The power rental market involves renting or leasing of generators, temporary power equipment and power distribution equipment on a short-term basis to fulfill the power needs of various applications and events. The rental power equipment find usage in various construction projects, mining activities, power utilities, events and other industrial applications which require temporary or backup power supply.
The Power Rental Market Demand is gaining traction owing to increasing infrastructure projects in both developed and developing nations. These infrastructure projects majorly include construction of roads, buildings, transport systems, power plants, oil & gas infrastructure and other public utilities which witness a surge in demand for rented power equipment to fulfill their temporary power needs at jobsites and during the construction phase.
The global power rental market is estimated to be valued at US$ 23 Billion in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024-2030.
Key Takeaways
Key players operating in the power rental market are Aggreko, Caterpillar, United Rentals, Atlas Copco, Cummins, etc.
Power Rental Companies of power plants in remote areas which require rental power equipment for construction.
The power rental market is expanding globally with growth opportunities arising across North America, Asia Pacific, Middle East & Africa. The large infrastructure spending and power projects in China, India and other developing Asian countries will propel the power rental demand.
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