Power Rental Global Market Report 2022: Sector to Reach $14.02 Billion in 2026 at a CAGR of 9.15%

DUBLIN, Feb. 28, 2023 /PRNewswire/ -- The "Power Rental Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

This report provides the strategists, marketers and senior management with the critical information they need to assess the global power rental market.

The global power rental market is expected to grow from $9.25 billion in 2021 to $9.88 billion in 2022 at a compound annual growth rate (CAGR) of 6.83%. The power rental market is expected to grow to $14.02 billion in 2026 at a compound annual growth rate (CAGR) of 9.15%.

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Major players in the power rental market are Atlas Copco, Caterpillar, United Rentals, Cummins, Aggreko, Generac, Kohler, Ashtead Group, Herc Rentals, Shenton, Bredenoord, Sudhir Power, Wagner Equipment, GMMCO Limited and Energyst.

The power rental market consists of sales of power rental services by entities (organizations, sole traders, and partnerships) that refer to a service that allows leasing equipment that temporarily provides prime or standby power as and when needed. Generator sets, load banks, and an electrical distribution system are commonly rented for power.

The main equipment of the power rental are generators, transformers, load banks, and others. Generators are gadgets that provide electrical power in the event of a power loss, allowing daily activities and business operations to continue uninterrupted. The major applications of these equipment are standby power, peak shaving, and base load/continuous power. Diesel, natural gas, and others fuel types are used to run the power rental equipment and are used in various end-user segments which also include utilities, oil & gas, construction, manufacturing, metal & mining, IT and data centers, corporate & retail, events, and others.

Asia Pacific was the largest region in the power rentals market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in power rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Rapid industrialization is driving the growth of the power rental market. It has led to a rapid increase in economic development. There has been development in various sectors which include, information technology, manufacturing, and construction. Each of these sectors requires continuous supply of power to carry on their operations smoothly.

For instance, in October 2021, India's Prime Minister Narendra Modi unveiled a $1.3 trillion master plan for multimodal connectivity to construct infrastructure to reduce logistic costs and boost the Indian economy.

The $1.3 trillion plan also includes a $130.57 billion allocation to the infrastructure sector. Therefore, demand for power rental will rise as the prevalence of rapid industrialization and increased spent on infrastructure development in major developing nations.

Partnerships and collaborations are gaining trend in the power rental market. Companies are entering into partnerships to expand their market by leveraging each other's resources. 

In January 2022, Herc Rentals, a US-based rental company specializing in equipment & tool rentals for construction and industrial applications, acquired Temp-Power Inc. for an undisclosed amount. With this acquisition, Herc Rentals will leverage the rentals solutions of Temp-Power. Temp-power is a Virginia-based company specializing in portable and towable generators, light towers and balloons, power distribution, on-site diesel fuel delivery, temperature control (AC, heat, dehumidifiers), utility vehicles/golf carts, and on-site technicians.

The countries covered in the power rentals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Key Topics Covered:

1. Executive Summary

2. Power Rental Market Characteristics

3. Power Rental Market Trends And Strategies

4. Impact Of COVID-19 On Power Rental

5. Power Rental Market Size And Growth
5.1. Global Power Rental Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Power Rental Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Power Rental Market Segmentation
6.1. Global Power Rental Market, Segmentation By Equipment, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Generators
• Transformers
• Load Banks
• Others

6.2. Global Power Rental Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Standby Power
• Peak Shaving
• Base Load/Continuous Power

6.3. Global Power Rental Market, Segmentation By Fuel Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Diesel
• Natural Gas
• Others

6.4. Global Power Rental Market, Segmentation By End-Users, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Utilities
• Oil And Gas
• Construction
• Manufacturing
• Metal And Mining
• IT And Data Centers
• Corporate And Retail
• Events
• Others

7. Power Rental Market Regional And Country Analysis
7.1. Global Power Rental Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Power Rental Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/xe01ir-rental?w=5

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