Power Rental Market (By Fuel: Diesel and Natural Gas; By Application Type: Continuous Load, Standby Load, Peak Load; By End User: Mining, Construction, Utility, Events, Manufacturing, Oil & Gas, Others)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The global power rental market gathered revenue around USD 9.29 billion in 2021 and market is set to grow USD 26.02 billion by the end of 2030 and is estimated to expand at a modest CAGR of 12.1% during the prediction period 2022 to 2030.

Growth Factors:

The power rental is a renting of generator, whether they operate on diesel or gas. It provides fully functional power equipment as well as a variety of components for use in power plants. Furthermore, it provides organizations with flexibility, speed, and cost-effectiveness while dealing with power outages. The purpose of rental power services is to help stabilize utility power networks while also providing additional energy to industry and communities. As a result, it has a wide range of applications in the mining, building and construction, oil and gas industries.

In the event of a power outage, the use of power leasing equipment is predicted to expand, propelling the global power rental market growth. During periods of power outage, power rental systems meet the needs of a wide range of industries by providing backup power to keep operations running. The factors fueling the demand for continuous power supply in the gas and oil and mining industries, as well as the growing need for electrification and rural power delivery. The grid stabilization is required due to ageing electricity infrastructure.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Power rental market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Power rental market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

Report Scope Details
Market Size USD  26.02 billion by 2030
Growth Rate CAGR of 12.1% From 2022 to 2030
Base Year 2021
Forecast Period 2022 to 2030
Report coverage Growth Factors, Revenue Status, Competitive Landscape,  and Future Trends
Segments Covered Fuel, Application, End Use, Region
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned  Pump Power Rental, Global Power Supply, Jassim Transport & Stevedoring Co. K.S.C.C., Newburn Power Rental Ltd., ProPower Rental, Shenton Group, Modern Hiring Service, United Rentals, FG Wilson, APR Energy. 

Power rental Market Dynamics

Driver:

Mining and oil & gas exploration operations usually take place in remote locations. Human life at such locations is under constant threat due to the highly inflammable nature of the extracted products; thus, proper illumination and power are key requisites such operations. Driven by increasing investments, the mining and oil & gas industries in the US, Australia, and many African countries are likely to witness noteworthy growth. New mining projects are anticipated to be launched in China, Australia, and India in the coming years. The factors mentioned above are imperative to propel the demand for power rental solutions.

Restraint:

North America, Europe, and Asia Pacific regions have formulated several strict regulations to limit carbon emissions from power generation operations. Such regulations also specify the permissible diesel generator noise levels to reduce noise pollution caused by diesel genset operations. Different countries have their own set of regulations and policies. For instance, the European Union has set a target of reducing carbon emission and related pollution by 20.9% by 2030. Several power rental companies provide multiple pollution control measures such as silencers, solid foundation, and rubber in shear mounts, canopies, and flexible elbows to reduce the noise level, which, in turn, raises the overall cost of generator sets.

Opportunity:

As power rental requirements become increasingly complex, sophisticated control systems are required to integrate a variety of equipment to ensure stable, efficient, and reliable operations. Digitalization also transforms the way energy is consumed and enables greater control over its consumption. In addition to that, digitalization enables instant feedback, which aids predictive maintenance. It can help increase the efficiency of temporary power systems to meet customer expectations and demands. Companies are looking to invest more in digital technologies with the aim of lowering costs and offering more tailored services to customers, thus creating an opportunity for power rental service providers.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Power rental market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Some of the prominent players in the Power rental Market include:

  • Pump Power Rental
  • Global Power Supply
  • Jassim Transport & Stevedoring Co. K.S.C.C.
  • Newburn Power Rental Ltd.
  • ProPower Rental
  • Shenton Group
  • Modern Hiring Service
  • United Rentals
  • FG Wilson
  • APR Energy

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

By Fuel

  • Diesel
  • Natural Gas

By Application

  • Continuous Load
  • Standby Load
  • Peak Load

By End User

  • Mining
  • Construction
  • Utility
  • Events
  • Manufacturing
  • Oil & Gas
  • Others

By Geography

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • United Kingdom
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Power rental market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Power rental market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Power rental markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

  • Governmental bodies, and organizations creating economic policies
  • National and international social welfare institutions
  • Company websites, financial reports and SEC filings, broker and investor reports
  • Related patent and regulatory databases
  • Statistical databases and market reports
  • Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

  • Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
  • In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

  • CEOs, VPs, market intelligence managers
  • Procuring and national sales managers technical personnel, distributors and resellers
  • Research analysts and key opinion leaders from various domains

Key Points Covered in Power rental Market Study:

  • Growth of Power rental in 2022
  • Market Estimates and Forecasts (2017-2030)
  •  Brand Share and Market Share Analysis
  •  Key Drivers and Restraints Shaping Market Growth
  •  Segment-wise, Country-wise, and Region-wise Analysis
  •  Competition Mapping and Benchmarking
  •  Recommendation on Key Winning Strategies
  •  COVID-19 Impact on Demand for Power rental and How to Navigate
  •  Key Product Innovations and Regulatory Climate
  •  Power rental Consumption Analysis
  •  Power rental Production Analysis
  •  Power rental and Management