Power Rental Market

Market Leader - Power Rental Market

The global power rental market size is projected to reach USD 11.7 billion by 2025 from an estimated value of USD 8.6 billion in 2020, at a CAGR of 6.3%. Factors driving the growth of the demand for continuous power supply in oil & gas and mining industries, growing need for electrification, as well as a continuous power supply of rural areas. Aging power infrastructure and the need for grid stabilization.

A few global players dominate the power rental market, including Aggreko (UK), United Rentals (US), Caterpillar (US), Herc Rental (US), Ashtead Group (UK), and Atlas Copco (Sweden). Other players in the market include Speedy Hire (UK), Cummins (US), Bredenoord (UK), Kohler (US), Multiquip (US), SoEnergy (US), Allmand Brothers (US), Generac Power (US), Wacker Neuson (Germany), and more.

The popular growth strategies adopted by the leading companies include contracts & agreements, investments & expansions, mergers & acquisitions, new product launches, and partnerships (including joint ventures, strategic alliances, and collaborations). These strategies show the current and competitive scenario of the power rental market.

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Caterpillar is one of the major manufacturers of construction and mining equipment, diesel & natural gas engines, industrial gas turbines, and diesel-electric locomotives. It offers maintenance and other services throughout the product lifecycle for its clientele. The company operates through four business segments, namely, Construction Industries, Resource Industries, Energy & Transportation, and the fourth business segment is termed as All Other Segments, which caters to the company’s financial business services. The rental electrical power generators and other supportive equipment offered by the company usually operate on diesel fuel. The company provides stationary and portable generators that have a rated output voltage ranging from 120 to 600 Volts and are rated for 25 to 2,000 kVA, offering a flexible 50/60 Hz of frequency as per the requirement of the operation.

Atlas Copco is one of the key companies that provide products and solutions, including air compressors, boosters, and air treatment solutions, Nitrogen generators, power generators, steam boilers, offshore equipment, and other related accessories. The company serves and creates tailor-made solutions for construction & mining, power plants, manufacturing, oil & gas, and offshore infrastructure. Moreover, it operates through four business segments, namely, Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique. Atlas Copco provides power rental equipment through its Power Technique segment. Atlas Copco offers specialized equipment for different types of applications and has different offerings for the same. For instance, for power generation solutions, the company provides modular power stations for temporary installations, intelligent power modules, as well as hybrid energy storage systems with integrated batteries for ease of energy storage. The client gets the liberty to choose from the product line-up for the best-suited product as per his requirement.

Related Reports:

Power Rental Market by Fuel (Diesel, Natural Gas), Power Rating, Equipment, End User (Utilities, Oil & Gas, Events, Construction, Mining), Application (Peak Shaving, Base Load, Standby), Rental Type (Retail, Project), and Region - Global Forecasts to 2025

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Report Code
EP 3534
RI Published ON
10/15/2020
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