Power Rental Market by Fuel Type (Diesel, Natural Gas), Equipment (Generators, Load Banks, Transformers), Application, End-User - Global Forecast 2024-2030

Power Rental Market by Fuel Type (Diesel, Natural Gas), Equipment (Generators, Load Banks, Transformers), Application, End-User - Global Forecast 2024-2030

The Power Rental Market size was estimated at USD 9.06 billion in 2023 and expected to reach USD 9.51 billion in 2024, at a CAGR 5.23% to reach USD 12.96 billion by 2030.

Power rental refers to the service of renting power generation equipment to meet temporary, supplementary, & emergency power requirements. This service is utilized across various industries, including construction, manufacturing, event management, mining, and utilities, among others. The equipment rented commonly includes generators, transformers, load banks, and other accessories necessary to ensure an uninterrupted power supply. Discrepancies between energy supply and demand, especially in remote areas, drive the power rental market. Additionally, significant infrastructure activities across developing nations propel the demand for temporary power solutions. However, high operational costs involved in transporting and maintaining equipment hamper the market expansion. Furthermore, integrating renewable energy sources with power rental systems and adopting more energy-efficient and eco-friendly power rental solutions present significant opportunities for market expansion.

Regional Insights

In the American region, the power rental market is propelled by the growing demand for reliable, temporary power solutions in sectors including construction, oil and gas, and events. The trend towards adopting sustainable and clean energy sources has influenced the rental market, with an increase in the rental of eco-friendly generators and power supply units. EU countries exhibit a growing demand for power rental solutions in line with stringent environmental regulations pushing for reductions in carbon emissions. The market is characterized by a high demand for energy-efficient and renewable energy-powered temporary power sources. The Middle East's power rental market is primarily driven by the construction, oil, and gas sectors and large-scale events. Despite abundant natural gas reserves, there is an increasing inclination towards incorporating renewable energy solutions in power rentals. In the APAC region, rapid industrial growth and urbanization are increasing the demand for temporary power solutions, particularly in construction and public events. The countries are investing in clean energy power rental solutions to reduce carbon emissions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Power Rental Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing demand for energy supply in remote areas
Rising infrastructure activities across developing economies
Expanding oil & gas exploration activities

Market Restraints

High operational costs involved in transporting and maintaining equipments

Market Opportunities

Integration of renewable energy sources with power rental systems
Advancements in battery storage technology to provide cleaner, more efficient temporary power

Market Challenges

Stricter emissions standards regarding diesel-powered rental units

Market Segmentation Analysis

Equipment: Rising infrastructure activities globally accelerating demand for generators and transformers
End-User: Expanding operations of telecom and datacenter sectors drives the demand for high efficient power solutions

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Power Rental Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Power Rental Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Speedy partners to rent fuel-cell generators

Speedy Hire has announced a strategic partnership with renewable energy specialist AFC Energy, focusing on the rental of cutting-edge hydrogen fuel-cell powered generators. This collaboration kick-started with the cross-hiring of AFC Energy’s H-Power Tower Generators, setting the stage for a proposed 50/50 joint venture.

Star Power expands with partnership

Powertek Services, a Bristol-based enterprise known for its comprehensive power equipment and emergency solutions catering to a diverse clientele, including construction, television, and events, has undergone a significant rebranding to Star Power Generator Hire. This collaboration is set to amplify Star Power's operational footprint significantly, leveraging Star Platforms' extensive depot network across the UK to offer unmatched speed and efficiency in meeting the burgeoning demand for temporary power solutions.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Power Rental Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Power Rental Market, highlighting leading vendors and their innovative profiles. These include Aggreko Ltd., Aksa Power Generation Inc., Allmand Bros., Inc. by Briggs & Stratton, Ashtead Group PLC, Atlas Copco AB, Bredenoord, Caterpillar Inc., Cooper Equipment Rentals Ltd., Cummins Inc., Doosan Portable Power, Duthie Power Services, Energy Systems Southeast, LLC, GEN-TECH, Generac Power Systems, Inc., Herc Rentals Inc., Himoinsa S.L. by Yanmar Co., Ltd., Kohler Co., Modern Hiring Service, Newburn Power Rental Ltd., Power Plus, Red-D-Arc Inc. by Air liquide S.A., Reddy Generators, Sun for Rent, Sunbelt Rentals, Inc., and United Rentals, Inc..

Market Segmentation & Coverage

This research report categorizes the Power Rental Market to forecast the revenues and analyze trends in each of the following sub-markets:

Fuel Type
Diesel
Natural Gas
Equipment
Generators
Load Banks
Transformers
Application
Base Load or Continuous Load
Peak Shaving
Standby Power
End-User
Construction
Manufacturing
Mining
Oil & gas
Telecom & Datacenter
Utilities
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year