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Power Rental Market Segment Analysis, Regional Demands, Trends, End Users and Forecast Period of 2030 | Aggreko PLC, Inc

Power Rental Market Outlook

Power Rental Market Outlook

The global power rental market is projected to surge from USD 9.8 Billion in 2022 to USD 15.15 Billion by 2030, demonstrating a 5.6% CAGR from 2023 to 2030.

BURLINGAME, CALIFORNIA, UNITED STATE, December 5, 2023 /EINPresswire.com/ -- Market Overview:

The power rental market involves the leasing of portable diesel generators, turbines, and other equipment that helps generate power for various commercial and industrial end-use applications. These rental power solutions help end-users meet temporary or backup power needs.

Market Dynamics:

The power rental market is expected to witness significant growth over the forecast period owing to rising energy demand and growing construction activities across the globe. Rapid urbanization and industrialization are leading to increased demand for electricity in developing nations. This has augmented the reliance on rental power equipment to fulfill short-term energy needs during peak times and ensure uninterrupted power supply. Additionally, power outages caused due to aging electric grids and extreme weather conditions have further boosted the sales of rental power generators in recent years.

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Major market players included in this report are:

★ Aggreko PLC
★ United Rentals Inc.
★ APR Energy
★ PLC
★ Caterpillar Inc.
★ Cummins Inc.
★ Hertz Equipment Rental Corporation
★ Generac Power Systems
★ Rental Solutions & Services LLC.

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Fuel:
✦ Diesel
✦ Gas
✦ Others

By Application:
✦ Peak Shaving
✦ Base Load/ Continuous
✦ Stand by

By End Use:
✦ Utilities
✦ Oil & Gas
✦ Events
✦ Construction
✦ Mining
✦ Manufacturing
✦ Shipping

Regional Analysis:

•North America (U.S. and Canada)
• Latin America (Mexico, Brazil, Peru, Chile, and others)
• Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
• Eastern Europe (Poland and Russia)
• Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
• The Middle East and Africa (GCC, Southern Africa, and North Africa)

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✤ Drive 1: Increasing infrastructure development activities driving demand for power rental solutions

The power rental market is being driven by the increasing infrastructure development activities taking place globally. Several countries across the world are undertaking large infrastructure development projects in sectors such as construction, transportation, mining, and events & entertainment. These infrastructure projects require huge amounts of energy and power which is driving the demand for reliable and efficient power rental solutions. Power rental generators help in meeting the temporary power demands of these projects until the main electricity grids can be set up. Countries in Asia Pacific and Middle East regions are witnessing major infrastructure pushes which is benefiting the power rental market.

✤ Driver 2: Growing demand from emergency backup power requirements propelling market growth

Another key driver for the power rental market is the growing demand from emergency backup power requirements across various end-use sectors. Critical infrastructure and facilities such as hospitals, data centers, manufacturing plants require uninterrupted power supply to avoid operational disruptions. Power rental generators are widely adopted to ensure backup power needs are met in case of grid power outages caused by natural calamities, technical faults or planned maintenance activities. They provide reliability and flexibility during emergency situations. The increasing instances of power outages globally due to aging grid infrastructure and extreme weather events is driving more organizations to procure power rental solutions for backup power resilience.

✤ Restraint : Strict emission norms posing challenges for conventional diesel and gas generators

One of the major challenges faced by the power rental market is the implementation of stringent emission norms globally aimed at curbing air pollution. Conventional diesel and gas generators that are majorly used as power rental solutions emit harmful pollutants such as particulate matter, nitrogen oxides and carbon monoxide. However, various countries and regions have formulated and enforced strict emission standards for genset equipment in tier 2, tier 3 and tier 4 categories. For example, European Union has implemented stage V emission norms. Complying with such stringent norms requires expensive after-treatment systems and advanced engine modifications which increases the overall costs for power rental companies. This acts as a restraint on the growth of conventional genset adoption for power rentals.

✤ Opportunity: Rising investments in renewable energy rentals opening new avenues

The growing investments and focus on renewable energy generation is opening up new avenues of opportunities for players in the power rental market. With intermittent power output being a challenge for solar and wind technologies, energy storage and backup power solutions play a vital role. Power rental companies are leveraging this requirement by offering electricity generated from renewable energy sources such as solar PV and wind turbine systems on a rental basis. They provide utilities, industries, mining and construction sectors with green and clean power solutions during non-availability periods. The declining costs of renewable technologies along with supportive government policies are driving more investments in this area, thus acting as a lucrative opportunity for power rental providers to expand their offerings.

✤ Trend: Advent of hybrid power rental systems to drive market evolution

A key trend being witnessed in the power rental market is the evolution and increasing adoption of hybrid power rental systems. Hybrid systems use the synergies of multiple energy sources like diesel/natural gas generators integrated with battery energy storage and renewable energy inputs. They provide higher fuel efficiency, lower emissions and reduced operational costs compared to conventional diesel gensets alone. Hybrid rental solutions are gaining traction across areas requiring continuous and cleaner power such as data centers, wastewater treatment plants and material handling facilities. The technology is also well-suited for off-grid areas. This trends indicates the market is transitioning towards more advanced, efficient and eco-friendly hybrid systems from traditional diesel-dominated set ups. Major players are focusing on development of intelligent hybrid power rental offerings.

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FAQ’S:

☛ What is the expected growth rate of the market for the forecast period of 2023-2030? What will the market size be in the anticipated time frame?
☛ What will the market size be in the anticipated time frame?
☛ What are the major factors influencing the Power Rental market over the forecast period?
☛ What are the market leaders’ winning strategies for establishing a significant presence in the Power Rental industry?
☛ What are the major market trends influencing the growth of the Power Rental market across the globe?
☛ What are the major threats and challenges that are likely to stymie the growth of the Power Rental market? What are the most significant market opportunities?
☛ What are the most critical opportunities for market leaders to succeed and profit?

Table of Contents with Major Points:

1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2023-2030 (USD Billion)
1.2.1. Power Rental Market, by Region, 2023-2030 (USD Billion)
1.2.2. Power Rental Market, by Type, 2023-2030 (USD Billion)
1.2.3. Power Rental Market, by Application, 2023-2030 (USD Billion)
1.2.4. Power Rental Market, by Verticles, 2023-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Power Rental Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Power Rental Market Dynamics
3.1. Power Rental Market Impact Analysis (2023-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Power Rental Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2023-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Power Rental Market, by Type
5.1. Market Snapshot
5.2. Global Power Rental Market by Type, Performance – Potential Analysis
5.3. Global Power Rental Market Estimates & Forecasts by Type 2023-2030 (USD Billion)
5.4. Power Rental Market, Sub-Segment Analysis

6. Global Power Rental Market, by Application
6.1. Market Snapshot
6.2. Global Power Rental Market by Application, Performance – Potential Analysis
6.3. Global Power Rental Market Estimates & Forecasts by Application 2023-2030 (USD Billion)
6.4. Power Rental Market, Sub-Segment Analysis
6.4.1. Others

7. Global Power Rental Market, by Verticles
7.1. Market Snapshot
7.2. Global Power Rental Market by Verticles, Performance – Potential Analysis
7.3. Global Power Rental Market Estimates & Forecasts by Verticles 2023-2030 (USD Billion)
7.4. Power Rental Market, Sub-Segment Analysis

8. Global Power Rental Market, Regional Analysis
8.1. Power Rental Market, Regional Market Snapshot
8.2. North America Power Rental Market
8.3. Europe Power Rental Market Snapshot
8.4. Asia-Pacific Power Rental Market Snapshot
8.5. Latin America Power Rental Market Snapshot
8.6. Rest of The World Power Rental Market

9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Keyplayer1
9.2.1.1. Key InDurationation
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments

10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

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