Power Rental Market Size By Power Rating (<75 KVA, 75-375 KVA, 375-750 KVA, >750 KVA), By Fuel (Diesel, Gas, Others), By End-Use (Telecom, Data Center, Healthcare, Oil & Gas, Electric Utilities, Offshore, Manufacturing, Construction, Mining, Marine), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Global Power Rental Market size exceeded USD 13 billion in 2019 and is set to achieve over 3% CAGR through 2026. Rising need for continuous and reliable power supply coupled with aging grid infrastructure and upsurge in investments toward construction & infrastructure development will boost the demand for rental power systems.
 

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Renting is a popular phenomenon among businesses owing to the treatment of expenditure incurred on leasing as revenue expenditure that is written off in the same year. The assets that are owned by the companies are amortized in forthcoming years based on statutory rules. Therefore, businesses utilize rental gensets as a strategic tool contingent on the prevailing situations.
 

The global economy has been hit hard by an unforeseen outbreak of the novel coronavirus, also known as COVID-19. The virus was first recognized in China’s Hubei area in December 2019 and since then it has become a global health threat. According to the World Health Organization (WHO), COVID-19 has impacted 140 countries and has also caused lockdowns in a few countries, in turn, limiting the industry growth. However, the continuous demand for new projects to answer to the crisis including healthcare sector will positively impact the market outlook.
 

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Growing demand for uninterrupted power supply from commercial application will fuel the 75-375 KVA power rental market growth

Increasing demand for continuous power supply coupled with rapid industrialization will positively impact the power rental industry statistics. Rising uptake of projects in different locations along with challenges faced while transporting of entire equipment set from one location to another will stimulate the product demand. Further, manufacturers are offering beneficial renting schemes to the customers along with allocation of services in less time, thereby complementing the market scenario.
 

Favorable government initiatives toward expansion of metro and airport networks primarily across the developing economies will strengthen the 75-375 KVA based power rental market outlook. Robust growth across construction sector including development of hotel, malls and complexes will further drive the product penetration. In addition, elevating costs of data centers outages and downtimes will complement the wide scale product commercialization and lease.
 

Low up-front costs and round the clock power availability will drive the diesel power rental industry growth

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Growing foreign investments along with ongoing technological advancements including high reliability and efficiency will complement the diesel power rental market share. Frequent power cuts and blackouts along with aging transmission and distribution lines will positively influence industry outlook.
 

The rental units can be easily setup without the additional infrastructure and can be demobilized to serve other projects after meeting the demand. Easy availability, longer life span, and higher energy density of fuel are some of the key factors strengthening the market scenario.
 

Introduction of strict government directives toward increasing emission rate followed by rising adoption of renewable systems will drive the gas-based power rental demand. Growing customer inclination toward operational suitability & economic viability will strengthen the market growth. In addition, rising demand for green alternatives in line with shifting focus toward sustainability and hybrid technologies will encourage the product demand.
 

Rough working conditions in oil & gas and mining applications will stimulate the market growth

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Oil & Gas based power rental market will grow on account of increasing energy demand across upstream, midstream and downstream operations. Ongoing infrastructural investment along with rising focus toward exploration of new wells will augment the market outlook. Further, the oil producers mainly prefer renting power units owing to unbalanced operation structure of wells during upstream operations.
 

Mining accounts for over 10% of the market share in 2019. Limited grid connectivity across the operation sites, as these activities as generally practiced in the outskirts of towns or cities, will stimulate the demand for power renting units. These systems are deployed to operate jobsite equipment, power communication systems and provide lighting to the sites for the uninterrupted operations.
 

Flourishing industrial sector will fuel the base load power rental industry forecast

Prime or continuous is set to grow on account of increasing applicability across industries including marine, oil & gas, mining and construction. These systems operate as the prime source of power for extended time periods. Resurgent industrialization & expanding infrastructure, primarily across the developing economies is set to drive the rental demand. Moreover, shifting consumer inclination toward powerful units owing to their viability and suitability will augment the market scenario.
 

Asia Pacific power rental market anticipated to witness growth at the fastest rate

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Asia Pacific, Africa and Middle East is anticipated to contribute over  50% market share by 2026. The regions are categorized by the existence of limited access to electricity, growing urbanization and robust service sector. These products are commonly installed in O&G, construction and mining sites with an aim to ensure reliable & safe operation. India is poised to witness an extensive demand for these gensets on account of the dynamic expansion of telecom infrastructure, rapid industrial growth, and frequent power failures.
 

In North America, Canada power rental market is set to register more than  3% CAGR through 2026, owing to age old power infrastructure accompanied by sudden blackouts. Growing infrastructural investments coupled with flourishing commercial sector is set to complement the business landscape.
 

In addition, intensifying and frequent weather-related disasters have substantially widened the rental spectrum for these gensets. The failure of the electrical grids to endure an amplified demand load coupled with current incidences of severe hurricane events, notably the Hurricane Irma and Hurricane Harvey will augment the market size.
 

Wide product spectrum and beneficial rental schemes will act as a crucial point for market participants

Eminent players are focusing toward expanding their product spectrum along with offering attractive rental schemes to maintain their competitive edge in the industry. The key market players are laying emphasis on economies of scale and backward integration for maintaining quality standards.
 

Major market participants include Atlas Copco, Caterpillar, United Rentals, Cummins, Aggreko, Generac, Kohler, Wacker Neuson, Ashtead, Herc Holdings, Shenton Group, Ingersoll Rand, Energyst, GMMCO, Perennial Technologies, Wagner, Quippo, Sudhir Power, Wärtsilä, Himoinsa, APR Energy, Perfect Hiring, Modern Hiring, ProPower, NIDS Group, Al Faris Group, Bredenoord, and Hertz amongst others.
 

Power rental market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2026, for the following segments:

By Power Rating

• < 75 KVA
• 75-375 KVA
• 375-750 KVA
• >750 KVA

By Fuel

• Diesel
• Gas
• Others

By End-Use

• Telecom
• Data Center
• Healthcare
• Oil & Gas
• Electric Utilities
• Offshore
• Manufacturing
• Construction
• Mining
• Marine
• Others

By Application

• Standby
• Peak Shaving
• Prime/Continuous

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada
• Europe
  • Russia
  • UK
  • Germany
  • France
  • Spain
  • Austria
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • Philippines
• Middle East
  • Saudi Arabia
  • UAE
  • Qatar
  • Turkey
  • Iran
  • Oman
• Africa
  • Egypt
  • Nigeria
  • Algeria
  • South Africa
  • Angola
  • Kenya
  • Mozambique
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile