About Generator Rental
The power generator rental market has high growth prospects as it offers a generator on a rental basis for power generation purposes. It plays an important role in growth of the society and an essential factor for the development of any country or economy. The rise in consumer preference urbanization, industrialization, manufacturing, construction sector, lighting, and many other factors are dependent on power & power generation will further boost the product demand. The major companies are adding more innovative techniques in Asia-Pacific countries as these countries are focused on the fastest-growing verticals for the power outages issue in developing & underdeveloped countries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.96% |
In Generator Rental Market, it has been observed that most of the companies are upgrading or introducing innovative appliances such as remote monitoring of diesel generators and micro-processor based controls panels for better strength, compatibility, and stability. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Caterpillar Inc. (United States), Cummins Inc. (United States), Generac Holdings Inc. (United States), Himoinsa S.L. (Singapore), AKSA Power Generation (Turkey), KOEL Green (India), Atlas Copco AB (Sweden), Aggreko PLC (United Kingdom), Kohler Co. (United States), United Rentals, Inc. (United States) and APR Energy (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are AGCO Corporation (United States), Herc Rentals Inc. (United States), Ashtead Group plc (United Kingdom), Wartsila (Finland) and Cooper Equipment Rentals. (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Generator Rental market by Type (Diesel Generator, Natural Gas Generator and Others), Application (Utilities, Oil & Gas, Mining, Construction, Events and Others) and Region.
On the basis of geography, the market of Generator Rental has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Power Ratings, the sub-segment i.e. Below 100 kVA will boost the Generator Rental market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage VAC, the sub-segment i.e. 120 V will boost the Generator Rental market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Value-Oriented Customers and Technological Advancements Enhanced the Market Growth
Market Growth Drivers:
Rising Demand from Oil & Gas Industry and Rising Electricity Demand and Along With Increased Power Outrages
Challenges:
Lack of Awareness among Customers and Complications Regarding Installation of Equipment
Restraints:
Stringent Government Rules and Regulations and High Level of Noise Pollution Hamper the Market Growth
Opportunities:
Upsurge Offshore Drilling Activities at Middle East Countries and Aggressive Investments by Major Players
Market Leaders and their expansionary development strategies
In September 2020, Wacker Neuson Launched a new line of dual-fuel generators that can operate on either diesel or natural gas, promoting cleaner operation.
In January 2020, Launched a new line of dual-fuel generators that can operate on either diesel or natural gas, promoting cleaner operation.
Key Target Audience
Generator Rental Manufacturers, End-Use Market Participants of Different Segments of Generator Rental, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.