USD 9.8 billion
Power Rental Systems Market Size, Share, Growth Analysis, By Equipment(Generators, load banks, transformers, and distribution panels), By Application(Emergency/power backup, peak shaving, and base load/standby power), By End user(Utilities, oil & gas, construction, events), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG55E2037 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
93
|Figures:
76
Power Rental Systems Market Insights
Power Rental Systems Market size was valued at USD 9.8 billion in 2022 and is poised to grow from USD 10.35 billion in 2023 to USD 15.15 billion by 2030, at a CAGR of 5.6 % during the forecast period (2023-2030).
The global power rental systems market has witnessed significant growth in recent years, driven by the increasing demand for temporary power solutions across various industries and events.
Factors such as frequent power outages, growing construction and infrastructure projects, and the need for backup power during emergencies have boosted the adoption of power rental systems.
Additionally, the trend towards sustainable power solutions has led to the integration of renewable energy sources into rental systems. However, challenges such as stringent emission regulations and high initial costs hinder market growth.
Nonetheless, advancements in technology and the expanding industrial sector present promising opportunities for the power rental systems market's future expansion.
US Power Rental Systems Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
oil & gas
Fastest Growth
oil & gas
Growth Rate
5.6% CAGR
Global power rental systems market by region
Country Share for North America (%)
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Power Rental Systems Market Segmental Analysis
The global power rental systems market is segmented by equipment, application, end-user, and region. Equipment segments include generators, load banks, transformers, and distribution panels. Application segments cover emergency/power backup, peak shaving, and base load/standby power. The end-user segments involve utilities, oil & gas, construction, events, and others. Geographically, the market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Power Rental Systems Market Analysis By Equipment
Among the sectors, the largest and fastest-growing is the construction industry, as infrastructure development projects surge globally, creating a strong demand for power rental equipment to support temporary power needs during construction activities. The construction sector's rapid growth, along with its inclination towards utilizing energy-efficient and environmentally friendly power solutions, has contributed significantly to the power rental systems market's overall expansion and is expected to continue its trajectory in the foreseeable future.
Power Rental Systems Market Analysis By Application
The analysis reveals that the construction sector represents the largest application for power rental systems due to the continuous need for reliable power sources on remote job sites. Moreover, the construction industry's growth, particularly in developing regions, has been a significant driving force for the increasing demand in this sector. On the other hand, the fastest-growing sector for power rental systems is the events industry. With the rise in large-scale events, festivals, and outdoor gatherings, the need for temporary power solutions has surged. Event organizers seek reliable power rental services to ensure seamless operations and enhance attendee experiences.
Global power rental systems market by end-user
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Power Rental Systems Market Regional Insights
The global power rental systems showed diverse regional trends. In North America, the market experienced steady growth due to an increased focus on disaster preparedness and infrastructure projects. Europe saw significant demand driven by expanding construction and events industries. The Asia-Pacific region witnessed rapid adoption, propelled by industrial development and frequent power outages. Latin America showed steady progress as emerging economies invested in infrastructure. In the Middle East and Africa, demand surged due to construction projects and the need for temporary power solutions. Overall, the global power rental systems market displayed promising opportunities across different regions.
Global power rental systems market by geography
- Largest
- Fastest
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Power Rental Systems Market Dynamics
Power Rental Systems Market Drivers
Demand for Rapid Solutions
- One driver behind the growing popularity of global power rental systems is the increasing demand for temporary and scalable power solutions. In various industries such as construction, events, disaster relief, and remote locations, there is a need for reliable and flexible power sources without the substantial upfront investment of purchasing permanent infrastructure. Power rental systems offer the advantage of rapid deployment, customization to specific power requirements, and the ability to adapt to changing energy needs.
Power Rental Systems Market Restraints
Fossil Fuel Dependency to Hinder Market Growth
- A significant restraint for global power rental systems is the dependency on fossil fuels. While diesel and gas generators dominate the power rental market due to their efficiency and portability, they contribute to greenhouse gas emissions and environmental concerns. To mitigate this restraint, the industry is gradually shifting towards renewable energy-based power rental solutions, such as solar and wind-powered generators, to reduce the ecological impact. Balancing the demand for immediate power needs with sustainable practices remains a crucial challenge for the continued growth and adoption of global power rental systems.
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Power Rental Systems Market Competitive Landscape
The global power rental systems market displayed intense competition among key players. Established companies like Aggreko, United Rentals, Caterpillar, and Atlas Copco dominated the market, offering a wide range of rental solutions for temporary power needs across various industries and regions. These industry giants showcased strong brand presence, extensive product portfolios, and a global network of service centers, granting them a competitive advantage. However, emerging players focused on innovative technologies, sustainable power solutions, and flexible rental options sought to challenge the market's status quo, driving further competitiveness in the sector.
Power Rental Systems Market Top Player’s Company Profiles
- Caterpillar Inc. (Cat Rental Power) - United States
- Herc Holdings Inc. (Herc Rentals) - United States
- Ashtead Group (Sunbelt Rentals) - United Kingdom
- Cummins Inc. - United States
- Altaaqa Global - United Arab Emirates
- Rental Solutions & Services (RSS) - United Arab Emirates
- HSS Hire Group - United Kingdom
- Generac Power Systems - United States
- Wacker Neuson Group - Germany
- Bredenoord - Netherlands
- Kohler Co. (Kohler Power) - United States
- The Hertz Corporation (Hertz Equipment Rental Corporation) - United States
- Atlas Copco - Sweden
- Sudhir Power - India
- Speedy Hire - United Kingdom
- A-Plant - United Kingdom
- Sunbelt Rentals (A-Plant) - United States
Power Rental Systems Market Recent Developments
- In June 2021, the Aggreko Plc depot in Moerdijk, Netherlands, will trial the first hydrogen power generation units for use in short-term power application.
Power Rental Systems Key Market Trends
- The key market trends in the global power rental systems industry included a growing demand for temporary power solutions across various sectors, such as construction, events, and disaster recovery, due to increasing frequency of extreme weather events and infrastructure development. The market was witnessing a shift towards cleaner and more sustainable power sources, with a rising adoption of renewable energy-based rental systems. Additionally, advancements in technology and remote monitoring capabilities were enabling improved efficiency and reliability of power rental services, further driving the market's growth and innovation.
Power Rental Systems Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the future prospects for global power rental systems appear highly promising, driven by several key factors. As the world continues to face unpredictable weather patterns and natural disasters, the demand for temporary and reliable power solutions in affected regions will increase. Furthermore, the ongoing shift towards renewable energy sources and the integration of decentralized power generation will require flexible backup systems during intermittent periods or emergencies. The growing construction and infrastructure development projects worldwide will also contribute to the need for portable power solutions. Additionally, the rapid expansion of events and entertainment industries, coupled with the rising number of remote worksites and data centers, will fuel the demand for temporary power supply services. Technological advancements in power storage, distribution, and fuel efficiency will further enhance the competitiveness and sustainability of power rental systems, making them an indispensable component of the future energy landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 9.8 billion |
| Market size value in 2031 | USD 15.15 billion |
| Growth Rate | 5.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Power Rental Systems Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Power Rental Systems Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Power Rental Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Power Rental Systems Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Power Rental Systems Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Power Rental Systems Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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