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Rental Gensets Industry, Global, 2024–2034

Publisher Frost & Sullivan
Published Aug 06, 2025
SKU # MC20295396

Description

The global rental genset market is experiencing steady growth, valued at $6.61 billion in 2024 and expected to exceed $11 billion by 2034. This growth is driven by the increasing demand for temporary and backup power across sectors such as construction, mining, oil & gas, utilities, and events. Diesel Gensets still make up about 70 to 80% of rental units due to their reliability and fuel availability, but environmental regulations are pushing rental providers towards cleaner alternatives like natural gas and hybrid systems, particularly in developed regions. North America leads the market in revenue, primarily due to its disaster recovery and infrastructure needs. Meanwhile, the ASEAN region is experiencing the fastest growth.

Additionally, the market is witnessing advancements in technology, particularly through the adoption of telematics and remote monitoring. These innovations enable better tracking of usage and maintenance.
The market has moderate to highly competitive intensity, influenced by both global original equipment manufacturers (OEMs) and regional specialists such as Aggreko, United Rentals, Cummins, Caterpillar, and Atlas Copco. These companies compete based on factors like reliability, fleet size, service responsiveness, and environmental performance. While developing regions tend to be fragmented with more affordable diesel units, developed markets are increasingly focusing on cleaner technologies, such as gas and hybrid systems.

Despite challenges such as tightening emission regulations and rising fuel prices, the long-term outlook remains positive. Rental companies are diversifying their fleets and expanding their hybrid offerings, positioning rental Gensets as essential components of resilient energy strategies worldwide.

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