Power Rental Market, By Application (Orange, Eucalyptus, Corn Mint, Peppermint, Citronella, Lavender, Lemon, Clover Leaf, Spearmint, and Others), By End-Use (Flowers, Fruits & Vegetables, Herbs & Spices), By Method of Extraction (Cold Press Extraction, Carbon Dioxide Extraction, Distillation, and Others), By Application (Food & Beverages, Medical, Home Care, Cosmetics, Spa & Relaxation, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Power Rental Market was valued at USD 11 Billion in 2024 and is projected to grow at a CAGR of 7.00% to reach USD 20.3 Billion by 2034.

Power rental companies offer a wide range of power generation equipment, such as diesel generators, gas generators, natural gas generators, and mobile power plants. These generators come in various sizes and capacities to meet different power requirements. Power Rental offers a versatile and cost-effective alternative to organizations and individuals who demand power on a temporary or short-term basis. Specialized companies that own and operate a fleet of power generation equipment generally provide power rental services.

The global demand for electricity continues to rise due to population growth, urbanization, and industrialization. Power Rental Market services provide a quick and flexible solution to meet temporary or additional power needs during peak demand periods, planned maintenance, or unexpected outages. Infrastructure projects, such as construction, transportation, and energy sectors, often require temporary power supply during the development phase. The expansion of these industries is likely to drive the demand for power rental services.  

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Increasing Power Demand

Rapid urbanization and ongoing infrastructure projects, such as construction of buildings, roads, bridges, and other facilities, require temporary power supply during the construction phase. Power rental services provide a flexible and efficient solution to meet these short-term power needs. The expansion of the events and entertainment industry, including music festivals, concerts, sports events, trade shows, and corporate gatherings, demands reliable power supply to support the lighting, sound systems, and other equipment necessary for these large-scale events.  

Restrains:

Power rental companies may face increased costs to comply with stringent environmental regulations. Investing in more environmentally friendly generators or retrofitting existing equipment to meet emission standards can be expensive. Environmental regulations can vary significantly from one region to another, making it challenging for power rental companies to operate across multiple jurisdictions. Complying with different sets of regulations may increase administrative burdens and costs.  

Power Rental Market is segmented based on Application, End-Use and Region.

Application Insight

On the basis of Application, Power Rental Market is segmented into Peak Shaving, Continuous Power, and Standby Power. Peak Shaving is expected to dominate the target market growth peak shaving involves using power rental solutions during peak demand periods to offset high electricity consumption and reduce peak power charges from utility providers.    

End-Use Insights

On the basis of End-Use, Power Rental Market is segmented into Government, Oil and Gas, Construction, Industrial, Events, and Others. Construction are expected to dominate the target market growth as the construction industry is one of the primary users of power rental services. Construction sites often require a temporary and reliable power supply to run tools, equipment, site offices, and other electrical systems. Power rental companies provide generators and related equipment to meet the varying power demands of construction projects, which can range from small-scale residential developments to large-scale infrastructure projects.

Regional Insights:

On the basis of region the Power Rental Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected to witness significant revenue growth in the Power Rental market in the coming years. The power rental market in North America is highly competitive, with numerous established players and regional service providers. Some of the major players in the region include United Rentals, Aggreko, Herc Rentals, Sunbelt Rentals, and Caterpillar Inc., among others. In North America, power leasing services are used in a variety of industries, including construction, events and entertainment, oil and gas, industry, utilities, government, telecommunications, data centers, and emergency response.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Power Rental Market report based on Application, End-Use and Region:

Power Rental Market, By Application:

• Peak Shaving
• Continuous Power
• Standby Power

Power Rental Market, By End-Use:

• Government
• Oil and Gas
• Construction
• Industrial
• Events
• Others

Power Rental Market, By Region:

• North America
  • Middle East & Africa
    • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • U.S.
    • Canada

The key players operating the Power Rental Market includes, Aggreko PLC., Caterpillar Inc., Ashtead Group PLC., Cummins Inc., Atlas Copco CB, Speedy Hire PLC, Kohler Co., Hertz Corporation, Soenergy International Inc., and Rental Solutions & Services LLC.

• In July 2019, Godrej Material Handling, a division of Godrej & Boyce Mfg. Co. Ltd., has introduced Godrej RenTRUST, a new equipment rental brand that will provide customers with 360-degree solutions that include manpower, machine, fuel, and maintenance. In the material handling business, capital expenditure on equipment accounts for only 13% of total cost of ownership (TCO) to the consumer. The new rental solutions brand Godrej RenTRUST will address the remaining 87% of the TCO pie. The organization is consistently at the forefront of innovation, using cutting-edge technologies to provide our customers with best-in-class solutions. Customers will receive end-to-end solutions from Godrej RenTRUST.

• Aggreko PLC.
• Caterpillar Inc.
• Ashtead Group PLC.
• Cummins Inc.
• Atlas Copco CB
• Speedy Hire PLC
• Kohler Co.
• Hertz Corporation
• Soenergy International Inc.
• Rental Solutions & Services LLC.