Global Power Rental Market Growth Analysis - Forecast Trends, Market Size, Share and Outlook (2024-2032)

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Rising Demand for Power Rental in the Mining Industry Propelling the Market Growth

The rising demand for power rental in the mining industry is augmenting the market growth. As power equipment, such as generators, require high capital investment, the demand for power rental equipment for uninterrupted power supply during mining operations is surging. With the increasing mining activities, various companies are utilising power rental for urgent power requirements. Moreover, the regular payment schedule of power rental enhances cash flow and enables more accurate budgeting, due to which it is extensively preferred by mining companies. As power rental equipment is maintained by the provider, mining companies are leveraging it to bolster cost-effectiveness., thus invigorating the industry growth.

The enhanced flexibility offered by power rental enables contractors to boost or reduce power ratings in accordance with diverse requirements, due to which it is extensively deployed in mining applications. As power rental services include refuelling, their demand is surging to eliminate the requirement of experts to manage equipment while reducing human capital. With the increasing concerns regarding investments in the mining industry, the demand for power rental is expected to grow, which is anticipated to provide further impetus to the growth of the market in upcoming years.

Power Rental Market Share

The power rental market share is expanding due to the increasing demand for temporary power solutions across industries like construction, oil & gas, and events. The need for uninterrupted power in remote locations and during peak demand periods drives this market. Companies are increasingly adopting power rental services to ensure flexibility and cost-efficiency. The rise of renewable energy integration, technological advancements in generators, and grid stabilization are also boosting market growth. Key regions leading the power rental market share include North America, Asia-Pacific, and the Middle East.

Power Rental Indutrsy Segmentation

Power rental is the facility that rents power equipment like generators, load banks, and transformers, among others, to provide uninterrupted power supply to various industries. It enhances the overall efficiency of various industries by offering enhanced flexibility for power requirements. It requires low maintenance and operation costs and optimises energy supply.

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The major fuel types of power rental are:

• Diesel
• Natural Gas
• Others

The market can be broadly categorised on the basis of its equipment types into:

• Load Bank
• Generator
• Transformer
• Others

Based on power rating, the market is divided into:

• Up to 50 kW
• 51-500 kW
• 510-2,500 kW
• Above 2,500 kW

By application, the market is classified into:

• Peak Shaving
• Standby Power
• Base Load/Continuous Power

The market, based on end use, is categorised into:

• Utilities
• Oil and Gas
• Events
• Construction
• Mining
• Data Centres
• Others

The EMR report looks into the regional markets of power rental like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Deployment of Rental Generators in the Construction Industry to Aid the Market for Power Rental

The increasing demand for rental generators in the major sectors like the construction industry is driving the growth of the power rental industry. With the low operation costs and enhanced efficiency offered by rental generators, their demand in the construction activities is significantly escalating, which is propelling the market growth. In addition, the development of innovative power rental equipment that is custom-built and offers enhanced security while operating in extreme conditions is expected to propel the market growth. Such equipment further caters to diverse power requirements, reduce fuel costs and pollution levels, which is anticipated to add to the industry growth in the coming years.

The rising availability of power equipment that complies with the latest safety standards to offer enhanced protection is propelling the market growth. The growing trend of sustainability is also increasing the use of power rentals owing to their ecological benefits, which is significantly contributing to the market growth. As power rental is ideal to meet short term power requirements, its demand is growing, which is bolstering the growth of the industry. Furthermore, the rising potential of power rental equipment fuelled with natural gas in both developed and developing economies is estimated to strengthen the growth of the power rental industry in the forecast period.

Key Industry Players in the Global Power Rental Market

The report presents a detailed analysis of the following key players in the global power rental market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Caterpillar, Inc.
• Aggreko Plc
• Atlas Copco Group
• Cummins, Inc.
• The Hertz Corporation
• Generac Power Systems
• Wacker Neuson SE
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

Power Rental Market Report Snapshots

Power Rental Market Size

Power Rental Market Growth

Power Rental Companies