Power Rental Market: Industry Overview, Growth, Trends, Opportunities and Forecast Till 2026

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According to IMARC Group’s latest report, titled “Power Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”. the global market reached a value of US$ 8.6 Billion in 2020. Power rental services offer temporary electricity supply for construction purposes, mine excavation projects, oil and gas exploration activities, etc. Some of the most common types of power rental solutions available are welding generators, diesel or gas generators, mobile lighting towers, distribution boards, and cables.  These solutions offer reliability, flexibility, speed, and cost-effectiveness to businesses for coping with brief shortages of power. Owing to these benefits, power rental services find extensive applications across diverse industries, such as construction, mining, oil & gas, etc.

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The escalating demand for continuous and uninterrupted power supply for various critical application areas, including data centers, nuclear power plants, hospitals, fire stations, etc., is currently driving the market for power rentals. Furthermore, the introduction of several favorable government initiatives to expand airport and metro networks, along with the growing construction of retail infrastructures, is also catalyzing the demand for power rental solutions. Various other factors, including the increasing adoption of natural gas-based power generators and the rising utilization of renewable energy as an alternative source of power to minimize carbon emissions, are projected to further bolster the demand for power rental services across the globe in the coming years. Looking forward, IMARC Group expects the power rental market to grow at a CAGR of around 6% during 2021-2026.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

• Aggreko Plc
• Caterpillar, Inc.
• Atlas Copco Group
• Cummins, Inc.
• United Rentals, Inc.
• HIMOINSA S.L.
• Horizon Acquisition (Horizon Power Systems)
• The Hertz Corporation
• Generac Power Systems
• Wacker Neuson SE
• Wärtsilä Oyj Abp
• Speedy Hire Plc
• Smart Energy Solutions (SES)
• SoEnergy International, Inc.

Market Segmentation:

Breakup by Equipment Type:

• Generator
• Transformer
• Load Bank
• Others

Breakup by Fuel Type:

• Diesel
• Natural Gas
• 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 Industry:

• Utilities
• Oil & Gas
• Events
• Construction
• Mining
• Data Centers
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:                                                    

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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