Power Rental Market: Size, Share, Trends & Forecast (2024-2029) 

The market report presents a thorough analysis segmented by Fuel Type (Diesel, Natural Gas, Other Fuel Type); by Equipment (Generators, Transformers, Load Banks, Other Equipment); by Power Rating (Up to 50 kW, 51-500 kW, 501-2500 kW, Above 2500 kW); by End User (Utilities, Oil & Gas, Mining & Metals, Manufacturing, Construction, IT & Data Centers, Corporate & Retail, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The power rental market is estimated to be at USD 11,820.23 Mn in 2024 and is anticipated to reach USD 16,190.12 Mn in 2029. 

• The power rental market is registering a CAGR of 6.49% during the forecast period of 2024-2029. 

• The power rental market is essential for providing temporary and scalable power solutions across various industries, driven by rapid industrialization, especially in developing economies. The growing demand for reliable, uninterrupted power supply and the need for electrification in remote areas are key factors fueling market growth. Additionally, frequent power outages due to natural disasters and aging infrastructure further increase the demand for rental power solutions. 

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Ecosystem 

• The participants in the global power rental industry are always developing their strategies to preserve a competitive advantage. 

• Leading players in the market are increasingly focusing on innovation to stay competitive. This includes the development of more efficient, lower-emission generators and hybrid power solutions that combine traditional rental equipment with renewable energy sources like solar and wind. 

• Several important entities in the power rental market include Aggreko Plc; Ashtead Group Plc; United Rentals, Inc.; Herc Holdings Inc.; Generac Holdings Inc.; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 11,820.23 Mn
Market Size (2029)	USD 16,190.12 Mn
Growth Rate	6.49% CAGR from 2024 to 2029
Key Segments	Fuel Type (Diesel, Natural Gas, Other Fuel Type); Equipment (Generators, Transformers, Load Banks, Other Equipment); Power Rating (Up to 50 kW, 51-500 kW, 501-2500 kW, Above 2500 kW); End User (Utilities, Oil & Gas, Mining & Metals, Manufacturing, Construction, IT & Data Centers, Corporate & Retail, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Aggreko Plc; Ashtead Group Plc; United Rentals, Inc.; Herc Holdings Inc.; Generac Holdings Inc.
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	North America

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Trends  

• Hybrid Power Solutions: Hybrid power solutions combining traditional generators with renewable energy sources like solar and wind are gaining traction in the power rental market. These systems reduce fuel consumption, lower emissions, and enhance energy efficiency, which makes them a preferred option for industries focused on sustainability. 

• Smart Monitoring and Control Systems: The integration of IoT and smart monitoring systems in power rental equipment allows real-time tracking of performance metrics, fuel consumption, and maintenance needs. Companies are leveraging these technologies to optimize operations, reduce downtime, and enhance overall efficiency. This trend is particularly evident in the construction and event management sectors, where power reliability is critical. 

• Energy Storage Integration: The incorporation of energy storage systems, such as lithium-ion batteries, with rental power units is an emerging trend. This integration allows for better load management, peak shaving, and even the potential for off-grid operation. These storage systems are particularly beneficial in applications requiring a backup during grid outages or in areas with unstable power supply. 

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Catalysts 

• Rapid Industrialization in Developing Economies: The swift pace of industrialization in developing countries is driving the demand for temporary and reliable power solutions. As new factories, plants, and industrial hubs emerge, there is an increasing need for power rental services to support operations, particularly in regions where the electrical grid is underdeveloped or unreliable. 

• Surging Demand for Uninterrupted and Reliable Power Supply: Businesses across various sectors, such as manufacturing, construction, and events, require uninterrupted power to ensure smooth operations. The demand for reliable power rental services has surged as companies seek to mitigate the risks associated with power outages, ensuring continuous production and minimizing downtime. 

• Growing Need for Electrification and Continuous Power Supply in Developing Regions: In many developing regions, the push for electrification is still ongoing, with many areas lacking consistent access to electricity. The growing need for continuous power supply in these regions, particularly for critical infrastructure and emergency services, is fueling the demand for power rental solutions that can provide immediate and reliable electricity where the grid is insufficient or non-existent. 

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Restraints 

• Fluctuating Fuel Prices: The power rental market heavily depends on fuel, particularly diesel, to operate generators and other equipment. Fluctuations in fuel prices can significantly impact operating costs, making it challenging for power rental companies to maintain profitability and offer competitive pricing. These variations also add uncertainty to long-term contracts, complicating cost management for both providers and clients. 

• Stringent Environmental Regulations: Increasingly strict environmental regulations aimed at reducing emissions and promoting cleaner energy sources pose a challenge for the power rental market. Companies are under pressure to adopt more environmentally friendly technologies, such as low-emission generators or alternative energy sources, which can be costly to implement and maintain. Non-compliance can result in fines, operational restrictions, or even the loss of business opportunities. 

• Competition from Renewable Energy Sources: As renewable energy technologies become more affordable and widely adopted, the power rental market faces competition from solar, wind, and battery storage solutions. Clients seeking long-term, sustainable power solutions may opt for renewable energy options over traditional rental services, especially in regions with strong government incentives or mandates for green energy. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Power Rental Market (2018 – 2022)         2.2.    Global Power Rental Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Power Rental Market by Fuel Type                3.1.1.    Diesel                3.1.2.    Natural gas                3.1.3.    Other Fuel Type         3.2.    Global Power Rental Market by Equipment                3.2.1.    Generators                3.2.2.    Transformers                3.2.3.    Load Banks                3.2.4.    Other Equipment         3.3.    Global Power Rental Market by Power Rating                3.3.1.    Up to 50 kW                3.3.2.    51-500 kW                3.3.3.    501-2500 kW                3.3.4.    Above 2500 kW         3.4.    Global Power Rental Market by End User                3.4.1.    Utilities                3.4.2.    Oil & Gas                3.4.3.    Mining & Metals                3.4.4.    Manufacturing                3.4.5.    Construction                3.4.6.    IT & Data Centres                3.4.7.    Corporate & Retail                3.4.8.    Others  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Power Rental Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Aggreko Plc         9.2.    Ashtead Group Plc         9.3.    United Rentals, Inc.         9.4.    Herc Holdings Inc.         9.5.    Generac Holdings Inc.         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Power Rental Market – FAQs 

1.  What is the current size of the power rental market? 

Ans. In 2024, the power rental market size is USD 11,820.23 Mn. 

2.  Who are the major vendors in the power rental market?  

Ans. The major vendors in the power rental market are Aggreko Plc; Ashtead Group Plc; United Rentals, Inc.; Herc Holdings Inc.; Generac Holdings Inc. 

3.  Which segments are covered under the power rental market segments analysis?  

Ans. The power rental market report offers in-depth insights into Fuel Type, Equipment, Power Rating, End User, and Geography.