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North America Power Rental Market Size, Share, Analysis: By Fuel Type: Diesel, Gas, Alternative Fuel; By Rating: Up to 50 kW, 51 –500 kW, Above 500 kW; By Application: Peak Shaving, Standby Power, Prime/Continuous Power; By End Use: Utilities, Oil and Gas, Events, Construction, Others; Regional Analysis; Competitive Landscape; 2024-2032
North America Power Rental Market Outlook
The North America power rental market size reached approximately USD 4.5 billion in 2023. The market is projected to grow at a CAGR of 3.7% between 2024 and 2032, reaching a value of around USD 6.3 billion by 2032.
Key Takeaways
- The presence of government initiatives such as the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA) in the United States are substantially boosting construction activities, further increasing the need for power rentals.
- Power rentals are widely adopted in emergency situations and for disaster recovery efforts for providing critical electricity supply.
- In 2019, natural gas-fired generators represented 43% of operating U.S. electricity generating capacity.
The North America power rental market is driven by the increasing demand for constant and reliable energy supply from diverse industries. Power rental companies are transitioning towards the adoption of new forms of power, such as green power produced from solar energy or hydrogenated vegetable oil, among others in products such as aerial platforms, lighting towers, and generators (where hybrid engine/battery units are currently common). Natural gas generators are cleaner (about 85%) when compared to diesel-based generators. Further, consumers are adopting renewable energy-based power generators, as they are cleaner and more cost-effective options.
The manufacturing sector across the region is witnessing a significant growth, with manufacturers in the US accounting for 10.70% of the total output in the country. In 2021, the total manufacturing output of the United States was USD 2.5 trillion. Furthermore, the manufacturers help in driving the economy of the US, with USD 1.4 trillion in manufactured goods exports in 2021. The increasing need to ensure consistency in manufacturing operations is expected to support the North America power rental market growth.
Canada is transitioning towards a net zero economy by 2050, further increasing the demand for electricity at a substantial rate. It is estimated that by 2050, electricity will represent about 40 to 45% of the Canadian energy mix and will be the major end-use energy source. Additionally, the occurrences of power outages across Canada due to high-speed winds and various other factors are contributing to the adoption of power rentals, further supporting the North American power rental market growth.
Market Segmentation
North America Power Rental Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Fuel Type
- Diesel
- Gas
- Alternative Fuel
Market Breakup by Rating
- Up to 50 kW
- 51 –500 kW
- Above 500 kW
Market Breakup by Application
- Peak Shaving
- Standby Power
- Prime/Continuous Power
Market Breakup by End Use
- Utilities
- Oil and Gas
- Events
- Construction
- Mining
- Manufacturing
- Data Centres
- Others
Market Breakup by Region
- United States
- Canada
Competitive Landscape
Market players are increasingly providing power rentals that are engineered for easy transportation and fast installation and also meet the power requirements in the shortest time.
- Caterpillar Inc.
- Cummins Inc.
- Atlas Copco AB
- Generac Holdings Inc.
- Johnson Controls International Plc
- United Rentals, Inc.
- Kohler Co.
- Aggreko Ltd.
- Herc Rentals Inc.
- Briggs & Stratton, LLC (Allmand Bros., Inc.)
- Others
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:
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| Breakup by Fuel Type |
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| Breakup by Rating |
|
| Breakup by Application |
|
| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Power Rental Market Overview
8.1 Key Industry Highlights
8.2 Global Power Rental Historical Market (2018-2023)
8.3 Global Power Rental Market Forecast (2024-2032)
8.4 Global Power Rental Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Power Rental Market Overview
9.1 Key Industry Highlights
9.2 North America Power Rental Historical Market (2018-2023)
9.3 North America Power Rental Market Forecast (2024-2032)
10 North America Power Rental Market by Fuel Type
10.1 Diesel
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Gas
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Alternative Fuel
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 North America Power Rental Market by Rating
11.1 Up to 50 kW
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 51 –500 kW
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Above 500 kW
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 North America Power Rental Market by Application
12.1 Peak Shaving
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Standby Power
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Prime/Continuous Power
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 North America Power Rental Market by End Use
13.1 Utilities
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Oil and Gas
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Events
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Construction
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Mining
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Manufacturing
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Data Centres
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Others
14 North America Power Rental Market by Country
14.1 United States of America
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Canada
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators of Demand
15.4 Key Indicators of Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Caterpillar Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Cummins Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Atlas Copco AB
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Generac Holdings Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Johnson Controls International Plc
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 United Rentals, Inc.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Kohler Co.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Aggreko Ltd.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Herc Rentals Inc.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Briggs & Stratton, LLC (Allmand Bros., Inc.)
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Power Rental Market: Key Industry Highlights, 2018 and 2032
2. North America Power Rental Market: Key Industry Highlights, 2018 and 2032
3. North America Power Rental Historical Market: Breakup by Fuel type (USD Billion), 2018-2023
4. North America Power Rental Market Forecast: Breakup by Fuel Type (USD Billion), 2024-2032
5. North America Power Rental Historical Market: Breakup by Rating (USD Billion), 2018-2023
6. North America Power Rental Market Forecast: Breakup by Rating (USD Billion), 2024-2032
7. North America Power Rental Historical Market: Breakup by Application (USD Billion), 2018-2023
8. North America Power Rental Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. North America Power Rental Historical Market: Breakup by End Use (USD Billion), 2018-2023
10. North America Power Rental Market Forecast: Breakup by End Use (USD Billion), 2024-2032
11. North America Power Rental Historical Market: Breakup by Country (USD Billion), 2018-2023
12. North America Power Rental Market Forecast: Breakup by Country (USD Billion), 2024-2032
13. North America Power Rental Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 4.5 billion in 2023.
The market is projected to grow at a CAGR of 3.7% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 6.3 billion by 2032.
The major factors guiding the growth of the market include the occurrence of electricity fluctuations, expanding construction and manufacturing sectors, and increasing inclination towards the use of alternative and renewable fuels.
The different fuel types for power rentals are diesel, gas, and alternative fuel.
The major countries considered in the power rental market are the United States and Canada.
The major end uses are utilities, oil and gas, events, construction, mining, manufacturing, data centres, and others.
The major players in the market are Caterpillar Inc., Cummins Inc., Atlas Copco AB, Generac Holdings Inc., Johnson Controls International Plc, United Rentals, Inc, Kohler Co., Aggreko Ltd., Herc Rentals Inc., and Briggs & Stratton, LLC (Allmand Bros., Inc.), among others.
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