Online Learning is fastest growing segment fueling the growth of the global Power Rental Market

Lucy Kart

Online Learning is fastest growing segment fueling the growth of the global Power Rental Market

The global Power Rental Market is estimated to be valued at US$ 6.19 Billion in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The power rental market involves renting portable generators and power systems on a short-term basis to fulfill temporary or intermittent power needs. These products find applications in construction, mining, oil & gas, utilities, and events requiring power backup.

Market key trends:

Rise in power outages due to aging grid infrastructure and weather events has boosted the demand for rental power solutions. Power rental systems offer a reliable and cost-effective way to ensure uninterrupted power supply during outages. They also help minimize revenue losses for businesses and institutions caused by power disruptions. Furthermore, growing investments in infrastructure and construction activities in developing nations are augmenting the sales of rental power equipment.

Segment Analysis

The power rental market is segmented by Fuel type, Power rating, Application and End-use. Diesel generators dominate the power rental market due to its widespread availability, high power density, and cost-effectiveness. Diesel generators account for over 60% market share due to its advantages over other fuel types.

Key Takeaways

Global Power Rental Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing demand for reliable and temporary power solutions.

The North America region dominated the power rental market in 2023, accounting for over 35% of the global market share. This is attributed to rising infrastructure development and power outages in the region. The Asia Pacific region is expected to be the fastest growing market during the forecast period owing to rising industrialization and infrastructure development in developing countries of the region.

Key players operating in the power rental market are Aggreko PLC, United Rentals, Inc., APR Energy, PLC, Caterpillar, Inc., Cummins, Inc., Hertz Equipment Rental Corporation, Generac Power Systems, and Rental Solutions & Services, LLC. Aggreko PLC is the global leader in power solutions, supplying power to diverse industries and events worldwide. United Rentals is a leading equipment rental company with over 1,280 rental locations across the world.

Get More Insights on this Topic- https://www.dailyprbulletin.com/power-rental-market-value-analysis-and-outlook/

Lucy Kart

Power Rental for Municipal Services: Empowering Local Government Operations

Ben Wood 2023-07-26

During emergencies such as natural disasters or major power outages, municipalities need immediate access to power to ensure continuity of essential services. According to Coherent Market Insights, the Global power rental market is expected to grow from USD 9. When municipal power grids or substations undergo repairs or enhancements, power rental services provide temporary power solutions to prevent service interruptions for residents and businesses. In conclusion, power rental for municipal services is a critical resource for local government operations. By providing flexible, cost-efficient, and reliable power solutions, power rental services contribute to the smooth functioning and development of local communities.

Emerging Trends in the Power Rental Market: An In-depth Analysis

Steve martin 2023-06-22

This report provides an in-depth analysis of the emerging trends in the power rental market, offering valuable insights into the evolving landscape of this dynamic industry. The power rental market has witnessed significant advancements in recent years, driven by technological innovations and changing customer demands. The report explores key trends that are shaping the Power Rental Market, such as the increasing adoption of hybrid power solutions and the integration of renewable energy sources. Additionally, the report examines the impact of digitalization and the Internet of Things (IoT) on the power rental market. Moreover, the report analyzes the role of emerging markets and new applications in driving the growth of the power rental market.

Global Power Rental Market Is Estimated To Witness High Growth Owing To Increasing Demand for Reliable Power Sources

Pooja salve 2023-08-21

The global Power Rental Market is estimated to be valued at US$ 9. A) Market Overview: The power rental market refers to the renting or leasing of temporary power solutions such as generators, transformers, and load banks for various applications. Additionally, power rental solutions provide a temporary power source during planned or unexpected outages, ensuring essential operations are not disrupted. B) Market Key Trends: The key trend driving the growth of the power rental market is the increasing demand for reliable power sources. D) Key Takeaways: - The Global Power Rental Market Size is expected to witness high growth, exhibiting a CAGR of 5.

Empowering Industries: The Dynamics of the Power Rental Market

Larry Paige 2023-08-01

*Introduction*The power rental market is a critical and rapidly evolving segment in the energy industry, providing temporary power solutions to various sectors worldwide. This report aims to explore the dynamics of the power rental market, focusing on its growth drivers, key players, emerging trends, and potential challenges. Secondly, the rising demand for power in remote and off-grid locations is driving the need for portable and temporary power solutions. *Emerging Trends*The power rental market is witnessing several emerging trends that are shaping its future. *Conclusion*The power rental market plays a crucial role in empowering various industries by providing temporary power solutions during emergencies, remote operations, and renewable energy transitions.

Infrastructure Development Mega Projects Is Anticipated To Openup The New Avanue For Power Rental Market

Lucy Kart 2023-11-06

The power rental market is estimated to be valued at US$ 6. Additionally, increasing instances of natural calamities and power outages have led to growing need of rental power backup among industrial facilities and commercial establishments to avoid business interruptions. Segment Analysis The global power rental market is dominated by diesel generators. Key Takeaways Global Power Rental Market Size is expected to witness high growth, exhibiting CAGR of 5. Key players operating in the power rental market are Aggreko PLC, United Rentals, Inc.

Power Rental Market and the Oil and Gas Industry: A Lucrative Opportunity

Sushil Mahalle's Articles 2023-05-02

The power rental market has a significant presence in the oil and gas industry, providing temporary power solutions for drilling operations, pipeline construction, and refineries. The industry requires a reliable and uninterrupted power supply for critical processes, making power rental an essential service. The growing demand for oil and gas products has created opportunities for the power rental market to expand its services in the industry. With the increasing demand for power solutions, power rental companies are introducing advanced technologies and equipment that are designed to meet the industry's specific requirements, including remote monitoring and control systems, heavy-duty generators, and environmental management systems. Overall, the oil and gas industry presents a lucrative opportunity for power rental companies to expand their services and establish long-term partnerships with industry players. The power rental market has a significant presence in the oil and gas industry, providing temporary power solutions for drilling operations, pipeline construction, and refineries. The industry requires a reliable and uninterrupted power supply for critical processes, making power rental an essential service. The growing demand for oil and gas products has created opportunities for the power rental market to expand its services in the industry. With the increasing demand for power solutions, power rental companies are introducing advanced technologies and equipment that are designed to meet the industry's specific requirements, including remote monitoring and control systems, heavy-duty generators, and environmental management systems.

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