Power Rental Market by Fuel Type, Equipment, Power Rating, Application, End-user and Region – Global Forecast to 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–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 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.

Market Dynamics

Drivers

• Rapid Industrialization in Developing Economies of Asia-Pacific
• Surging Demand for Uninterrupted & Reliable Power Supply
• Growing Need for Electrification and Continuous Power Supply in Developing Regions

Restraints

• Growing Adoption of Renewable Energy Sources and Energy Storage Technologies
• Stringent Government Regulations Associated with Generators

Opportunities

• Integration of Power Rental Equipment with Renewable Energy Sources
• Technological Advancements in Power Rental Equipment for Operations Enhancement

Challenges

• Increased Operating Expenditure of Diesel Generators Owing to High Fuel Prices
• Raw Material and Component Shortage and Sudden Fluctuation in Demand for Power Rental Equipment

Companies Mentioned

• Aggreko plc
• Ahern Rentals
• Al Faris Group
• Allmand Brothers Inc.
• Apr Energy
• Ashtead Group plc
• Atlas Copco
• Bredenoord
• Caterpillar Inc.
• Cummins Inc.
• D.I.Y. Rentals
• Generac Holdings Inc.
• Herc Rentals
• J&J Equipment Rentals & Sales
• Kohler Co
• Multiquip Inc
• One Source Rentals
• Propower Rental
• Shenton Group
• Soenergy International
• United Rentals Inc
• Wacker Neuson
• Yanmar

For more information about this report visit https://www.researchandmarkets.com/r/4cjr9b

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