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Power Rental Market to Reach USD 15.9 Billion by 2031 Driven by Growing Demand for Reliable Power in Emerging Economies

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The global power rental market is experiencing significant growth, driven by the increasing demand for reliable and readily available power in emerging economies. These economies are undergoing rapid urbanization, industrialization, and infrastructure development, leading to a Increase in electricity needs. The many lack the necessary generation capacity and stable power infrastructure, creating a gap between supply and demand that power rental solutions can effectively address.

The SNS Insider report forecasts the Power Rental Market Size to reach USD 15.9 Billion by 2031, growing at a CAGR of 5.32% over the forecast period. This growth is driven by several factors such as, Fluctuations in energy sources and disruptions to the grid are prompting businesses to explore alternative power options, fuelling innovation in the power rental market. Power rental companies offer versatile generator fleets that can be scaled to meet specific power needs, ensuring flexibility for customers. The increasing focus on sustainability is driving demand for power rental solutions that incorporate renewable fuels.

Download Free Sample Report of Power Rental Market @ https://www.snsinsider.com/sample-request/1243

Top Companies Featured in Power Rental Market Report:

– Herc Rentals Inc.
– Caterpillar
– Cummins Inc.
– Aggreko
– APR Energy
– United Rentals Inc.
– Ashtead Group plc
– Al Faris
– Kohler Co.
– Bredenoord
– Altaaqa Global
– Atlas Copco AB
– Hertz System Inc.
– HIMOINSA

The power rental market is a complex ecosystem with various forces shaping its trajectory. Rapid urbanization and industrialization in developing economies are creating a substantial demand for temporary and supplementary power solutions. Power rental bridges the gap between limited power generation capacity and growing electricity needs. Environmental concerns are pushing the industry towards cleaner power sources. Power rental companies are increasingly offering generators that run on biofuels or natural gas, reducing reliance on traditional diesel generators. Rising fuel costs can affect rental rates, potentially impacting demand from price-sensitive customers. Additionally, higher fuel prices can squeeze profit margins for rental companies, limiting their ability to invest in new technologies and fleet upgrades.

Recent Developments

  • December 2022, United Rentals acquires Ahern Rentals, expanding its reach and customer base in the construction and industrial sectors.
  • February 2023, Caterpillar Inc. launches the Cat® XQ330, a new diesel generator set that meets stringent emission standards.
  • January 2024, Aggreko acquires RenEnergy Group, a leader in solar and energy storage solutions, signaling a potential shift towards more sustainable power rental options.
  • October 2023, Shenton Group bolsters its rental fleet with high-capacity generators to cater to the growing demand across various sectors.

Power Rental Industry Segmentation as Follows:

By Fuel Type

  • Diesel
  • Natural gas
  • Other Fuel Type

by Fuel Type, Diesel generators currently lead the market due to factors such as readily available and affordable diesel fuel, particularly in regions with weak infrastructure for alternative fuels. The stricter environmental regulations in developed economies might hamper the growth of this segment. Gas generators offer a cleaner alternative, and their market share is expected to rise gradually.

By End User

  • Utilities
  • Manufacturing
  • Construction
  • Oil & gas
  • Mining & metals
  • IT & Data centers
  • Corporate & Retail
  • Events
  • Others

by End-User, Utilities are the largest consumers of power rental solutions. They require temporary power for maintenance activities, grid upgrades, peak demand periods, and emergency response. Power rental offers a flexible and cost-effective way to ensure uninterrupted service and grid stability.

By Equipment

  • Generators
  • Transformers
  • Load Banks
  • Other Equipment

By Application

  • Peak Shaving
  • Standby Power
  • Base load/continuous power

Ask Your Query Before Buying this Research Report @ https://www.snsinsider.com/enquiry/1243

Geopolitical and Economic Uncertainties

The Russia-Ukraine war has disrupted global energy supplies and Result to price fluctuations. This can impact fuel costs for power rental companies, potentially affecting their operating margins and rental rates. an economic slowdown could Reduce demand for power rental services, especially in sectors sensitive to economic fluctuations.

Regional Dynamics

North America is the current leader in the power rental market, driven by its mature economy, extensive industrial base, and well-developed infrastructure. The Asia-Pacific region is expected to witness the fastest growth due to factors such as rapid industrialization, infrastructure development, and expanding construction and telecommunication sectors. China and India are expected to be the key growth markets within the region.

Power Rental Market Size
Power Rental Market Size and Growth Report

Key Takeaways

  • The power rental market is projected to experience steady growth, driven by the increasing demand for reliable power in emerging economies.
  • Factors such as energy unpredictability, adaptable generator fleets, and the growing demand for renewables are shaping the market landscape.
  • Rising fuel costs and potential economic slowdowns creates challenges to the industry.
  • Rapid development in these regions creates a demand for temporary power solutions that power rental bridges effectively.
  • The industry is shifting towards cleaner options such as biofuels and natural gas generators to meet environmental concerns.
  • North America is the current leader, but Asia-Pacific is expected to see significant growth due to its booming industries and infrastructure projects.

Table of Content – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Power Rental Market Segmentation, By Fuel Type
9. Power Rental Market Segmentation, By Equipment
10. Power Rental Market Segmentation, By Application
11. Power Rental Market Segmentation, By End-User
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion

Continued….

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About Us:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.

Contact Us:

Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

Phone: +1-415-230-0044 (US)

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