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Power Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Publisher IMARC Services Pvt. Ltd.
Published Jul 05, 2023
Length 143 Pages
SKU # IMRC18054508

Description

Power Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


Market Overview 2023-2028:

The global power rental market size reached US$ 19.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.74% during 2023-2028.

Power rental refers to the facility of temporarily renting power plants or generators for supplying energy to industrial units. It delivers functioning power equipment along with various scalable components, which are installed in power stations. It also offers reliability, flexibility, speed and cost-effectiveness to businesses for coping with brief shortages of power. The power rental services are aimed to stabilize utility power grids and provide additional energy to industries and support communities. Owing to this, it finds extensive application across the construction, mining, and oil & gas industries.

Global Power Rental Market Trends:
The rising demand for uninterrupted power supply along with rapid industrialization across the globe are the key factors driving the market growth. The increasing instances of unreliable power supply generated through small-scale power grids and limited access to the main transmission network has catalysed the demand for rental generators across the utility and manufacturing industries. Furthermore, there is a growing requirement for scalable rental equipment that can overcome the problems associated with voltage sags & swells, and power outages. Additionally, rising awareness regarding the benefits of outsourcing power equipment is also impacting the market positively. Power rental systems enables consumers to obtain equipment according to their requirements in a cost-effective manner. Moreover, the implementation of favourable government initiatives to expand metro and airport networks, along with the construction of hotels and shopping malls, are further increasing the demand for power rental across both the developed and emerging nations. Other factors, including the adoption of natural gas-based power generators and the increasing deployment of renewables as an alternative power source to reduce carbon emissions, are projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global power rental market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on equipment type, fuel type, power rating, application and end use industry.

Breakup by Equipment Type:

Generator
Transformer
Load Bank
Others


Breakup by Fuel Type:

Diesel
Natural Gas
Others

Diesel currently is the most popular fuel type across the globe, owing to its higher energy density as compared to natural gas.

Breakup by Power Rating:

Up to 50 kW
51 –500 kW
501 –2,500 kW
Above 2,500 kW

The 51 –500 kW power rating segment dominates the market.

Breakup by Application:

Peak Shaving
Standby Power
Base Load/Continuous Power

At present, base load/continuous power represents the leading application segment.

Breakup by End Use Industry:

Utilities
Oil & Gas
Events
Construction
Mining
Data Centers
Others

The Utilities industry accounts for the majority of the market share.

Regional Insights:

North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Italy
Others
Asia Pacific
China
Japan
South Korea
India
Australia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Saudi Arabia
United Arab Emirates
South Africa
Others

North America exhibits a clear dominance in the market, holding the largest market share.

Competitive Landscape:
The report has also analyzed the competitive landscape of the market, with some of the key players being Aggreko Plc, Caterpillar, Inc., Atlas Copco Group, Cummins, Inc., United Rentals, Inc., HIMOINSA S.L., Horizon Acquisition (Horizon Power Systems), The Hertz Corporation, Generac Power Systems, Wacker Neuson SE, Wärtsilä Oyj Abp, Speedy Hire Plc, Smart Energy Solutions (SES), and SoEnergy International, Inc.

Key Questions Answered in This Report

1. What was the size of the global power rental market in 2022?
2. What is the expected growth rate of the global power rental market during 2023-2028?
3. What has been the impact of COVID-19 on the global power rental market?
4. What are the key factors driving the global power rental market?
5. What is the breakup of the global power rental market based on the equipment type?
6. What is the breakup of the global power rental market based on the fuel type?
7. What is the breakup of the global power rental market based on the power rating?
8. What is the breakup of the global power rental market based on the application?
9. What is the breakup of the global power rental market based on the end use industry?
10. What are the key regions in the global power rental market?
11. Who are the key players/companies in the global power rental market?

Table of Contents

143 Pages
1 Preface
2 Scope and Methodology
2.1Objectives of the Study
2.2Stakeholders
2.3Data Sources
2.3.1Primary Sources
2.3.2Secondary Sources
2.4Market Estimation
2.4.1Bottom-Up Approach
2.4.2Top-Down Approach
2.5Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Power Rental Systems Overview
4.2 Industry Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
5 Global Power Rental Market
5.1 Market Overview
5.2Market Performance
5.3Impact of COVID-19
5.4Market Breakup by Fuel Type
5.5Market Breakup by Equipment Type
5.6Market Breakup by Power Rating
5.7Market Breakup by Application
5.8Market Breakup by End-Use Industry
5.9Market Breakup by Region
5.10Market Forecast
6 Market Breakup by Fuel Type
6.1Diesel
6.1.1Market Trends
6.1.2Market Forecast
6.2Natural Gas
6.2.1Market Trends
6.2.2Market Forecast
6.3Others
6.3.1Market Trends
6.3.2Market Forecast
7 Market Breakup by Equipment Type
7.1Generator
7.1.1Market Trends
7.1.2Market Forecast
7.2Transformer
7.2.1Market Trends
7.2.2Market Forecast
7.3Load Bank
7.3.1Market Trends
7.3.2Market Forecast
7.4Others
7.4.1Market Trends
7.4.2Market Forecast
8 Market Breakup by Power Rating
8.1Up to 50 kW
8.1.1Market Trends
8.1.2Market Forecast
8.251 –500 kW
8.2.1Market Trends
8.2.2Market Forecast
8.3501 –2,500 kW
8.3.1Market Trends
8.3.2Market Forecast
8.4Above 2,500 kW
8.4.1Market Trends
8.4.2Market Forecast
9 Market Breakup by Application
9.1Peak Shaving
9.1.1Market Trends
9.1.2Market Forecast
9.2Standby Power
9.2.1Market Trends
9.2.2Market Forecast
9.3Base Load/Continuous Power
9.3.1Market Trends
9.3.2Market Forecast
10 Market Breakup by End Use Industry
10.1Utilities
10.1.1Market Trends
10.1.2Market Forecast
10.2Oil & Gas
10.2.1Market Trends
10.2.2Market Forecast
10.3Events
10.3.1Market Trends
10.3.2Market Forecast
10.4Construction
10.4.1Market Trends
10.4.2Market Forecast
10.5Mining
10.5.1Market Trends
10.5.2Market Forecast
10.6 Data Centers
10.6.1Market Trends
10.6.2Market Forecast
10.7Others
10.7.1Market Trends
10.7.2Market Forecast
11 Market Breakup by Region
11.1North America
11.1.1 Market Trends
11.1.2 United States
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.1.3 Canada
11.1.3.1 Market Trends
11.1.3.2 Market Forecast
11.1.4 Market Forecast
11.1.5 Key Manufacturers in North America
11.2Europe
11.2.1 Market Trends
11.2.2 Germany
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 United Kingdom
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 France
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Russia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Italy
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.2.8 Market Forecast
11.2.9 Key Manufacturers in Europe
11.3Asia Pacific
11.3.1Market Trends
11.3.2China
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3Japan
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4South Korea
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5India
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6Australia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.3.8 Market Forecast
11.3.9 Key Manufacturers in Asia Pacific
11.4Latin America
11.4.1Market Trends
11.4.2Brazil
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3Mexico
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.4.4Others
11.4.4.1 Market Trends
11.4.4.2 Market Forecast
11.4.5 Market Forecast
11.4.6 Key Manufacturers in Latin America
11.5 Middle East and Africa
11.5.1Market Trends
11.5.2Saudi Arabia
11.5.2.1 Market Trends
11.5.2.2 Market Forecast
11.5.3United Arab Emirates
11.5.3.1 Market Trends
11.5.3.2 Market Forecast
11.5.4South Africa
11.5.4.1 Market Trends
11.5.4.2 Market Forecast
11.5.5Others
11.5.5.1 Market Trends
11.5.5.2 Market Forecast
11.5.6 Market Forecast
11.5.7 Key Manufacturers in Middle East & Africa
12 SWOT Analysis
12.1Overview
12.2Strengths
12.3Weaknesses
12.4Opportunities
12.5Threats
13 Value Chain Analysis
14 Porter’s Five Forces Analysis
14.1Overview
14.2Bargaining Power of Buyers
14.3Bargaining Power of Suppliers
14.4Degree of Competition
14.5Threat of New Entrants
14.6Threat of Substitutes
15 PESTEL Analysis
15.1Political
15.2Economic
15.3Social
15.4Technological
15.5Environmental
15.6Legal
16 Competitive Landscape
16.1Market Structure
16.2Product Benchmarking
16.3Key Players
16.4Merger & Acquisitions
16.5Profiles of Key Players
16.5.1Aggreko Plc
16.5.2Caterpillar, Inc.
16.5.3Atlas Copco Group
16.5.4Cummins, Inc.
16.5.5United Rentals, Inc.
16.5.6HIMOINSA S.L.
16.5.7Horizon Acquisition (Horizon Power Systems)
16.5.8The Hertz Corporation
16.5.9Generac Power Systems
16.5.10 Wacker Neuson SE
16.5.11 Wärtsilä Oyj Abp
16.5.12 Speedy Hire Plc
16.5.13 Smart Energy Solutions (SES)
16.5.14 SoEnergy International, Inc.

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