The power rental market is projected to reach USD 20.64 billion by 2022, at a CAGR of 8.49%, from 2017 to 2022. Power rental solutions are required by end-users, such as the utilities, oil & gas, manufacturing, and events sectors, that do not have access to permanent or sufficient grid power to managing peak loads and ensure smooth functioning.
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The events segment is expected to be the fastest growing power rental market, by end-user, from 2017 to 2022. Events are defined as planned public or social occasions and can be classified as musical, sports, and other entertainment activities.
In this study, sporting events have also been considered as part of the market.
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The sports market recorded an expenditure of USD 145 billion in 2015 and is expected to grow at a CAGR of 4% (approximately) over the next five years.
- Power utility providers
- Distributed energy generation solution providers
- Power rental vendors
- Government and industry associations
- State and national regulatory authorities
- Distribution grid operators
- Energy regulatory agencies
- Investors and financial community professionals
- State or government-owned corporations
The 1,501 kW–2,000 kW segment is expected to be the largest power rental market, by power rating. Generators in the 501 kW–2,500 kW power rating category are used in the mining, oil & gas, manufacturing, shipping, and utility sectors.
These generators can be used to provide standby power as well as power during peak shaving.
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The report segments the power rental market, by fuel type, into diesel generators, gas generators, and others. The gas generators segment is estimated to be the fastest growing power rental market, by fuel type, in 2017.
Gas generators run mainly on natural gas and can be found in different sizes, ranging from portable to industrial. They are more efficient and cleaner than diesel generators, thus, helping reduce greenhouse gas emissions.
2 Key Players in the Power Rental Market
3 Growth Strategies in the Power Rental Market
4 Power Rental Market: Competitors’ Ranking, 2016
5 Competitive Situation & Trends
6 Competitive Leadership Mapping
The leading players in the power rental market include Caterpillar, Inc. (U.S.), Aggreko, PLC (U.K.), Cummins, Inc.
(U.S.), United Rentals, Inc. (U.S.), and APR Energy, PLC (U.S.). Contracts & agreements was the most commonly adopted strategy by the top players.
This was followed by new product developments, expansions and investments, and mergers & acquisitions.
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In this report, the power rental market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, Middle East, and Africa. The European market is estimated to be the fastest growing power rental market, from 2017 to 2022.
Factors such as increased power consumption and aging power plants in Europe are driving the power rental market in the region.
Furthermore, a majority of the nuclear power plants in Europe are over 40 years old, thus, increasing the risks of power outages and further driving the demand for power rental solutions.
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