Global Power Rental Market Overview:
Power rental system is an electrical back-up system which provides continuous power generation by the generator, load banks, transformer, and others. Power rental system run on natural gas, liquid propane gas, diesel, and other fuels. Power rental system is used in numerous industries such as oil & gas, events, construction, mining, and others. For instance, utility companies use rental generators during peak demand period, and manufacturing companies use diesel generators for continuous power generation. The increasing demand for power rental system from developing countries expected to drive the market over the forecasted period.
As per latest study released by AMA Research, the Global Power Rental market is expected to see growth rate of 6.1%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Emphasizing On Customized Compressed Air Rental Solution and Increasing Demand for Diesel Generators from the Manufacturing Sector
Market Growth Drivers:
Increasing Demand for Power Rental Systems for Emerging Economies and Technological Development in the Air Compressors
Challenges:
Reducing Pollution from Power Rental System
Restraints:
Fluctuating Raw Material Prizes and Stringent Government Emission Regulations
Opportunities:
Increasing Demand for Natural Gas Generators and Development in Obsolete Permanent Power Plants
Competitive Landscape:
The number of players is present in the market hence fragmented nature of the market. Markey leaders are focusing on technological advancement in power rental systems such as compressed air rental solution, natural gas generators, and others.
Some of the key players profiled in the report are Aggreko (United Kingdom), Caterpillar (United States), United Rental (United States), Atlas Copco (Sweden), Cummins (United States), Ashtead Group (United Kingdom), SEL (United States), APR Energy (United States), Kohler (United States), Rental Solutions & Services (United Arab Emirates), HERC (United States) and Generac Power Systems (United States). Additionally, following companies can also be profiled that are part of our coverage like Wartsila Corporation (Finland), Wacker Neuson (Germany) and Altaaqa Global Energy Services (United Arab Emirates). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Power Rental market by 2030. Considering Market by Power Rating, the sub-segment i.e. Less than 10 kW will boost the Power Rental market. Considering Market by Equipment, the sub-segment i.e. Generator will boost the Power Rental market. Considering Market by End-User Industries, the sub-segment i.e. Utilities will boost the Power Rental market. Considering Market by Fuel , the sub-segment i.e. Diesel will boost the Power Rental market.
Latest Market Insights:
In August 2023, Cummins Inc., a major engine and power generation company, acquired CTI Power & Water, a leading provider of temporary power and water solutions. This acquisition strengthens Cummins' presence in the rental market and expands its offerings.
"In March 2022, United Rentals announced that it offer its clients a zero-emission power option with the addition of POWRBANK battery systems to its rental fleet. United Rentals' relationship with manufacturer POWR2 Energy Solutions provides an investment in sustainable workplace solutions for North American clients. POWRBANK is a compact power storage system that works with diesel engines to lessen runtime, pollution, congestion, and fuel wastage. The system makes use of high-density lithium-ion batteries, inverters, and load-sensing electronics. The United Rentals POWRBANK type has a power output range of 40KW to 60KW and a storage capacity of 60KW to 120KW hours
What Can be Explored with the Power Rental Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Power Rental Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Power Rental
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Power Rental market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Power Rental market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Power Rental System Supplier, Power Rental System Panel Technicians and Technologists, Research Organizations and Consulting Companies, Associations, Forums, and Alliances Related To Power Rental System, Raw Material Suppliers of Traders, Distributors, and Suppliers of Power Rental System, Government and Regional Agencies and Research Organizations, Research and Consulting Firms and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.