Power Rental Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

The power rental market is expected to register a CAGR of around 7% over the period of 2021-2027. Rising investments in power transmission and distribution networks coupled with the growing augmentation and modernization of transmission and distribution networks across the globe are expected to drive the market. Power rental refers to the facility of temporarily renting power equipment for supplying energy across industries. It delivers functioning power equipment along with various scalable components, which are installed in power stations. It also offers reliability, flexibility, speed, and cost-effectiveness to businesses for coping with brief shortages of power. The power rental services are aimed to stabilize utility power grids and provide additional energy to industries and support communities. Owing to this, it finds extensive application across the construction, mining, and oil & gas industries.

However, industry growth witnessed some stress and negative impact due to COVID-19. The sudden outbreak of COVID-19 has sent shockwaves across industries manufacturing, power generation, renewables, nuclear, and oil and gas. The outbreak and the resulting economic slowdown have had an intermediate impact on power rental.

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 According to UnivDatos Market Insights (UMI)’ research report “global power rental market”, the market is expected to witness robust growth during the forecast period 2021-2027F. Rapid industrialization and urbanization resulting in rising electricity demand and continuous power supply are some major factors driving the market for power rental equipment. Thus, with the rising population, projects from different sectors are expected to increase to meet the requirements, like energy, commercial and residential space, and manufacturing units, for daily needs. For instance, the global population is estimated to reach nearly 8.5 billion by 2030, which is expected to increase global construction spending to USD 17.5 billion. Growth in construction implies a high possibility of an increase in the power rental market, globally.

Based on application, the market is classified into continuous load, standby load, and peak load. Amongst them, in 2020, the continuous load category dominated the market. This is mainly due to the rising need for continuous power supply in remote locations such as mining, construction, oil & gas operations, ships, etc. where the access to grid supply is not present. Here, the equipment installed act as primary power equipment such as the use of generators as the primary power source. In addition, the rise in population and urbanization rate coupled with the increasing demand for electricity has resulted in the expansion of prime power generation capacity.

Based on power rating, the market is categorized into Up to 50 kW, 51 kW – 500 kW, 501 kW – 2500 kW, and Above 2500 kW. During the forecast period, the 501–2,000 KW category is expected to witness significant growth in the global power rental market owing to its greater applicability driven by increasing demand for backup power in commercial spaces such as hotels, telecom towers, and educational institutions Furthermore, the rising population and rapid urbanization have increased the demand for a consistent supply of electricity. Demand for power rental systems will be driven by the lack of additional infrastructure requirements and lower setup costs, as well as the growing urgency to maintain continuous business operations.

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APAC to witness extensive growth

For a better understanding of the market adoption of the power rental industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and the Rest of World. Asia Pacific holds the extensive market share predominantly because the region is witnessing some of the largest T&D expansions due to rapidly increasing demand in countries such as India and China. Furthermore, the demand for power rental systems is increasing in the region due to their cost-effectiveness as they require low installation costs and negligible maintenance, as well as provide an uninterrupted and reliable power supply.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global power rental market are Caterpillar Inc., Cummins Inc., Aggreko plc, Ashtead Group plc, United Rentals Inc., Atlas Copco AB, Herc Rentals Inc., Generac Holdings Inc., Wacker Neuson SE, and Kohler Co. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

“Global power rental Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentations:

1.      By Application (Continuous Load, Standby Load, and Peak Load)

2.      By Equipment (Generators, Transformers, Load Banks, and Others)

3.      By Power Rating (Up to 50 kW, 51 kW – 500 kW, 501 kW – 2500 kW, and Above 2500 kW)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (Caterpillar Inc., Cummins Inc., Aggreko plc, Ashtead Group plc, United Rentals Inc., Atlas Copco AB, Herc Rentals Inc., Generac Holdings Inc., Wacker Neuson SE, and Kohler Co.)

Key questions answered in the study:

1.      What are the current and future trends of the global power rental industry?

2.      How the industry has been evolving in terms of equipment and application?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global power rental industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global power rental suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL POWER RENTAL MARKET COVID-19 IMPACT

6 GLOBAL POWER RENTAL MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY APPLICATION

8 MARKET INSIGHTS BY EQUIPMENT

9 MARKET INSIGHTS BY POWER RATING

10 MARKET INSIGHTS BY REGION

11 POWER RENTAL MARKET DYNAMICS

12 POWER RENTAL MARKET OPPORTUNITIES

13 POWER RENTAL MARKET TRENDS

14 DEMAND AND SUPPLY-SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER

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