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Global Power Rental Market to Grow at a CAGR of 5.80% During 2024-2032, Driven by Rapid Industrialisation

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Power Rental Market

Global Power Rental Market Size, Share, Report: By Fuel Type: Diesel, Natural Gas, Others; By Equipment Type: Load Bank, Generator, Transformer, Others; By Power Rating: Up to 50 kW, 51-500 kW, 501-2500 kW, Above 2500 kW; By Application: Peak Shaving, Standby Power, Others; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Power Rental Market Outlook

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%.

 

Global Power Rental Market

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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 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.

 

Global Power Rental Market Fuel Type

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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.

 

Global Power Rental Market By Region

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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:

  • Fuel Type
  • Equipment Type
  • Power Rating
  • Application
  • End Use
  • Region
Breakup by Fuel Type
  • Diesel
  • Natural Gas
  • Others
Breakup by Equipment Type
  • Load Bank
  • Generator
  • Transformer
  • Others
Breakup by Power Rating
  • Up to 50 kW
  • 51 –500 kW
  • 501 –2,500 kW
  • Above 2,500 kW
Breakup by Application
  • Peak Shaving
  • Standby Power
  • Base Load/Continuous Power
Breakup by End Use
  • Utilities
  • Oil and Gas
  • Events
  • Construction
  • Mining
  • Data Centres
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Caterpillar, Inc.
  • Aggreko Plc
  • Atlas Copco Group
  • Cummins, Inc.
  • The Hertz Corporation
  • Generac Power Systems
  • Wacker Neuson SE
  • Others
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.

 

*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    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Power Rental Market Analysis
    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 by Fuel Type
        8.4.1    Diesel
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Natural Gas
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Others
    8.5    Global Power Rental Market by Equipment Type
        8.5.1    Load Bank
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Generator
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Transformer
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Power Rental Market by Power Rating
        8.6.1    Up to 50 kW
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    51 –500 kW
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    501 –2,500 kW
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Above 2,500 kW
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
    8.7    Global Power Rental Market by Application
        8.7.1    Peak Shaving
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Standby Power
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Base Load/Continuous Power
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
    8.8    Global Power Rental Market by End Use
        8.8.1    Utilities
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Oil and Gas
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Events
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Construction
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Mining
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
        8.8.6    Data Centres
            8.8.6.1    Historical Trend (2018-2023)
            8.8.6.2    Forecast Trend (2024-2032)
        8.8.7    Others 
    8.9    Global Power Rental Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023)
            8.9.5.2    Forecast Trend (2024-2032)
9    North America Power Rental Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Power Rental Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Power Rental Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Power Rental Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Power Rental Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
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    Aggreko Plc
            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 Group
            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    Cummins, 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    The Hertz Corporation
            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    Generac Power Systems
            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    Wacker Neuson SE
            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    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.    Global Power Rental Historical Market: Breakup by Fuel Type (USD Billion), 2018-2023
3.    Global Power Rental Market Forecast: Breakup by Fuel Type (USD Billion), 2024-2032
4.    Global Power Rental Historical Market: Breakup by Equipment Type (USD Billion), 2018-2023
5.    Global Power Rental Market Forecast: Breakup by Equipment Type (USD Billion), 2024-2032
6.    Global Power Rental Historical Market: Breakup by Power Rating (USD Billion), 2018-2023
7.    Global Power Rental Market Forecast: Breakup by Power Rating (USD Billion), 2024-2032
8.    Global Power Rental Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Power Rental Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Power Rental Historical Market: Breakup by End Use (USD Billion), 2018-2023
11.    Global Power Rental Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12.    Global Power Rental Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Power Rental Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Power Rental Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Power Rental Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Power Rental Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Power Rental Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Power Rental Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Power Rental Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Power Rental Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Power Rental Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Middle East and Africa Power Rental Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Power Rental Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Power Rental Market Structure

Key Questions Answered in the Report

What was the global power rental market size in 2023?

In 2023, the global power rental market attained a value of nearly USD 10.30 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 5.80% between 2024 and 2032.

What are the major industry drivers?

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.

What are the key industry trends of the global power rental market?

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.

What are the major regional markets of power rental, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major fuel types of power rental in the industry?

The major fuel types of power rental in the industry are diesel and natural gas, among others.

What are the various equipment types of power rental?

The various equipment types of power rental are load bank, generator, and transformer, among others.

What are the several power ratings of power rental?

The several power ratings of power rental are up to 50 kW, 51-500 kW, 510-2,500 kW, and above 2,500 kW.

What are the numerous applications of power rental?

The numerous applications of power rental are peak shaving, standby power, and base load/continuous power.

What are the significant end uses of power rental?

The significant end uses in the market are utilities, oil and gas, events, construction, mining, and data centres, among others.

Who are the key industry players, according to the report?

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.

Analyst Review

The global power rental market attained a value of nearly USD 10.30 billion in 2023, driven by the rising demand for power rental in the mining industry. Aided by the development of innovative power rental equipment, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.80%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its fuel types, the power rental industry can be segmented into diesel and natural gas, among others. On the basis of equipment types, the industry is divided into load bank, generator, and transformer, among others. By power ratings, the market is categorised into up to 50 kW, 51-500 kW, 510-2,500 kW, and above 2,500 kW. Based on application, the power rental industry is classified into peak shaving, standby power, and base load/continuous power. On the basis of end uses, the market is segmented into utilities, oil and gas, events, construction, mining, and data centres, among others. The major regional markets for power rental are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Caterpillar, Inc., Aggreko Plc, Atlas Copco Group, Cummins, Inc., The Hertz Corporation, Generac Power Systems, and Wacker Neuson SE, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

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Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

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