Gas Fueled Power Rental Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Gas Fueled Power Rental Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Global gas-fueled power rental market was valued at USD 4 billion in 2023, with projections indicating a CAGR of 5% from 2024 to 2032. The industry growth will be shaped by stringent environmental regulations pushing for cleaner energy adoption and the integration of renewable sources into these systems.

Robust growth is anticipated in the industry, driven by lower noise levels, reduced emissions, and adherence to strict air quality standards. The rising demand for gas-fueled power rentals is fueled by increasing entertainment activities, such as concerts and festivals, and the need for emergency power during natural disasters. Furthermore, the continuous expansion of commercial and industrial facilities, coupled with the refurbishment of the existing power grid infrastructure, bodes well for the industry outlook.

The overall industry is segmented into power rating, end use, application and region.

The gas-fueled power rental segment, specifically the > 75 kVA - 375 kVA rated units, is projected to exceed USD 1 billion by 2032. The demand for these units is set to rise, driven by an uptick in weather-related events like cyclones and thunderstorms and a growing reliance on dependable power systems for daily operations. Moreover, ongoing technological advancements, particularly in reducing noise levels and enhancing operational quietness, will further boost the industry prospects.

From 2024 to 2032, the standby gas-fueled power rental market is expected to grow at a rate of about 4.5%. This growth is attributed to the rapid expansion of critical infrastructures, such as hospitals, data centers, and manufacturing facilities. The aging power grids, coupled with an increased need for standby generators to ensure uninterrupted power during outages, will drive business growth. Additionally, heightened environmental awareness, stricter emissions regulations, and the incorporation of advanced control, remote monitoring, and automation systems will further bolster industry dynamics.

By 2032, the North America gas-fueled power rental market is projected to surpass USD 1.5 billion. The ongoing surge in construction projects in urban centers, driven by demand at construction sites, tools, and temporary offices, will invigorate the industry outlook. Furthermore, the growing integration of smart technologies, such as remote monitoring and performance optimization for fuel efficiency, will positively impact industry growth.