Power Rental Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2024

The Global Power Rental Market was valued at USD 17.80 billion in 2024 and is projected to grow at a CAGR of 4.1% between 2025- 2034. The market is driven by increasing industrial activities, rising demand for temporary power solutions, and the widespread adoption of advanced rental generators. Key factors contributing to market expansion include the growing reliance on power rental services across industries, stringent environmental regulations, and the need for reliable energy supply during peak demand or emergency situations.

The 75 kVA – 375 kVA power rating segment is expected to generate USD 8.26 billion by 2034. This range of power generators is widely used across various industries, including construction, manufacturing, and events, providing reliable and efficient temporary power solutions. These generators are particularly effective for medium-scale operations, offering a balanced power output to meet both short-term and long-term needs. The market growth is also driven by the demand from medium-sized industries, infrastructure projects, and commercial operations that require flexible, cost-effective, and scalable power solutions. As the construction sector in North America continues to grow, particularly with new infrastructure projects and urban developments, the need for rental power solutions in this power rating range will continue to rise.

Diesel segment held 3.8% CAGR during 2025-2034. Diesel generators are favored due to their efficiency, reliability, and ability to operate in various harsh conditions, particularly in remote areas and during emergencies. Diesel-powered rental units are essential in applications that require continuous power generation for construction sites, industrial operations, and emergency backup power. Its reliability in providing consistent power under challenging conditions, along with advancements in fuel efficiency and emissions control, ensures the sustained demand for diesel-powered rental solutions. Additionally, the relatively lower upfront costs and availability of diesel fuel across North America make these generators a popular choice for various industries.

The oil & gas segment generated USD 2.87 billion in 2024. Power rental solutions, especially in offshore rigs, oil exploration sites, and production facilities, are vital for ensuring continuous operations in remote or offshore locations where the supply of grid power is limited or unavailable. Diesel generators, particularly in the 75 kVA – 375 kVA power rating range, are widely used in the oil and gas sector due to their reliability, fuel efficiency, and robustness. The increasing demand for temporary power during drilling operations, maintenance periods, and emergency scenarios will continue to fuel the demand for rental generators in the oil and gas industry.

North American Power Rental Market generated USD 4.66 billion in 2024. The market is fueled due to its well-developed industrial base, increasing infrastructure investments, and growing demand for temporary power solutions. The U.S. and Canada are leading the adoption of rental power services, supported by their robust energy sectors, particularly in oil and gas, construction, and utilities. The market is driven by the large-scale industrial activities, high number of infrastructure development projects, and the increasing need for energy backup solutions during peak demand periods. Canada, with its significant mining operations and development of new infrastructure projects, is also expected to see steady growth in demand for power rental services, particularly in remote areas where reliable grid power supply is lacking.