead Group Plc. (U.K.), Bredenoord Exploitatiemij B.V. (The Netherlands), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Herc Rentals Inc. (U.S.), L.M. Generating Power Co. Ltd. (Canada), Speedy Hire Plc. (U.K.), United Rentals, Inc. (U.S.), and others are the prominent players in the market.

Asia Pacific held the highest market share in the power rental market.

Asia Pacific is expected to be the fastest growing market over the forecast period.

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