Worldwide Power Rental Markets to 2025 - Global Market Driven by the Rising Demand for Uninterrupted Power Supply along with Rapid Industrialization Across the Globe
The global power rental market size reached US$ 15.2 Billion in 2019. Looking forward, the market is expected to reach a value of US$ 24.9 Billion by 2025, registering a CAGR of 8.6% during 2020-2025.
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 Highlights
Diesel currently is the most popular fuel type across the globe, owing to its higher energy density as compared to natural gas.
The 501-2,500 kW power rating segment dominates the market.
At present, base load/continuous power represents the leading application segment.
The utility industry accounts for the majority of the market share.
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, Wrtsil Oyj Abp, Speedy Hire Plc, Smart Energy Solutions (SES), and SoEnergy International, Inc.
Key Questions Answered in This Report
How has the global power rental market performed so far and how will it perform in the coming years?
What are the key regional markets in the industry?
What is the breakup of the market based on the fuel type?
What is the breakup of the market based on the equipment type?
What is the breakup of the market based on the power rating?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the global power rental industry?
What are the key driving factors and challenges in the global power rental industry?
What is the structure of the global power rental industry and who are the key players?
What is the degree of competition in the global power rental industry?
Key Topics Covered
1 Preface
2 Scope and 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 5.2 Market Performance 5.3 Market Breakup by Fuel Type 5.4 Market Breakup by Equipment Type 5.5 Market Breakup by Power Rating 5.6 Market Breakup by Application 5.7 Market Breakup by End-use Industry 5.8 Market Breakup by Region 5.9 Market Forecast
6 Market Breakup by Fuel Type 6.1 Diesel 6.2 Natural Gas 6.3 Others
7 Market Breakup by Equipment Type 7.1 Generator 7.2 Transformer 7.3 Load Bank 7.4 Others
8 Market Breakup by Power Rating 8.1 Up to 50 kW 8.2 51 -500 kW 8.3 501 -2,500 kW 8.4 Above 2,500 kW
9 Market Breakup by Application 9.1 Peak Shaving 9.2 Standby Power 9.3 Base Load/Continuous Power
10 Market Breakup by End Use Industry 10.1 Utilities 10.2 Oil & Gas 10.3 Events 10.4 Construction 10.5 Mining 10.6 Data Centers 10.7 Others
11 Market Breakup by Region 11.1 North America 11.2 Europe 11.3 Asia Pacific 11.4 Latin America 11.5 Middle East and Africa
14 Porter's Five Forces Analysis 14.1 Overview 14.2 Bargaining Power of Buyers 14.3 Bargaining Power of Suppliers 14.4 Degree of Competition 14.5 Threat of New Entrants 14.6 Threat of Substitutes
15 PESTEL Analysis 15.1 Political 15.2 Economic 15.3 Social 15.4 Technological 15.5 Environmental 15.6 Legal
16 Competitive Landscape 16.1 Market Structure 16.2 Product Benchmarking 16.3 Key Players 16.4 Merger & Acquisitions 16.5 Profiles of Key Players 16.5.1 Aggreko 16.5.2 Caterpillar 16.5.3 Benchmarking 16.5.4 Atlas Copco 16.5.5 Cummins 16.5.6 United Rentals 16.5.7 HIMOINSA 16.5.8 Horizon Acquisition 16.5.9 The Hertz Corporation 16.5.10 Generac Power Systems 16.5.11 Wacker Neuson 16.5.12 Wrtsil 16.5.13 Speedy Hire 16.5.14 Smart Energy Solutions 16.5.15 SoEnergy International