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%
NEW YORK, Oct. 22, 2020 /PRNewswire/ -- 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%. Key factors driving the demand for power rental solutions include demand for continuous power supply in oil & gas and mining industries, growing need for electrification, as well as a constant power supply of rural areas. Aging power infrastructure and the need for grid stabilization are other pertinent factors supporting the growth of the market.
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The diesel segment is expected to hold the largest technology share of the power rental market during the forecast period.
The diesel segment is estimated to be the largest- segment of the power rental market, by fuel type, from 2020 to 2025.Key advantages of using diesel generators include economical operation and easy availability and storage.
Additionally, diesel generator sets are ideal for long-term (prime) operations with a load of range 70–80% as they are designed typically to offer the best operational efficiency.
North America: The fastest-growing market for power rental.
The North American region is expected to be the largest and fastest-growing power rental, by region, during the forecast period.Countries such as the US and Canada are the fastest-growing markets in the North American region.
North America is expected to continue to dominate the power rental market during the forecast period, owing to factors such as increasing investments in the oil & gas, construction, and mining industries. Additionally, the increased investments in the mining and related exploration activities in the region are also driving the requirement for power rental equipment during the forecast duration.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 47%, Tier 2- 31%, Tier 3- 22%
• By Designation: C-Level - 42%, Managers- 40%, Others- 18%
• By Region: Asia Pacific- 50%, Africa- 2%, Europe- 26%, and North America- 22%
Note: The tier of the companies has been defined based on their total revenue; as of 2017: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
The key players in 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.
Study Coverage:
The report provides a complete view of the power rental market across the power industry and regions.It aims at estimating the market size and future growth potential of the market across different segments such as fuel type, power rating, application, end-user, equipment, rental type, and region.
Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.
The market has been segmented based on type, rated capacity, liter, and region, with a focus on industry analysis (industry trends). The market ranking analysis of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the power rental market.
Key Benefits of Buying the Report
1. The report identifies and addresses key markets for the implementation of power rental in various industries, which would help manufacturers review the growth in demand.
2. The report helps solution providers understand the pulse of the market and provide insights into drivers, opportunities, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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