Power Rental Market Size, Share, Analysis, Trends, Growth, 2028

The global Power Rental Market accrued earnings worth approximately 9.79 (USD Billion) in 2021 and is predicted to gain revenue of about 16.71 (USD Billion) by 2028, is set to record a CAGR of nearly 7.8% over the period from 2022 to 2028. The study provides assessment and analysis of the Power Rental Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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Power Rental Market: Outlook

Power rental, which is also referred to as providing power on hire, has massive benefits in comparison to power equipment purchase. Power generators on lease prove beneficial over purchased ones as former provide susceptibility in requirement of power ratings along with carrying low maintenance & deployment charges. Apart from this, power rental can be easily availed within a short notice and have low initial costs. Energy producing firms prefer getting power generators on lease due to lack of access to strong grid infrastructure, temporary power needs, and high cost on maintaining current power supply equipment.

Reportedly, power on rent is preferred by firms established in regions either having poor power grid infrastructure facility or whose grid infrastructure is in phase of development. For instance, Asian and Latin American countries prefer power rental. Additionally, mining sector is largest consumer of power rental. Power rental is preferred due to constant outage as a result of load shedding and need of extra power due to heavy power load.

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Power Rental Market: Growth Drivers

Humungous requirement for electrification and incessant supply of electricity will boost global market trends. Apart from this, unexpected power failures and load shedding has resulted in massive need of power, thereby widening the scope of power rental business. In addition to this, mining sector requires high power rating generator for carrying out digging operations and hence miners prefer power rental for fulfilling their daily but temporary electricity demand. Furthermore, power grid issues, natural disasters, and sudden failure of power producing device will pave a way for rise in use of power rentals. These abovementioned factors will contribute remarkably towards earnings of power rental industry.

Moreover, massive need for reliable power backup in industrial and commercial sectors will enhance use of power rental systems, thereby catalyzing market growth. Nonetheless, strict environmental legislations pertaining to GHG emissions & noise control can restrict expansion of power rental market.

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Power Rental Market: Regional Growth Dynamics

The Middle East and African Market To Register Fastest Growth Over Forecasting Timeline

Growth of power rental market in the Middle East and Africa over forecasting years can be attributed to a massive surge in ongoing construction ventures in countries such as UAE and Saudi Arabia. Furthermore, thriving oil & gas sector in region is projected to create new growth avenues for power rental industry in the Middle East and Africa. Low access to power grid and rise in mining activities in African regions has resulted in huge demand for power rental in sub-continent. Huge need of power for oil & gas explorations from reservoirs has culminated into massive use of power rental in Africa, thereby driving regional market trends.

Power Rental Market: Competitive Insights

Some of the giant players have established their supremacy in power rental business and are predicted to try to retain their market domination by implementing innovative business strategies. These players include Atlas Copco, United Rentals, Inc., Shenton Group, Cummins Inc., ProPower Rental, APR Energy Limited, Kohler-SDMO, Caterpillar Inc., Power Electrics, NIDS GROUP, and Speedy Hire plc.

The global Power Rental Market is segmented as follows:

By Power Rating

• Below 75kVA
• 75-375 kVA
• 375-750 kVA
• Above 750 kVA

By Fuel Type

• Diesel
• Gas
• Others

By End-User

• Mining
• Utility
• Construction
• Manufacturing
• Oil & Gas

By Application

• Continuous Load
• Peak Load
• Standby Load

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa