The global power rental market is projected to reach USD 12.8 billion by 2027 from an estimated USD 9.8 billion in 2022, at a CAGR of 5.6% during the forecast period. The rapid expansion of the industrial sector along with the Surging demand for uninterrupted & reliable power supply is expected to drive the demand for the global power rental market.
The North America region is estimated to be the largest market for power rental market, followed by the Asia Pacific. The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The growing population and rising per capita income are the key drivers behind the growing demand for power rental applications in the Asia Pacific region.
To know about the assumptions considered for the study download the pdf brochure
The power rental market is served by a mix of regional and local players with operational presence across their regions and local players commanding a strong supply network in the domestic market. The leading players in the global power rental market include Aggreko Plc (UK), Ashtead group Plc (UK), United rentals Inc ( US), Atlas copco (Sweden), Caterpillar Inc (US), Cumminc Inc (US), HERC Rentals (US).
Aggreko Plc (UK) provides power generators and temperature control solutions on rent. The company offers products and services such as power generation and cooling rental & solutions, dehumidification, load bank rental, energy storage, new generators, HFO power plants, and hybrid power plants. It caters needs of industries including utilities, oil & gas, events, construction, mining, manufacturing, IT & data centers, and others. Aggreko Plc operates through two business units, namely, Power Solutions and Rental Solutions. The Power Solutions segment serves utility and industrial customers wherein the industrial power solutions subsegment operates in various sectors such as oil & gas, petrochemicals & refining, and mining. It provides power rental solutions under its Rental Solutions business segment which accounted for higher than USD 790 million in 2020. The Rental Solutions segment provides solutions and equipment for customers as well as contractual turnkey solutions including servicing and maintenance. Aggreko Plc operates in 80 countries through 182 sales and service centers and competes with companies such as Herc Rentals, United Rentals, Cummins, Atlas Copco, and Caterpillar in the power rental market. Aggreko Plc has a strong foothold on the North American market and generated 31.5% of its revenue from the region in 2020. The company has also been successful in increasing its revenues from the fast-growing markets in Europe. This is expected to enable Aggreko Plc create a highly balanced revenue stream across different regions.
Ashtead Group plc (UK) is an international equipment rental company that rents a complete range of construction and industrial equipment across a wide variety of applications to a diverse customer base. The company operates majorly in the US, Canada, and the UK, under the brand name Sunbelt Rentals. It operates through three business segments namely, Rental Equipment, Sale of Used Rental Equipment, and Sale of New Equipment. It majorly focuses on its rental business operations through three business units, namely, Sunbelt US, Sunbelt UK, and Sunbelt Canada providing various rental equipment. The company provides diesel- and gasoline- (petrol) based generators for its clientele. The company has a wide-ranging operational rating which is helpful for customers requiring power generators for tasks such as powering a single small building. The fuel flexibility of these generators offers an added advantage for clients. In addition to conventional generators, the company also offers load banks that can be used for resistive and inductive load balancing for end-use applications. The Ashtead Group operates approximately through 836 stores in over 47 states in the US and over 75 stores in Canada. While in the UK, it operates through 192 stores located across the country. In the North American power rental market, the company specifically competes with United Rentals, Herc Rental, Cummins, Atlas Copco, and Caterpillar.
Power Rental Market by Fuel Type (Diesel, Natural Gas), Equipment (Generators, Transformers, Load Banks), Power Rating (Up to 50 kW, 51–500 kW, 501-2500 kW, Above 2500 kW), Application, End User and Region - Global Forecast to 2027
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.SEND ME A FREE SAMPLE