The Worldwide Power Rental Industry is Expected to Reach $12.8 Billion by 2027
DUBLIN, April 20, 2022 /PRNewswire/ -- The "Power Rental Market by Fuel Type (Diesel, Natural Gas), Equipment (Generators, Transformers, Load Banks), Power Rating (Up to 50 kW, 51-500 kW, 501-2500 kW, Above 2500 kW), Application, End User and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global power rental market is projected to reach USD 12.8 billion by 2027 from an estimated market size of USD 9.8 billion in 2022, at a CAGR of 5.6% during the forecast period.
The key drivers for the growth of the power rental market include government mandates and policies for environmental protection, the need for safe working environments in industrial facilities, increased demand for equipment reliability and extended lifecycle, and industrial development in developing countries.
The Diesel segment is expected to be the largest segment of the power rental market, by fuel type, during the forecast period
The power rental market, by fuel type, is segmented into diesel, natural gas and others. The diesel type segment is expected to be the largest segment in the power rental market, by fuel type, during the forecast period. The diesel segment is driven by the easy availability and storage of diesel in all the regions.
The 501 kW - 2500 kW segment is expected to be the largest contributor to the power rental market, by power rating, during the forecast period
The power rental market, by power rating, is segmented into Up to 50 kW, 51 kW - 500 kW, 501 kW - 2500 kW and above 2500 kW. The 501 kW - 2500 kW segment is expected to hold the largest size of the market for power rental during the forecast period. The 501 kW - 2,500 kW rating segment is driven by the increasing demand from the mining and utilities end-user segments.
The base load/continuous power segment is expected to be the largest market, by application, during the forecast period
The power rental market, by application, is segmented into Standby power, peak shaving and base load/continuous power. The market for base load/continuous power is expected to hold the largest size of the market for power rental during the forecast period. The growth of the base load/continuous power segment is driven by the increase in demand from events and power outages in rural areas.
The Generator segment is expected to be the largest market, by equipment, during the forecast period
The power rental market, by equipment, is segmented into generators, transformers, load banks and others. The generator segment is expected to be the largest market for power rental during the forecast period. The growth of the generators segment is driven by the increasing demand from end-use industries for various applications, majorly standby power.
The Utility end-user segment is expected to be the largest market, by end-user, during the forecast period
The power rental market, by end-user, is segmented into utility, oil & gas, construction, manufacturing, mining & metals, IT & Data centers, corporate & retail, events and others. The utility segment is expected to be the largest market for power rental during the forecast period. The growth of the utilities end-user segment is driven by the increasing requirement for power during peak hours in summer and natural calamities.
The retail rental segment is expected to be the largest market, by rental type, during the forecast period
The power rental market, by rental type, is segmented into retail rental and project rental. The retail rental segment is expected to be the largest market for power rental during the forecast period. The market for retail rental is driven by the requirement for short-duration rental services, especially in all the developed regions.
North America is expected to dominate the global power rental market
The North America region is estimated to be the largest market for the power rental, followed by Asia Pacific. North America is expected to continue to dominate the power rental market during the forecast period, owing to factors such as increasing investments in the oil & gas, construction, and mining industries.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Power Rental Market, 2022-2027
4.2 Power Rental Market, by Region
4.3 Power Rental Market, by End-user
4.4 Power Rental Market, by Application
4.5 Power Rental Market, by Power Rating
4.6 Power Rental Market, by Fuel Type
4.7 Power Rental Market, by Equipment
4.8 Power Rental Market, by Rental Type
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rapid Industrialization in Developing Economies of Asia-Pacific
5.2.1.2 Surging Demand for Uninterrupted & Reliable Power Supply
5.2.1.3 Growing Need for Electrification and Continuous Power Supply in Developing Regions
5.2.2 Restraints
5.2.2.1 Growing Adoption of Renewable Energy Sources and Energy Storage Technologies
5.2.2.2 Stringent Government Regulations Associated with Generators
5.2.3 Opportunities
5.2.3.1 Integration of Power Rental Equipment with Renewable Energy Sources
5.2.3.2 Technological Advancements in Power Rental Equipment for Operations Enhancement
5.2.4 Challenges
5.2.4.1 Increased Operating Expenditure of Diesel Generators Owing to High Fuel Prices
5.2.4.2 Raw Material and Component Shortage and Sudden Fluctuation in Demand for Power Rental Equipment
5.3 Porter's Five Forces Analysis
5.4 Key Stakeholders & Buying Criteria
5.4.1 Key Stakeholders in Buying Process
5.4.2 Buying Criteria
5.5 COVID-19 Impact Analysis
5.5.1 COVID-19 Health Assessment
5.5.2 COVID-19 Economic Assessment
5.6 Average Selling Price Trend
5.7 Value Chain Analysis
5.7.1 Component Manufactures
5.7.2 Equipment Manufacturers/Assemblers
5.7.3 End-users
5.7.4 Maintenance and Repairs
5.8 Technology Analysis
5.8.1 Direct Power Installation Technology
5.8.2 Power Management Systems
5.8.3 Asset Performance Management Systems
5.9 Key Conferences & Events to be Held During 2022-2023
5.10 Market Map
5.11 Case Study Analysis
5.11.1 April 2020: Mems Provided Power Supply to Nhs Nightingale Hospital in London in Short Span During COVID-19
5.11.2 December 2019: Aggreko Provided Power Rental Solutions for 4 Mw Off-Grid Gas Plant for Mine Reopening
5.11.3 January 2021: Pr Power Provided Power Rental Equipment in Short Span in Western Australia
5.12 Trends/Disruptions Impacting Customers' Businesses
5.12.1 Revenue Shift and New Revenue Pockets
5.13 Innovations and Patent Registrations
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.13.2 Codes and Regulations Related to Power Rental Equipment
5.14 Trade Data Statistics
5.15 Tariffs, Codes, and Regulations
5.15.1 Tariffs Related to Generators
6 Power Rental Market, by Fuel Type
6.1 Introduction
6.2 Diesel
6.2.1 Easy Availability and Storage of Diesel Are Driving Diesel Segment
6.3 Natural Gas
6.3.1 Expanding Gas Distribution Network to Drive Growth of Natural Gas Segment During Forecast Period
6.4 Others
7 Power Rental Market, by Power Rating
7.1 Introduction
7.2 Up to 50 Kw
7.2.1 Up to 50 Kw Power Rental Equipment Are Compact and Portable
7.3 51 Kw-500 Kw
7.3.1 Generators in 51 Kw-500 Kw Power Rating Category Are Mostly Used in Construction and Oil & Gas Industries
7.4 501 Kw - 2,500 Kw
7.4.1 501-2,500 Kw Generators Are Mainly Used to Provide Standby Power
7.5 Above 2,500 Kw
7.5.1 Above 2,500 Kw Generators Are Used for Uninterrupted Power Supply in Mining and Offshore Oil & Gas Operations
8 Power Rental Market, by Application
8.1 Introduction
8.2 Peak Shaving
8.2.1 Need to Reduce Utility Costs Drives Demand for Peak Shaving
8.3 Standby Power
8.3.1 Requirement of Power During Grid Outage is Driving Demand for Standby Power
8.4 Base Load/Continuous Power
8.4.1 Increasing Demand from Utilities and Mining End-users is Driving Base Load/Continuous Power Segment
9 Power Rental Market, by Equipment
9.1 Introduction
9.2 Generators
9.2.1 Generators Are Used for Standby Power Applications in Telecom, Data Center, and Other Industries
9.3 Transformers
9.3.1 Increasing Demand for Utility-Scale Temporary Power Plants is Driving Transformers Market
9.4 Load Banks
9.4.1 Increasing Number of Power Plant Installations Worldwide is Fueling Demand for Load Bank
9.5 Others
10 Power Rental Market, by End-user
10.1 Introduction
10.2 Utilities
10.2.1 Increasing Demand for Continuous Power is Driving Demand for Power Rental Solutions from Utilities
10.3 Oil & Gas
10.3.1 Growing Oil and Gas Explorations is Driving Market for Power Rental Solutions
10.4 Mining & Metals
10.4.1 Growing Exploration of Metals & Minerals Through Mining is Driving Market for Power Rental Solutions
10.5 Manufacturing
10.5.1 Increasing Investment in Manufacturing Sector in Asia-Pacific is Driving Power Rental Market
10.6 Construction
10.6.1 Infrastructure Development Activities in Southeast Asian Countries is Expected to Propel Market Growth
10.7 It & Data Centers
10.7.1 Increasing Number of Data Centres is Driving Market for Power Rental Solutions
10.8 Corporate & Retail
10.8.1 Massive Investments in Corporate Sector by Both Public and Private Enterprises is Expected to Propel Market Growth
10.9 Events
10.9.1 Growing Number of Public Events is Boosting Demand for Power Rental Solutions
10.10 Others
11 Power Rental Market, by Rental Type
11.1 Introduction
11.2 Retail Rental
11.2.1 Requirement for Continuous Power Supply During Peak Hours and Power Outages is Driving Market
11.3 Project Rental
11.3.1 Demand for Rental Power from Utilities and Other Long-Duration Users is Propelling Market Growth
12 Power Rental Market, by Region
13 Competitive Landscape
13.1 Key Players Strategies
13.2 Market Share Analysis of Top Five Players
13.3 Revenue Analysis of Top Five Market Players
13.4 Competitive Leadership Mapping
13.4.1 Star
13.4.2 Emerging Leader
13.4.3 Pervasive
13.4.4 Participant
13.5 Start-Up/Sme Evaluation Quadrant, 2021
13.5.1 Progressive Companies
13.5.2 Responsive Companies
13.5.3 Dynamic Companies
13.5.4 Starting Blocks
13.6 Power Rental Market: Company Footprint
13.7 Competitive Scenario
14 Company Profiles
14.1 Key Players
14.1.1 Aggreko plc
14.1.2 Ashtead Group plc
14.1.3 United Rentals Inc
14.1.4 Atlas Copco
14.1.5 Caterpillar Inc.
14.1.6 Cummins Inc.
14.1.7 Herc Rentals
14.1.8 Generac Holdings Inc.
14.1.9 Wacker Neuson
14.1.10 Kohler Co
14.1.11 Soenergy International
14.1.12 Bredenoord
14.1.13 Allmand Brothers Inc.
14.1.14 Multiquip Inc
14.1.15 Other Key Players
14.1.15.1 J&J Equipment Rentals & Sales
14.1.15.2 Ahern Rentals
14.1.15.3 One Source Rentals
14.1.15.4 D.I.Y. Rentals
14.1.15.5 Apr Energy
14.1.15.6 Al Faris Group
14.1.15.7 Shenton Group
14.1.15.8 Propower Rental
14.1.15.9 Yanmar
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/5xw55i
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