The Global Power Rental Systems Market size is expected to reach $32 billion by 2026, rising at a market growth of 8.9% CAGR during the forecast period. Power rental systems are back-up systems that are facilitated to several industries in the course of power suspension in order to keep operations running. Power rental systems are mostly used as a substitute power provider during low power supply. In addition to it, these rental systems also provide peak shaving that allows industries to distribute the electrical load equally during peak and non-peak hours. These systems are mainly used in incipient countries because power consumption is more due to the rising population and the growing adoption of smart grid systems.
The growing demand for power-based systems in both commercial and industrial applications is a prime factor that is likely to drive the growth of the market across the world in the coming years. In addition to it, increasing awareness of restricted power consumption all through non-peak and peak hours is another factor anticipated to support the growth of the market. Furthermore, increasing demand for a temporary supply of power source especially at the time of festivals, fairs, and other events is likely to drive the market growth in the near future. Moreover, growing focus towards declining peak power consumption to decrease electricity cost is the major factor that is anticipated to support the growth of the market.
Moreover, these systems also act as a stand-in power supply in periods of unplanned power losses. Enticements and schemes by the authorities of government, such as feed-in-tariff, in the regions like the Asia Pacific, and North America are likely to boost the demand for DEG systems. Schemes announced by the government are aiming to validate the setting up of such rental systems in the commercial, industrial, and residential applications. These power rental systems can also function off-grid as well as on-grid contingent on their locations and also the applications. Numerous benefits of circulated energy generation compared to conventional sources of power generation are likely to boost the market.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 19.9 Billion |
| Market size forecast in 2026 | USD 32 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 8.9% from 2020 to 2026 |
| Number of Pages | 185 |
| Number of Tables | 294 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competition Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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The economy of the world has been hit hard by the outbreak of the novel coronavirus. The virus was first acknowledged in China in December 2019 and ever since it has become a health threat for the world. As per the World Health Organization (WHO), the COVID-19 has affected 140 countries and has also begun lockdowns in a few countries this has resulted in limiting industrial growth. Though, the constant demand for new projects in order to answer the crisis such as the healthcare sector will certainly have an impact on the market outlook.
Free Valuable Insights: Global Power Rental Systems Market to reach a market size of $32 Billion by 2026
Based on Application, the market is segmented into Continuous Power, Peak Shaving and Standby Power. Based on End User, the market is segmented into Government & Utilities, Construction, Event Management, Oil & Gas, Industrial and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Acquisitions and Partnerships. Based on the Analysis presented in the Cardinal matrix; Atlas Copco AB, Cummins, Inc., and Caterpillar, Inc. are the forerunners in the Power Rental Systems Market. Companies such as Aggreko PLC, Kohler Co., and United Rentals, Inc., Herc Holdings, Inc., and Ashtead Group PLC are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Caterpillar, Inc., Atlas Copco AB, Hertz Global Holdings, Inc., Ashtead Group PLC, Cummins, Inc., United Rentals, Inc., Herc Holdings, Inc. (Herc Rentals, Inc.), Aggreko PLC, AI Faris Group and Kohler Co.
» Partnerships, Collaborations, and Agreements:
» Acquisition and Mergers:
» Product Launches and Product Expansions:
Market Segmentation:
By Application
By End-User
By Geography
Companies Profiled
The power rental systems market is projected to reach USD 32 billion by 2026.
The major factors that are anticipated to drive the power rental systems industry include increased dependency on renewable source of energy.
The government and utility segment has the largest share in the year 2019.
Caterpillar, Inc., Atlas Copco AB, Hertz Global Holdings, Inc., Ashtead Group PLC, Cummins, Inc., United Rentals, Inc., Herc Holdings, Inc. (Herc Rentals, Inc.), Aggreko PLC, AI Faris Group and Kohler Co.
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