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Power Generator Rental Market Size (2024 - 2029)

The power generator rental market is experiencing growth, driven by the high costs of purchasing new generators and significant developments in sectors like oil and gas and construction. Despite challenges posed by the expansion of power distribution networks and the rise of renewable energy projects, the market has rebounded to pre-pandemic levels. The increasing global population and the subsequent demand for energy and infrastructure are expected to further propel the market. North America plays a crucial role in this market, with factors such as scheduled power shutdowns and new industrial projects contributing to its expansion.

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Market Size of Power Generator Rental Industry

Power Generator Rental Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 5.20 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Power Generator Rental Market Major Players

*Disclaimer: Major Players sorted in no particular order

Power Generator Rental Market Analysis

The power generator rental market is expected to record a CAGR of greater than 5.2% during the forecast period.

The market was negatively impacted by COVID-19. Presently, the market has reached pre-pandemic levels.

  • The drivers for the power generator rental market include the cost associated with purchasing new generators and tremendous developments in various sectors, such as oil and gas, construction, etc.
  • However, the expansion of power distribution networks and rising development in renewable energy projects are expected to act as a restraint for the market's growth.
  • With the rising population, projects from different sectors are expected to increase to meet the requirements, like energy, commercial and residential space, and manufacturing units, for daily needs. For instance, the global population is estimated to reach nearly 8.5 billion by 2030, which may boost global construction spending to USD 17.5 billion. Growth in construction implies a high possibility of an increase in the worldwide power generator rental market.
  • North America is a significant region for the power generator rental market. It is estimated that scheduled power shutdowns, new projects installations for various industries, and enplanements, such as natural disasters and seasonal peak power demand, may primarily drive the regional power generator rental market.

Power Generator Rental Industry Segmentation

Power generators are key power sources in the oil and gas industry, particularly for drilling and digging activities. The operations are the most crucial task leading to hydrocarbon generation, and a lot of power is required to operate the massive machinery. Power generators ranging from 500 kilovolts to 2,500 kilovolts are mostly used for this machinery.

The power generator rental market is segmented by end user and geography. By end user, the market is segmented into oil and gas, construction, mining, manufacturing, data centers, and other end users. The report also covers the market size and forecasts for the power generator rental market across the major regions. For each segment, the market sizing and forecasts have been done on the revenue (USD million).

By End User
Oil and Gas
Construction
Mining
Manufacturing
Data Centers
Other End Users
By Geography
North America
Asia-Pacific
Europe
South America
Middle East and Africa
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Power Generator Rental Market Size Summary

The power generator rental market is poised for growth, driven by the increasing demand for energy and infrastructure projects across various sectors such as oil and gas, construction, and manufacturing. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels. The rising global population and subsequent urbanization are expected to fuel construction activities, thereby boosting the demand for power generator rentals. However, the expansion of power distribution networks and advancements in renewable energy projects may pose challenges to market growth. North America stands out as a significant region for this market, with factors like scheduled power shutdowns, new industrial projects, and seasonal peak power demands driving the demand for rental generators.

In the oil and gas sector, the need for high-capacity power generators is critical due to the remote locations and demanding environments of many projects. These generators are essential for both operational power supply and backup during emergencies. The sector's substantial investment in exploration and production activities is anticipated to further propel the rental market. North America's market is characterized by a strong reliance on diesel generators, although there is a growing shift towards alternative fuel options due to environmental concerns. The United States, in particular, is increasing its use of natural gas generators to reduce emissions. The construction boom and rising energy demands in North America are expected to significantly contribute to the market's expansion, supported by investments in both the oil and gas industry and infrastructure projects.

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Power Generator Rental Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Power Generator Rental Market in USD million, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Industry Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End User

      1. 2.1.1 Oil and Gas

      2. 2.1.2 Construction

      3. 2.1.3 Mining

      4. 2.1.4 Manufacturing

      5. 2.1.5 Data Centers

      6. 2.1.6 Other End Users

    2. 2.2 By Geography

      1. 2.2.1 North America

      2. 2.2.2 Asia-Pacific

      3. 2.2.3 Europe

      4. 2.2.4 South America

      5. 2.2.5 Middle East and Africa

Power Generator Rental Market Size FAQs

The Power Generator Rental Market is projected to register a CAGR of greater than 5.20% during the forecast period (2024-2029)

Atlas Copco (India) Ltd , Herc Rentals Inc., Cummins Inc., Ashtead Group PLC and United Rentals Inc. are the major companies operating in the Power Generator Rental Market.

Power Generator Rental Market Report Snapshots

Power Generator Rental Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)