Power Rental Market Value By Fuel Type (Natural gas, Diesel), By Application (Peak shaving, Standby power, Base load/ continuous power), By Rental Type (Retail Rental, Project Rental), By Region - Industry Share, Statistics & Forecast, 2023 - 2032

Market Overview:

• Power Rental Market size surpassed USD 9.5 Billion in 2022.
• The market is expected to showcase a CAGR of over 5.3% from 2023 to 2032. 
• By the end of the forecast period, the industry is anticipated to reach a valuation of around USD 14.7 Billion.

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Power rental, also known as temporary power or generator rental, refers to the practice of renting power generation equipment, such as generators, transformers, and associated accessories, for a specified period of time. It is a flexible and cost-effective solution that allows businesses and individuals to meet their temporary or backup power needs without the need for capital investment in purchasing such equipment. The concept of power rental revolves around providing reliable and immediate access to electricity in situations where the existing power infrastructure is insufficient, unreliable, or non-existent. It caters to a wide range of industries and applications, including construction sites, events, disaster relief efforts, remote locations, industrial projects, and temporary power supply during scheduled maintenance or unexpected power outages. 

Furthermore, key players are driving industry growth by advancing their development efforts. For instance, in April 2020, Atlas Copco has launched ZBC, the newest addition to its line of lithium-ion energy storage systems known as ZenergiZe. The ZBC model offers versatile applications, serving as a standalone power source, a hybrid solution when combined with generators, and an integration option for renewable energy sources. Additionally, it facilitates the creation of microgrids for enhanced power management.

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Growth Factors: 

• The power rental market is experiencing significant growth driven by multiple factors. Increasing demand for temporary power solutions across diverse sectors such as construction, events, and industries fuels industry expansion. The need for reliable backup power systems, particularly in regions susceptible to power outages and natural disasters, further drives market growth. 
   
• Rapid urbanization and infrastructure development in emerging economies generate demand for temporary power solutions to support ongoing projects. The adoption of renewable energy sources and integration of sustainable power generation technologies contribute to market expansion. Availability of a wide range of power rental equipment and services offered by established rental companies also boosts market growth. These factors collectively contribute to the thriving Power Rental market.

By Fuel Type Synopsys:  

The natural gas segment is projected to be the emerging in the power rental market from 2023 to 2032. Natural gas is an affordable and effective fuel for emergency and portable generators, making it a preferred choice among non-renewable resources for power generation. Gas generators are more cost-effective and environmentally friendly than diesel generators, as they reduce air pollutants and carbon emissions. They come in various sizes, from portable to industrial, and can operate on different forms of gas. Gas generators are particularly economical and eco-friendly for power ratings below 150 KVA. However, as the power rating increases, the cost of gas generators surpasses that of similarly powered diesel generators. For power ratings above 150 KVA, gas generators are 60-100% more expensive compared to diesel generators.

By Rental Type Synopsys:  

The project rental segment from power rental market is slated to grow rapidly from 2023 To 2032. It focuses on renting equipment and solutions, including power, heating, and cooling, to key sectors in emerging markets for longer durations. Project rental involves renting generators for the entire duration of specific projects, such as those in the oil & gas and mining industries. On the other hand, retail rental refers to short-term generator rentals for commercial purposes. The demand for base load/continuous power and stand-by power supply in developing regions drives the growth of project rental. For example, in Arad, Romania, a local utility received 2 1 MW batteries and other equipment for 36 months, resulting in reduced carbon emissions and affordable heated water and electricity.

Regional Overview:

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The power rental market in North America held 31% of the revenue share in 2022, driven by factors such as increasing demand for temporary power solutions in events, construction, and industrial sectors. The region has a well-established infrastructure and a growing emphasis on renewable energy sources.  The Asia Pacific region is experiencing significant growth in the power rental market due to rapid industrialization, urbanization, and infrastructure development. Countries like China, India, and Southeast Asian nations are driving the demand for temporary power solutions in construction, mining, and oil and gas sectors.

Key Development:

• In November 2021, Caterpillar Inc. has unveiled a collaborative three-year project with Microsoft and Ballard Power Systems. The project aims to showcase a power system that integrates large-format hydrogen fuel cells to deliver dependable and sustainable backup power for Microsoft data centers.
   
• In May 2020, Caterpillar Inc., in partnership with Microsoft and Ballard Power Systems, has announced a three-year project to demonstrate a power system that incorporates large-format hydrogen fuel cells. The objective of the project is to showcase a reliable and sustainable backup power solution for Microsoft data centers.

Top companies includes in the global power rental market:

• FG Wilson (United Kingdom)
• Caterpillar Inc. (United States)
• Cummins Inc. (United States)
• Newburn Power Rental Ltd (United Kingdom)
• Aggreko (United Kingdom)
• Atlas Copco (Sweden)
• Kohler-SDMO (France)
• Shenton Group (United Kingdom)
• Modern Hiring Service (India)
• NIDS GROUP (India)
• Sudhir Power Ltd. (India)
• Pump Power Rental (United Kingdom)
• United Rentals (United States)
• Global Power Supply (United States)
• Others

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In-depth analysis of power rental market along with industry coverage and forecasting for the following segments:

Market Size, By Fuel Type

• Natural gas
• Diesel
• Others

Market Size, By Application

• Peak shaving
• Standby power
• Base load/ continuous power

Market Size, By Rental Type

• Retail Rental
• Project Rental

Market Size, By End Users

• Utilities
• Oil & gas
• Construction
• Manufacturing
• Metal & Mining
• IT and Data centers
• Corporate & Retail
• Events
• Others

Market Size, By Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America