Global Power Rental Market growing at a CAGR of 5.2% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Sep 2023
Key Market Overview
Consegic Business Intelligence analyzes that the power rental market is predicted to grow at a compound annual growth rate of 5.2% from 2023 to 2031 and is expected to reach USD 15,855.94 million in 2031 which was valued at USD 9,991.86 million in 2023 and USD 9,476.00 million in 2022.
The report highlights the increasing demand for electrification & continuous power supply, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the power rental market.
Global Power Rental Market By Overview
The power rental market is bifurcated into fuel type, power rating, application, and end user. Based on fuel type, the market is segmented into diesel, natural gas, and others. In 2022, the diesel segment dominate in the overall power rental market. The power rating segment is categorized into below 75 kVA, 75-375 kVA, 375-750 kVA, and above 750 kVA. In 2022, the above 750 kVA segment accounted for the highest market share in the power rental market. Based on application, the market is segmented into standby power, peak shaving, and base load/continuous power. In 2022, the base load/continuous power segment dominate in the overall power rental market. The end user segment is categorized into metal & mining, construction, manufacturing, oil& gas, IT & data centers, events, and others. In 2022, the metal & mining segment accounted for the highest market share in the power rental market.
Get Free SampleMarket Dynamics
Driver:
- Increasing demand for electrification & continuous power supply
- High usage of power rental services in the mining industry
Restraints:
- Stringent government regulations for the use of diesel-powered generators
Market Segmentation:
| Report Attributes | Report Details |
| By Fuel Type | Diesel, Natural Gas, and Others |
| By Power Rating | Below 75 kVA, 75-375 kVA, 375-750 KVA, and Above 750 kVA |
| By Application | Standby Power, Peak Shaving, and Base Load/Continuous Power |
| By End User | Metal & Mining, Construction, Manufacturing, Oil& Gas, IT & Data Centers, Events, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Aggreko, Atlas Copco, Shenton Group, and caterpillar Inc., which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the power rental market is expected to witness substantial growth in the coming years due to the Increasing usage of power rentals in industrial as well as commercial electricity in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Aggreko
- Atlas Copco
- Shenton Group
- APR Energy
- NIDS GROUP
- Caterpillar Inc.
- Cummins Inc.
- Kohler-SDMO
- Pump Power Rental
- Sudhir Power Ltd.
- Modern Hiring Service
- Global Power Supply
- FG Wilson