Power Rental Market projected to reach US$35.188 billion by 2030 at a significant CAGR close to 7%

The global power rental market is forecasted to grow at a CAGR of 7.59% between US$24.408 billion in 2025 to US$35.188 billion in 2030.

NOIDA, UTTAR PRADESH, INDIA, December 17, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the global power rental market is projected to grow at a CAGR of 7.59% between 2025 and 2030, reaching US$35.188 billion in 2030.

Power rentals is a process that involves renting or leasing various types of generators, which are powered by gas, diesel, and electricity among others. These power generators offer power to various types of industries and residential facilities during power outages. The power rental solutions offer multiple benefits to organizations, as it reduces the cost of maintenance of equipment, and minimizes the cost of operations. Power rental solutions also offer flexibility to organizations in selecting the type of generators, and reduce the initial investment cost of the companies. Power rental solutions also reduce or eliminate the storage cost of the generators, and help in increasing the capacity when needed.

With the increasing global demand for energy in the corporate sector, the demand for power rental services is also expected to witness significant growth during the forecasted timeline. Similarly, the increasing global urbanizations and development of infrastructure is also expected to boost the demand for power rental services across the global market. Various global companies and organizations have also introduced renewable power rental services in the global market, which is aimed at boosting the adoption of sustainable sources of energy in the corporate sector. For instance, in June 2024, Energy Assets Group Holdings Limited, a global energy solution provider, announced the launch of solar power rental services for various commercial sectors in Britain. Similarly, in June 2022, Cummins, a global manufacturer of engines and power generators, announced the launch of its latest twinpack rental power diesel generator, which consists of 2 15L units, that offer 500kW of electricity generation in single units.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-power-rental-market

The global power rental market, under the fuel segment, is divided into diesel and gas. The diesel category under the fuel segment is expected to witness greater growth in the global power rental market. The diesel power generator is a form of power generator, which generates power on demand using diesel as the fuel. It combines the features of an electric generator with diesel engines. The diesel power generator offers enhanced flexibility over the gas category. Diesel power generators also offer reduced maintenance costs and greater fuel efficiency.

Under the application segment, the global power rental market is categorized into standby, peak shaving, and baseload. The standby power rental category of the application segment in the global power rental market is expected to propel at a significant rate. The standby power generator is a form of power generator that offers back-up to the electrical system in situations of power outage. The standby power generators help protect various types of essential electrical equipment, which requires a continuous power supply and also enhances the reliability of the electrical equipment.

The global power rental market, under the end-user segment, is divided into oil & gas, construction, mining, events, and others. In the end-user segment of the power rental market, the construction segment is expected to witness massive growth. In the construction sector, the power generator plays a critical role in enhancing the capabilities of the construction processes. In the construction sector, the power generator is used for the efficient operations of various types of large machinery and equipment, like material handling and earth-moving equipment.

Based on geography, the Asia Pacific region is expected to witness significant growth in the global power rental market. The Asia Pacific region offers the fastest-growing industrial sector in the global market, which increases the demand for a reliable and continuous power supply. The growth of the construction sector in the region is also expected to boost the demand for the power rental market in the region during the estimated time period.

As a part of the report, the major players operating in the global power rental market that have been covered are Wärtsilä, United Rentals Inc., Caterpillar, Sunbelt Rentals Ltd, Wacker Neuson SE, Herc Rentals Inc., Atlas Copco (India) Ltd, Cummins Inc., Aggreko, Generac Power Systems, Inc, Sudhir Power, Modern Energy Rental, Pon Energy Rental, Power Link Energy, and BPC Power Rental.

The market analytics report segments the global power rental market as follows:

• By Fuel

o Diesel
o Gas

• By Application

o Standby
o Peak Shaving
o Baseload

• By End-user

o Oil & gas
o Construction
o Mining
o Events
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Australia
• Others

Companies Profiled:

• Wärtsilä
• United Rentals Inc.
• Caterpillar
• Sunbelt Rentals Ltd
• Wacker Neuson SE
• Herc Rentals Inc.
• Atlas Copco (India) Ltd
• Cummins Inc.
• Aggreko
• Generac Power Systems, Inc
• Sudhir Power
• Modern Energy Rental
• Pon Energy Rental
• Power Link Energy
• BPC Power Rental

Explore More Reports:

• Power And Control Cable Market: https://www.knowledge-sourcing.com/report/power-and-control-cable-market
• Global Power Metering Market: https://www.knowledge-sourcing.com/report/global-power-metering-market
• Power Supply Market: https://www.knowledge-sourcing.com/report/power-supply-market

Ankit Mishra
Knowledge Sourcing Intelligence
+ +1 850-250-1698
info@knowledge-sourcing.com
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