North America Power Rental Market
North America Power Rental Market by Equipment (Generators, Transformers, Load Banks, Other Equipment), Power Rating (Up to 50 KW, 51–500 KW, 501–2,500 KW, Above 2,500 KW), Application, Fuel Type, Rental Type, and End User - Trends & Forecast To 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The North America power rental market is projected to reach USD 4.69 billion by 2030 from an estimated USD 3.63 billion in 2025, at a CAGR of 5.3% during the forecast period (2025–2030). The power rental market in North America is growing steadily, due to the increasing demand for reliable and continuous power supply across industries. Frequent power outage, aging electrical infrastructure, and use renewable energy sources have propelled the need for power rental.
KEY TAKEAWAYS
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BY REGIONThe US is likely to hold the largest share of the North America power rental market, accounting for a 82.3% share in 2025.
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BY FUEL TYPEBy fuel type, the gas segment is projected to grow at the fastest rate from 2025 to 2030.
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BY EQUIPMENTThe generator segment expected to dominate the market during the forecast period.
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BY POWER RATINGBy power rating, the 501-2,500 KW segment is estimated to register the highest CAGR of 6.0% during the forecast period.
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BY APPLICATIONBy application, the peak shavin segment is estimated to register the highest CAGR of 8.0% during the forecast period.
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BY END USERBy end user, the utilities segment is expected to dominate the market.
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BY RENTAL TYPEBy rental type, project rental n segment is expected to be the fastest segment during the forecast period
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COMPETITIVE LANDSCAPECompanies such as Aggreco (UK), United Rentals, Inc. (US), Herc Rentals Inc. (US), and Generac Power Systems, Inc. (US) were identified as some of the star players in North America power rental market.
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COMPETITIVE LANDSCAPEGenerator Power systems, Inc. (US) and JC Davis Power (US) have distinguished themselves among SMEs and startups due to their strong product portfolio and sound business strategy.
The North America power rental market is witnessing steady growth, owing to the increasing demand for reliable and flexible power solutions across industrial and commercial sectors. Frequent fluctuations in energy supply and the rising need for temporary or backup power prompt businesses to adopt rental solutions over conventional systems. The adaptability of generator fleets plays a critical role, allowing companies to quickly respond to changing operational needs and project timelines. Additionally, ongoing industrial expansion, rapid infrastructure development, and the growing emphasis on uninterrupted power supply for data centers, manufacturing, and oil & gas operations accelerate the regional market growth. Sustainability goals by integrating renewable and cleaner fuel demand. Overall, the region’s focus on energy resilience, flexible power delivery, and advanced fleet technologies continues to shape the future of the North America power rental market.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
The North America power rental market is estimated to record moderate to high growth during the forecast period. This growth can be attributed to the digitalization of utilities and increased investments in the renewable and clean energy sectors. The growth of big data analytics enables efficient processing, predictive maintenance, and advanced analysis of large datasets, enhancing reliability and efficiency in power grids and increasing investments in the offshore wind farms sector, which are likely to create lucrative opportunities for the market players.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Surging demand for uninterrupted and reliable power supply
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Rapid industrialization in developing economies
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Growing adoption of renewable energy sources and energy storage technologies
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Stringent government regulations associated with generators
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Technological advancements in power rental equipment for operations enhancement
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Integration of power rental generators with renewable energy sources
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Increased operating expenditure of diesel generators due to high fuel prices
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Raw material and component shortage and sudden fluctuation in demand for power rental equipment
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Surging demand for uninterrupted and reliable power supply
Surging demand for uninterrupted and reliable power supply is a key driver for the North America power rental market, as frequent weather-related disruptions, grid congestion, and aging transmission infrastructure increasingly threaten business continuity across the region. Enterprises in sectors such as data centers, healthcare, manufacturing, oil & gas, and construction are prioritizing contingency solutions that can instantly bridge grid failures or planned outages, leading to higher adoption of temporary generators and hybrid rental power systems. At the same time, stricter uptime requirements, especially for mission-critical facilities and remote industrial sites, are pushing companies to complement their permanent installations with flexible rental capacity that can be deployed quickly, scaled with project needs, and financed on an operating-expense basis rather than capex. This combination of reliability concerns, operational risk mitigation, and financial flexibility is steadily reinforcing the role of rental power as an essential buffer against grid instability in North America.
Restraint: Growing adoption of renewable energy sources and energy storage technologies
Growing adoption of renewable energy sources and advanced energy storage technologies is emerging as a structural restraint for the North America power rental market. As utilities, commercial facilities, and large industrial users increasingly invest in grid-connected solar and wind projects paired with battery storage, their dependence on temporary diesel- and gas-fired rental generators for peak-shaving and backup power is gradually declining. In addition, falling levelized costs of renewables and storage, coupled with tax incentives and decarbonization targets, make permanent clean-energy installations more attractive than short-term rental contracts over the life cycle of a project. This shift reduces the frequency and duration of rental deployments and intensifies regulatory and stakeholder pressure on high-emission rental fleets, forcing power rental providers to reconfigure offerings and accept margin pressures in traditionally high-demand segments.
Opportunity: Technological advancements in power rental equipment for operations enhancement
Technological advancements such as IoT-enabled telematics, AI-driven predictive maintenance, and hybrid generator–battery systems are creating a major opportunity for the North America power rental market by significantly enhancing operational efficiency and service quality. Remote monitoring platforms allow rental providers to track fuel consumption, load profiles, and equipment health in real time, enabling proactive fault detection, optimized dispatch, and reduced on-site staffing needs for construction, data centers, utilities, and event customers. At the same time, integration of mobile battery energy storage and smart energy management systems with Tier 4-compliant diesel and gas sets reduces fuel use, emissions, and noise, helping customers meet stringent environmental regulations and corporate sustainability targets while lowering total cost of ownership for temporary power. Providers that aggressively digitize their fleets and offer technology-rich solutions such as hybrid microgrids, remote performance dashboards, and data-backed performance guarantees can differentiate themselves in a competitive market and capture long-term contracts from customers seeking reliable, low-carbon, and intelligently managed rental power solutions.
Challenge: Increased operating expenditure of diesel generators due to high fuel prices
Rising diesel prices have become a significant challenge for the North America power rental market, as they directly inflate the operating expenditure of rental generator fleets and erode customer willingness to commit to long-term contracts. The fuel component often accounts for the largest share of total lifecycle cost for rented gensets, so sustained increases in diesel prices sharply raise per-kWh power costs, compressing margins for rental providers unless tariffs are frequently adjusted. At the same time, price-sensitive users in construction, oil & gas, events, and small industrial sites are increasingly reconsidering diesel-based rental solutions, delaying projects, downsizing rental capacities, or seeking alternatives such as gas, hybrid, or grid-based backup where available. This cost pressure complicates demand forecasting, contract structuring, and fleet optimization for rental companies, and forces them to invest in more fuel-efficient sets, remote monitoring, and hybrid solutions to remain competitive while managing profitability in a volatile fuel-price environment.
NORTH AMERICA POWER RENTAL MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
|---|---|---|
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The NHS Nightingale Hospital in London was the first of seven NHS Nightingale Hospitals set up in the UK in 2020. These temporary large-scale critical care hospitals were set up to provide cover for the projected increase in patients requiring critical treatment. One of the main challenges for the NHS was that of utilities, particularly electricity, with considerable requirements for additional duty and standby power without leaving the hospital at risk during an outage. | Rapid deployment of temporary rental power by MEMS | Supply of 21,850 kVA with generators, cables, and distribution equipment | Enabled the NHS Nightingale Hospital to operate with reliable electricity for critical care without risking outages |
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The old La Parrilla tungsten mine, located in the heart of Extremaduran pastureland, was active for several decades of the twentieth century, positioning Spain as one of the world’s largest producers. The subsequent fall in the price of tungsten caused the mine to close in the mid-1980s. Thirty years later, the price of tungsten began to rise, and W-RESOURCES Plc decided to reactivate this historic mine. However, they needed a stable and guaranteed power source in a remote environment without a connection to the grid. | Stable, long-term and environmentally cost-effective power supply | Enable continuous mining operations at the remote La Parrilla tungsten mine |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The North America power rental ecosystem connects generator manufacturers, component suppliers, and rental power companies with a wide spectrum of end users that depend on temporary or backup electricity. These users include utilities seeking grid support, oil and gas operators in remote fields, mining projects, construction sites, and large commercial or industrial facilities. Data centers, telecom networks, and event organizers also rely on rented power solutions to ensure uninterrupted operations during outages, peak demand, commissioning, or short-term projects.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
NORTH AMERICA POWER RENTAL MARKET, BY FUEL TYPE
The power rental market is categorized based on fuel type into diesel, natural gas, and other fuel types, including gasoline, hybrid, and heavy fuel oil (HFO). Diesel generators dominate the market due to their high reliability, easy availability, and suitability for heavy-duty applications. Natural gas-powered units are gaining popularity as cleaner and more cost-effective alternatives, driven by increasing environmental regulations and the growing availability of gas infrastructure. Other fuel types, such as gasoline, hybrid systems, and HFO-based units, serve specific niche applications where flexibility, mobility, or localized fuel availability are key factors influencing equipment selection.
NORTH AMERICA POWER RENTAL MARKET, BY EQUIPMENT
Based on equipment, the power rental market has been segmented into generators, load banks, transformers, and other equipment (wires, clamps, transfer boxes, and fuel tanks). Power rental solutions offered by most companies consist of a complete end-to-end solution, providing ready-to-use solutions for peak sharing, standby power, and baseload & continuous power applications. These solutions are designed to meet the specific demands of different end-use customers.
NORTH AMERICA POWER RENTAL MARKET, BY POWER RATING
The power rental market, by power rating, has been segmented into up to 50 kW, 51–500 kW, 501–2,500 kW, and above 2,500 kW. Diesel- and natural gas-fired power rental solutions make up for the largest share of the market. There are several sectors, such as mining, oil & gas, and construction, where power rental solutions of different capacities are used, depending on the type/nature of the job.
NORTH AMERICA POWER RENTAL MARKET, BY APPLICATION
The power rental market, by application, has been segmented into peak shaving, base load/continuous power, and standby power. Rental generators can sometimes be used during peak hours to accommodate the extra demand, ensuring grid stability. Since these generators share the peak load, the application is called peak shaving. Further, power rental units that are used to meet the base load/continuous power requirements within different industries are essentially termed base load/continuous power generators. These generators and related equipment are primarily used during mining operations at remote places where supply from the grid is unavailable. Standby load generators find applications during contingencies or planned outages by utilities or during emergencies where critical operations such as telecom and data centers require backup power.
NORTH AMERICA POWER RENTAL MARKET, BY END USER
Based on end user, the North America power rental market is segmented into utilities, oil & gas, metals & mining, construction, manufacturing, events, corporate & retail, IT & data centers, and others. The region’s oil & gas, mining, and construction sectors represent key demand drivers, as they rely heavily on reliable and flexible power solutions to maintain continuous operations in remote or off-grid areas. Growing power demand from IT and data centers further fuels market growth, while utilities increasingly depend on rental power to manage peak loads, grid maintenance, and emergency backup requirements across diverse industrial applications.
NORTH AMERICA POWER RENTAL MARKET, BY RENTAL TYPE
Based on rental type, the power rental market has been classified into retail rental and project rental. Since rental power solutions and equipment offer flexibility in operation, they can be used for various applications such as peak shaving, base load/continuous power, and standby. Moreover, due to this operational flexibility, various end-user industries can use these solutions without any alteration. In line with that, retail users can use these equipment for shorter turnaround times, whereas project rental users can cater to the electrical needs of an entire project for longer durations with these equipment.
REGION
US to be fastest-growing country in North America power rental market during forecast period
The US power rental market is growing steadily as industrial and infrastructure projects expand across the country. Investment in construction, oil and gas, utilities, and data centers boosts the requirement for short-term power solutions to support ongoing operations. At the same time, an increase in frequency of weather-related interruptions and an ever-growing concern about the reliability of the electric grid are contributing to increased opportunities for power rental equipment as a critical backup power source. In addition, the supportive regulatory frameworks to promote cleaner energy and the reduction of greenhouse gas emissions are driving more companies toward the use of low-emission and hybrid power systems. The Inflation Reduction Act (IRA) provides a pathway and encourages the deployment of cleaner hybrid energy sources. In the U.S. power rental market, flexibility, sustainability, and cost optimization are now higher priorities than ever. Therefore, the US power rental market is expected to continue its strong growth over the next few years.
NORTH AMERICA POWER RENTAL MARKET: COMPANY EVALUATION MATRIX
Herc Rentals Inc. is positioned as a star in the North America power rental market matrix, reflecting clear leadership in both market share and service breadth. The company differentiates itself through an extensive fleet portfolio, integrated digital and monitoring platforms, and strong reach across industries such as manufacturing, oil and gas, and utilities. Kohler Co. (Emerging Leader) is steadily becoming a go-to power rental brand in North America. Its rental power solutions are compact, energy-efficient and easy to deploy, giving OEMs and users a practical alternative to traditional giants, especially in everyday applications like temporary HVAC systems, pumps, fans, and small industrial machines.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- Aggreco (UK)
- United Rentals, Inc. (US)
- Herc Rentals Inc. (US)
- Generac Power Systems, Inc. (US)
- Caterpillar Inc. (US)
- Cummins Inc (US)
- Aggreko (UK)
- Kohler Co. (US)
- Trinity Power Rentals (US)
- Clifford Power Systems (US)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2024 (Value) | USD 3.45 Billion |
| Market Forecast in 2030 (Value) | USD 4.69 Billion |
| Growth Rate | CAGR of 5.3% from 2025-2030 |
| Years Considered | 2021–2030 |
| Base Year | 2024 |
| Forecast Period | 2025–2030 |
| Units Considered | Value (USD Million/Billion), Volume (Thousand Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Countries Covered | US, Canada, and Mexico |
WHAT IS IN IT FOR YOU: NORTH AMERICA POWER RENTAL MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
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| Major Industrial EPC / Utility |
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| Oil & Gas / Mining Operator |
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| Building / HVAC System Integrator |
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RECENT DEVELOPMENTS
- August 2022 : Caterpillar signed a strategic partnership with Aggreko, a global leader in temporary power and utilities rental, for joint marketing and technology collaboration. This partnership is significant in the power rental industry, which is projected to grow to USD 26.9 billion worldwide by 2027. The partnership is part of Caterpillar’s efforts to strengthen its position in the market and enhance its offerings through collaborative innovation and marketing efforts.
- July 2021 : Aggreko partnered with R&A to deliver a renewable power solution at the 149th Open Championship at Royal St George’s Golf Club in Sandwich, England, conducted between July 15 and 18. Aggreko delivered two renewable microgrids that supplied 100% reliable power without connection to the grid. The system has already generated approximately 21,000 kWh of solar power and saved 25 tons CO2 before the event since the solution was installed in March 2021 for the event.
- May 2021 : United Rentals completed the previously announced acquisition of General Finance Corporation. This is an acquisition with strong strategic and financial merits, timed to serve the increasing demand in end markets. It expands the company’s capacity for growth due to the addition of leading mobile storage and modular office solutions, including over 900 employees with complementary expertise.
- December 2020 : Aggreko launched the Stage V 600 kVA canopy generator, which utilizes a variety of advanced exhaust treatment processes to remove the most harmful pollutants. Aggreko has specifically designed the generator, which offers a 98% reduction in the volume of particulates and expels 96% NOx gases to comply with the stringent emission regulations in both the US and Europe.
Table of Contents
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Methodology
The study involved major activities in estimating the current size of the North America Power Rental Market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.
Secondary Research
This research study on the market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and United States Energy Association, to identify and collect information useful for a technical, market-oriented, and commercial study of the North America Power Rental Market. The other secondary sources included annual reports of the companies involved in the market, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The North America Power Rental Market comprises power rental providers, manufacturers of subcomponents of power plant, manufacturing technology providers, and technology support providers in the supply chain. The demand side of this market is characterized by the rising demand for clean energy and energy efficiency. The supply side industry experts such as vice presidents, CEOs, marketing directors, technology directors, and related key executives from various companies and organizations operating in the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
North America Power Rental Market Size Estimation
Both supply side and demand side analysis were used to estimate and validate the total size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- Identification of major players in the market across countries. Key players in the North America Power Rental Market include Aggreko, United Rentals, Ashtead Group, Herc Rentals, Caterpillar, Atlas Copco, and Cummins.
- Determining the revenues and business strategy specifics, such as the inorganic and organic growth strategy details, of major power rental equipment providers.
- The market share of individual power rental segments, namely, equipment, fuel type, application, power rating, rental type, and end user, are determined by consolidating and evaluating the product offerings of major companies.
- In addition, country-level demand for power rental equipment from end users, such as utilities, oil & gas, mining & metals, manufacturing, construction, and IT & data centers, and supportive policy developments across regions during the forecast period has been analyzed. The analysed data then verified through primaries to determine the country-wise and regional landscape.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. The complete market engineering process is done to arrive at the exact statistics for all the segments and subsegments, also data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by examining various factors and trends from both the demand- and supply sides. Along with this, the market has been validated through both the top-down and bottom-up approaches.
Market Definition
Power Rental is defined as the revenue generated either through providing equipment on rent such as load banks, generators, fuel tanks, cables, transformers, and power accessories or by renting temporary power plants. Power rental equipment majorly operates on diesel, gas, and other fuels such as gasoline, hybrid fuel, and heavy fuel oil (HFO). This equipment is used for peak shaving, standby power, and base load/continuous load applications by the utilities, oil & gas, events, construction, mining & metals, manufacturing, IT & data centers, corporate & retail, and other end users. Other industries include shipping, agriculture, aerospace and defense, wherein this equipment is majorly used for the generation of backup power.
Key Stakeholders
- Consulting companies in the energy and power sector
- Consulting companies in the oil & gas sector
- Generator raw materials and component manufacturers
- Engine/generator manufacturers, dealers, and suppliers
- Governments and research organizations
- Investment banks
- Petroleum companies (diesel and natural gas suppliers)
- Construction and infrastructure development companies
- Power grid infrastructure companies
- Power plant project developers
- Power rental companies
- Shareholders or investors
Objectives of the Study
- To define, describe, analyze, and forecast the size of the North America Power Rental Market based on fuel type, power rating, application, equipment, end user, rental type, and region.
- To provide detailed information about key factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market.
- To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions of each segment to the overall market size
- To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market.
- To analyze market opportunities for stakeholders in the market and draw a competitive landscape for market players.
- To analyze competitive developments such as sales contracts, agreements, investments, expansions, new product launches, mergers, partnerships, joint ventures, collaborations, and acquisitions in the market.
- To compare key market players with respect to the market share, product specifications, and applications.
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Growth opportunities and latent adjacency in North America Power Rental Market