US Generator Rental Industry Report 2024: Increasing Power Outages and Hosting Events, Festivals, and Temporary Installations Fueling Substantial Demand - Forecasts to 2029

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Mar 08, 2024, 22:00 ET

DUBLIN, March 8, 2024 /PRNewswire/ -- The "US Generator Rental Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The U.S. generator rental market was valued at $2.58 billion in 2023 and is expected reach a value of $3.24 billion by 2029, growing at a CAGR of 3.85% from 2023 to 2029

The U.S. generator rental market report contains exclusive data on 25 vendors. Aggreko, Ashtead Group, Atlas Copco, Herc Rentals, and United Rentals are some of the key players in the U.S. generator rental market.

The competitive landscape characterizes the U.S. generator rental market, prompting key players to engage in strategic partnerships and collaborations. Companies are forming alliances to expand their regional footprint, offer a comprehensive range of services, and enhance their technological capabilities.

The rising power outages, whether due to severe weather events, grid vulnerabilities, or maintenance activities, are a crucial driver for generator rentals. Over the past 20 years, the number of power outages caused by bad weather has increased, placing pressure on the aging electrical grid in the U.S. The frequency and length of power outages have grown due to this. Businesses and industries recognize the importance of reliable backup power sources to ensure uninterrupted operations, creating a heightened demand for generator rental services.

Hosting events, festivals, and temporary installations creates a substantial demand for generator rentals in the U.S. Events ranging from music festivals to corporate gatherings require reliable power sources for lighting, sound systems, catering equipment, and other essential components. Generator rental companies cater to this demand by providing temporary power solutions tailored to the unique requirements of various events, contributing to the market's overall growth.

U.S. GENERATOR RENTAL MARKET INSIGHTS

The diesel generator rental market has the largest market share by revenue in the fuel type segment in 2023. Factors such as high reliability, ease of use, and high demand from large-scale industries have propelled the growth of diesel generator rental in the region. The segment is expected to maintain dominance due to the high demand from players in several sectors with large-scale operations. Despite reservations and resistance from environmental groups, regulators and localities reluctantly approve diesel as a primary source of power generation due to low electric grid reliability.
Based on the power rating, the < 75KVA market is growing significantly, with the fastest CAGR of 5.46% during the forecast period. Generators with a capacity of less than 75KVA are increasing significantly due to their versatility and suitability for small-scale applications. They are commonly used for events, residential backup power, and smaller construction projects across the U.S., providing a reliable power source for modest energy demands.
The continuous power application segment is growing at the highest CAGR of 4.32%% during the forecast period. Continuous power generators are often deployed in industrial settings where a reliable and uninterrupted power supply is essential for constant manufacturing. These generators ensure that industrial operations run seamlessly without disruptions. As these generators provide power without disruptions, the demand for continuous generators increases.
The construction sector by end-users accounted for the largest revenue share owing to the high adoption by the construction industry to provide temporary power solutions to construction sites. The U.S. generator rental market caters to remote and off-grid applications, including construction sites in remote locations, mining operations, and events held in areas with limited access to the main power grid.

KEY QUESTIONS ANSWERED

How big is the U.S. generator rental market?
What is the projected growth rate of the U.S. generator rental market?
What are the rising trends in the U.S. generator rental market?
Who are the key players in the U.S. generator rental market?

VENDORS LANDSCAPE

Key Vendors

Aggreko
Ashtead Group
Atlas Copco
Herc Rentals
United Rentals

Other Prominent Vendors

Aksa Power Generation
AquaTech USA
Carrier
Caterpillar
Cummins
Daikin
Doosan Portable Power
Duthie Power Services
Generac Power Systems
Grandwatt
H&E Equipment Services
HIMOINSA
Home Depot
Kohler
Nishio
Prime Power Rentals
R.S. Equipment
Red-D-Arc
Taylor Power Systems
Trinity Power

SEGMENTATION & FORECAST

Fuel Type (Revenue)

Diesel
Natural Gas
Others

Power Rating (Revenue)

< 75KVA
75-375KVA
376-1000KVA
>1000KVA

Application (Revenue)

Standby Power
Continuous Power
Peak Shaving

End-User (Revenue)

Construction
Retail
Oil & Gas
Mining
Events
Utilities
I.T. & Data Centers
Manufacturing
Others

For more information about this report visit https://www.researchandmarkets.com/r/maryql

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SOURCE Research and Markets