Power Rental Market: Market Segments: By Fuel Type (Diesel Generators and Gas Generators); By Power Rating (Less Than 50 KW, 51 KW to 500 KW and Above 500 KW); By Application (Peak Shaving, Base Load and Standby); By End-User (Utilities, Oil & gas, Events, Construction, Mining, Manufacturing, Telecom & Datacenter and Others); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Power Rental is characterized as a power that is leased out for a particular amount of time and is controlled by either a written or verbal agreement. Power rental signifies about the facility of temporarily renting generators or power plants for providing energy to industrial units. In many industries, power rental is increasingly used, as it can supply instant power, such as for power outages in remote areas without power networks.
Power Rental Market is expected to project a notable CAGR of 6.9% in 2030.
Power Rental Market to surpass USD 13.4 billion by 2030 from USD 8.9 billion in 2019 at a CAGR of 6.9% throughout the forecast period, i.e., 2019-30. The growing demand for power and the availability of new personalized rental solutions for compressed air are the key factors driving the growth of the global market for power rental.
Power Rental Market: Segments
Continuous power segment to grow with the highest CAGR during 2019-30
Power Rental Market is segmented by applications as peak shaving, continuous power, standby. base load/continuous segment held the leading position with a market share of around 43.5% in the power rental market in 2019. To provide continuous electricity supply, the base load or continuous power plant needs minimum power generation.
Power Rental Market: Market Dynamics
Growing foreign investments along with ongoing technological advancements
The share of the diesel power rental market will be complemented by rising foreign investment along with ongoing technological developments, including high reliability and performance. Frequent power cuts and blackouts would have a positive effect on the outlook of the sector, along with ageing transmission and distribution lines.
Stringent emission regulations
The government agencies stringent pollution regulations and the impact of oil price volatility on sectors dependent on oil are expected to impede the growth of the global power rental industry. In addition, the increased emphasis on renewable energy is expected to further hamper the growth of this sector in the near future.
Power Rental Market: Key Players
• Atlas Copco AB
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
• AGGREKO PLC
• Ashtead Group plc
• BOWMAN POWER
• Caterpillar Inc.
• Cummins Inc.
• Kohler Co.
• One Source Equipment Rentals, Inc.
Power Rental Market: Regions
Power Rental Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Power Rental Market in North America held the largest market share of XX.X% in the year 2019 and it is expected to continue its market dominance in the future owing to factors such as growing investments in the industries of oil & gas, manufacturing, and mining. In addition, the increased investment in mining and related exploration activities in the area is also driving the demand for rental of electrical equipment over the forecast period. With the highest CAGR, MEA is expected to rise, and this is due to the rising demand for electricity from the construction sector, as well as the need to supply power to outdated power plants. In addition, the rise in investments in infrastructure in countries such as the U.A.E., Oman and Saudi Arabia is expected to further fuel demand for leased power in the region in the coming years, with the market expected to expand at its fastest during the forecast period.
Power Rental Market report also contains analysis on:
Power Rental Market Segments:
By Fuel Type:
• Diesel Generators
• Gas Generators
By Power Rating:
• Up to 50 kW
• 51 kW–500 kW
• 501 kW–2,500 kW
• Peak Shaving
• Standby Power
• Base Load/ Continuous Load
• Oil & gas
• Telecom & Datacenter
• Power Rental Market Dynamics
• Power Rental Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
FAQs on Power Rental Market
· Which segment is anticipated to hold the largest market share?
· At what CAGR is the market anticipated to grow between 2020 and 2030?
· Who are the key players in the Power Rental Market?
· What could be the challenging factors in the growth of Power Rental Market?
· What are the growth drivers for the Power Rental Market?