Power rental, often known as power on hire, provides various advantages over purchasing power equipment. Rental generators are more effective than purchased generators because they allow flexibility in the power rating required, have minimal maintenance and installation costs, are easily available on short notice, and have reduced initial costs, among other advantages. Manufacturers often prefer to hire generators when the existing power supply system needs to be maintained, grid infrastructure is unavailable, or temporary power is required. Rental power is a common notion for global events.
According to SPER market research, ‘Global Power Rental Market Size- By Fuel Type, By Equipment, By End-User - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Power Rental Market is predicted to reach 20.66 billion by 2034 with a CAGR of 6.36%.
Drivers:
The increasing need for a constant power supply and electrification in developing countries is expected to drive the growth of the power rental market. As these economies undergo rapid urbanization, industrialization, and infrastructure development, they require reliable and accessible power to support economic growth and improve living standards. However, many face challenges like insufficient generation capacity, unstable power infrastructure, and limited grid access, leading to outages. Power rental options offer a flexible and cost-effective solution to provide additional or temporary power, helping to meet demand in critical areas like construction sites and remote locations.
Request a Free Sample Report: https://www.sperresearch.com/report-store/power-rental-market?sample=1
Restraints:
Stringent government regulations related to generators can hinder the market in several ways. Emission standards and environmental compliance might lead to extra costs for rental companies, especially for older or inefficient models. Following these regulations may require upgrades, new technologies, or pollution control measures, raising expenses and lowering profits. Additionally, rental use may be limited in certain areas, like residential neighborhoods, hospitals, and nature reserves, due to rules on noise and air quality. Compliance with these rules can decrease the demand for rented generators.
Asia Pacific led the global power rental market, holding the largest revenue share in 2024. The region is growing quickly due to urbanization, industrial growth, and more infrastructure projects in countries like India, China, and Southeast Asia. A major trend is the rising need for temporary power in construction as governments invest in roads, bridges, and railways. Additionally, there is a growing demand for reliable power in remote areas, especially in mining and oil & gas. Some of the key market players are Caterpillar Inc, Cummins Inc, Aggreko, Atlas Copco, Kohler-SDMO, Shenton Group, NIDS GROUP, Jassim Transport & Stevedoring Co. K.S.C.C, and others.
For More Information, refer to below link: –
Related Reports:
Follow Us –
LinkedIn | Instagram | Facebook | Twitter
Contact Us:
Sara Lopes, Business Consultant — USA
SPER Market Research
enquiries@sperresearch.com
+1–347–460–2899
Comments
0 comment