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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Power Rental Market Size
The global power rental market attained a value of about USD 10.30 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.80%.
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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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Fuel Type |
|
| Breakup by Equipment Type |
|
| Breakup by Power Rating |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Power Rental Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global power rental market attained a value of nearly USD 10.30 billion.
The market is projected to grow at a CAGR of 5.80% between 2024 and 2032.
The market is being driven by the rising demand for power rental in the mining industry, the low maintenance and enhanced flexibility offered by power rental, and the increasing investment concerns in the mining industry.
The industry is expected to be propelled by the rising demand for rental generators in the construction industry, the development of innovative power rental equipment, and the increasing trend of sustainability.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major fuel types of power rental in the industry are diesel and natural gas, among others.
The various equipment types of power rental are load bank, generator, and transformer, among others.
The several power ratings of power rental are up to 50 kW, 51-500 kW, 510-2,500 kW, and above 2,500 kW.
The numerous applications of power rental are peak shaving, standby power, and base load/continuous power.
The significant end uses in the market are utilities, oil and gas, events, construction, mining, and data centres, among others.
The major players in the industry are Caterpillar, Inc., Aggreko Plc, Atlas Copco Group, Cummins, Inc., The Hertz Corporation, Generac Power Systems, and Wacker Neuson SE, among others.
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