Power Rental Market Size will be valued at USD 16.41 billion by 2030, and it was valued at USD 10.37 billion in 2022, and grow at a CAGR of 5.9% over the forecast period 2023-2030.
The power Renting producing units that generate electricity using gas, diesel, or any other fuel is known as power renting. It includes active power plants as well as numerous components deployed in power plants. It also gives businesses the reliability, flexibility, speed, and cost-effectiveness they need to deal with short-term power outages. Energy rental services are designed to help communities by strengthening their electricity systems and providing additional industrial power and support. As a result, it is widely used in the building, mining, and oil and gas industries.
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KEY DRIVERS:
Increasing Demand for a continuous and reliable power source.
RESTRAINTS:
Generator-related government regulations.
OPPORTUNITIES:
This will be covered under the final version of the report.
CHALLENGES:
expenditures on operations.
COVID-19 has caused havoc in the world economy and energy sector, disrupting supply chains at a time when demand is high. The COVID-19 outbreak has an impact on the global economy as well as the global healthcare sector. Manufacturing, electricity generation, renewable energy, nuclear power, and oil and gas have all suffered substantial economic consequences. During the Covid-19 outbreak and the resulting recession, power rental was impacted.
Based on application, The top shaving category is expected to be the fastest expanding segment of the power rental market. In order to keep up with global energy consumption, generation must increase as well. This demand is particularly high during the summer and at night during the winter. High demand refers to a rapid increase in energy demand, which is a prevalent concern when resources are few, especially in developing countries. During peak working hours, high demand expenses are used. During peak hours, extensive shaving generators assist power utility companies in lowering their operating expenses. These fees vary by region and season, with prices that are average at the time of non-arrival. In such instances, the cost of operating this generator is quite low in comparison to the high cost of equipment in a few countries. As a result, consumers are adopting generators to meet their energy needs during peak periods in order to save money on their electricity bills. Furthermore, in a few nations, the cost of renting equipment is quite low when compared to the high cost of operating or developing a new energy facility. Resources can ensure grid stability by swiftly providing additional power to the grid as needed by utilising power renting solutions. This additional power supply method also conserves resources.
Based on fuel type, Natural gas is the fastest expanding area of the electricity leasing market. It may be used to power emergencies and portable generators, and it is one of the most cost-effective and efficient fuels among renewable energy sources. In addition, compared to diesel generators, gas generators are less expensive and more environmentally beneficial, as gas emits fewer hazardous pollutants and emissions. Natural gas generators that run on LPG, compressed gas, propane, and other gases are available in a range of sizes, from small to large. When compared to diesel generators of less than 150 KVA, these generators are comparatively economical and environmentally beneficial. The cost of gas generators, on the other hand, rises faster than the cost of diesel generators operating at the same rate. The US gas network has provided around 26.9 trillion cubic feet (TCF) of gas to nearly 77.9 million users, according to the US EIA. Because these generators are most efficient and clean than diesel generators, they help to reduce pollutants; at the time of forecasting, this category is predicted to develop at the fastest CAGR in the power renting market.
BY FUEL TYPE
Diesel
Gas
Others
BY EQUIPMENT
Generators
Transformers
Load Banks
Others
BY APPLICATION
Base load/Continuous Power
Standby power
Peak shaving
BY END-USER
Oil & gas
Utilities
Shipping
Manufacturing
Mining
Construction
Other
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Power rental market were studied in five regions: Asia Pacific, Europe, North America, South America, and the Middle East and Africa. Due to factors such as increased investment in the oil and gas, construction, and mining industries, North America is likely to continue to lead the energy rental market during the forecast period. The fastest expanding markets in the North American region are the United States and Canada.
Due to the rapid expansion of commercial spaces such as supermarkets, hotels, and department stores, Asia-Pacific has a big share, which has raised the demand for reliable electricity and hence the usage of rental facilities. Due to increased government spending on public institutions, Southeast Asian countries such as Thailand and Indonesia are experiencing the expansion of commercial infrastructure. Furthermore, rapid digitalization in line with the current Industrial Revolution 4.0 is projected to have a significant impact on the industry's expansion.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in Global Power rental Market are Herc Rentals Inc., Caterpillar, Cummins Inc., Aggreko, APR Energy, United Rentals, Inc., Ashtead Group plc, Al Faris, Kohler Co., Bredenoord, Altaaqa Global, Atlas Copco AB, Hertz System, Inc., HIMOINSA and Other.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 10.37 Billion |
| Market Size by 2030 | US$ 16.41 Billion |
| CAGR | CAGR of 5.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Fuel Type (Diesel, Gas, Others) • By Equipment (Generators, Transformers, Load Banks, Others) • By Application (Base Load/Continuous Power, Standby Power, Peak Shaving) • By End-User (Oil & Gas, Utilities, Shipping, Manufacturing, Mining, Construction, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Herc Rentals Inc., Caterpillar, Cummins Inc., Aggreko, APR Energy, United Rentals, Inc., Ashtead Group plc, Al Faris, Kohler Co., Bredenoord, Altaaqa Global, Atlas Copco AB, Hertz System, Inc., HIMOINSA and Other. |
| Key Drivers | • Increasing Demand for a continuous and reliable power source. |
| RESTRAINTS | • Generator-related government regulations. |
The Power rental Market size was valued at 9.8 billion in 2021 at a CAGR of 5.9%.
Increasing Demand for a continuous and reliable power source is driving the Power rental Market.
The key players in Global Power rental Market are Herc Rentals Inc., Caterpillar, Cummins Inc., Aggreko, APR Energy, United Rentals, Inc., Ashtead Group plc, Al Faris, Kohler Co., Bredenoord, Altaaqa Global, Atlas Copco AB, Hertz System, Inc., HIMOINSA and Other.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Power rental Market Segmentation, by Fuel type
8.1Introduction
8.2 Diesel
8.3 Gas
8.4 Others
9. Global Power rental Market Segmentation, by equipment
9.1 Introduction
9.2 Generators
9.3 Transformers
9.4 Load Banks
9.5 Others
10. Global Power rental Market Segmentation, By application
10.1 Introduction
10.2 Base load/Continuous Power
10.3 Standby power
10.4 Peak shaving
11. Global Power rental Market Segmentation, By End-User
11.1 Introduction
11.2 Oil & gas
11.3 Utilities
11.4 Shipping
11.5 Manufacturing
11.6 Mining
11.7 Construction
11.8 Other
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 HITACHI LTD.
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Herc Rentals Inc.
14.3 Caterpillar
14.4 Cummins Inc.
14.5 Aggreko
14.6 APR Energy
14.7 United Rentals, Inc.
14.8 Ashtead Group plc
14.9 Al Faris
14.10 Kohler Co.
14.11 Bredenoord
14.12 Altaaqa Global
14.13 Atlas Copco AB
14.14 Hertz System, Inc.
14.15 HIMOINSA
14.16 Other.
15. Competitive Landscape
15.1 Competitive Benchmark
15.2 Market Share analysis
15.3 Recent Developments
16. Conclusion
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