U.S. Power Rental Market Report 2023 to 2029: Government’s Focus on the Generation of Power Through Clean Energy & Investments Likely to Boost the Market – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “U.S. Power Rental Market – Strategic Assessment & Forecast 2023-2029” report has been added to ResearchAndMarkets.com’s offering.
The U.S. power rental market is expected to grow at a CAGR of approximately 4.29% from 2022 to 2029.
The California Energy Commission awarded USD 2 million in grants to 10 Native American tribes in early 2021. The grants support climate and energy planning efforts on tribal lands and in tribal communities, including studies on developing renewable resources, microgrids, and energy storage systems. Between 2010 and 2021, DOE invested about USD 16 million in more than 35 tribal renewable energy and energy efficiency projects in California. The construction phase of various projects involves power for long hours of operation, which would create demand for rental generators in the S. power rental market.
The Washington State Building Code Council (Building Council) April 2022 approved a new regulation (WSR 22-02-076). This regulation severely restricts the use of natural gas in new commercial buildings and instead calls for the switch to electrically powered appliances and HVAC (heating, ventilation, and air conditioning) equipment, with the restrictions strictly enforced from July 1, 2023.
The Climate Mobilization Act 2019 is a climate solution for any city in the world. It consists of a slate of climate laws designed to cut carbon dramatically in New York City, including a landmark law regulating buildings’ greenhouse gas emissions. New York City’s all-electric new buildings law phases fossil fuels out of new construction starting in 2024.
The US Government made plans to improve the nation’s infrastructure through the Rural program, which will invest nearly USD 2 billion through 2026 in projects. This will enhance highways, bridges, and tunnels, address highway safety, boost access to agricultural, commercial, energy, or freight facilities that support the economy, and offer flexible transportation services to rural and Tribal regions.
Government’s Focus on the Generation of Power Through Clean Energy & Investments Are Likely to Boost the U.S. Power Rental Market
- In November 2021, the US government signed a USD 1.2 trillion infrastructure plan into law, of which USD 550 billion will be spent on broadband, utilities, and broadband. In addition, the legislation will spend USD 110 billion on bridges, roads, and other major projects, such as an investment of USD 66 billion in passenger and freight rail, including potential upgrades to Amtrak.
- Over the year 2022, APR Electricity Ltd. (APR), a wholly-owned subsidiary of Atlas Corp., will supply the Imperial Irrigation District (IID) of California with about 75 MW of backup energy. Following APR’s successful performance of services with IID in 2021, the extension was granted. Within its 6,471 square mile service zone, which includes the entirety of Imperial County and portions of Riverside and San Diego counties, APR’s fast-track power solutions help IID maintain frequency and provide backup capacity.
Safety Concerns Demand for Testing Standards Across Various States in the U.S.
- In July 2022, Cummins introduced the C1000D6RE, which may be used for various large-scale sectors that require rental power, such as construction sites, emergency power, large-scale events, industrial buildings, and utilities located in rural or urban regions.
- The DOE (Department of Energy) Office of Electricity launched the USD 1.1 million Digitizing Utilities Prize to transform digital systems in the energy sector through data analytics, processing, quality assurance, storage, and deletion.
- Lincoln Electric launched a new lineup of welder generator Frontier 400X powered by advanced diesel engines. It was powered by a 24.7 HP turbocharged Perkins diesel engine. It offers 11 kW of single-phase or three-phase auxiliary power for critical sites and 400 amps of welding output to handle high amperage applications.
KEY QUESTIONS ANSWERED
- How big is the U.S. power rental market?
- What is the growth rate of the U.S. power rental market?
- Which are the key vendors in the U.S. power rental market?
- What are some significant trends in the U.S. power rental market?
- Which fuel type is projected to dominate the U.S. power rental market?
Market Segmentation
Segmentation By Fuel
- Natural Gas
- Diesel
- Others (Propane, Hydrogen, Renewable Sources)
Segmentation By Power Rating
- >75KVA
- 75-375KVA
- 375-1,000KVA
- Above 1,000 KVA
Segmentation By Equipment
- Generators
- Load Banks
- Transformers
- Others
Segmentation By End-User
- Construction
- Retail
- Oil & Gas
- Mining
- Events
- Utilities
- IT & Data Center
- Manufacturing
- Others
Segmentation By Application
- Standby
- Continuous
- Peak shaving
Prominent Vendors
- United Rentals, Inc.
- Sunbelt Rentals, Inc.
- Aggreko
- Herc Rentals Inc.
- Caterpillar
- Atlas Copco
- Cummins Inc.,
- KOHLER
Other Prominent Vendors
- Generac Power Systems, Inc.
- APR Energy
- H&E Equipment Services, Inc.
- Sunstate Equipment Co., LLC
For more information about this report visit https://www.researchandmarkets.com/r/k3kjnr
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