Power Rental Systems Market

Power rental systems can be defined as the power generators, load banks, and transformers that offer the facility of temporarily renting power for supplying energy to industrial units. They are used in various industrial and commercial applications for coping with brief shortages of power and provides additional energy to industries and support communities. Power rental system offers higher flexibility, reliability, speed, and cost-effectiveness to businesses and is extensively used across industries in numerous situations including planned power shutdowns, sudden power shutdown, seasonal changes in power demand, additional power for events, power demand in new construction, and extension sites.

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The key factors driving the growth of the power rental systems market include growing industrial and commercial sectors, coupled with the increasing demand for a source of backup power supply in order to avoid downtime losses in industrial operations across the globe. Power rental systems is expected to find huge growth opportunities in industrial and commercial application as a source of backup power supply owing to their remote monitoring and fully automatic synchronisation. They are used for various applications areas including disaster relief recovery, remote location construction projects, newly built facilities, law enforcement endeavours, and mining camps.  Additionally, access to a higher standard of equipment, alternate power provider at the time of low power supply, paying for the asset over the fixed period of time, and easy upgrading or replacing the equipment are some of the factors propelling the demand of the rental power systems in industrial and commercial sectors.

Moreover, the growing electricity consumption and increasing demand for momentary electricity supply sources at times of festivals, events, and fairs is expected to escalate the growth of this market during the forecast period. Limited access to electricity in rural areas and increase in power loss due to aging infrastructure are further propelling the market in the developing countries across the world. However, rising environmental concerns and uncertainty in the prices of raw materials are the major factors that are expected to hamper growth of the market in the near future. The recent outbreak of the COVID 19 is expected to have a significant impact on the construction and manufacturing sectors, thereby having a negative impact on the market growth of power rental systems during the forecast period.

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Based on fuel, the market is segmented into diesel, gas, and others. The diesel segment is anticipated to grow at a higher CAGR in the market owing to the longer running time and less maintenance of diesel based power generators, which in turn, increases the demand for fuel. Moreover, the surging demand for diesel power generators across various industrial segments including construction, marine, mining, hospital, forestry, telecommunications, utility, and agriculture as standby backup power is one of the major key drivers of the market. Various beneficial properties including quick start up time, prolonged durability, fast ramp-up, and easy availability of diesel generators across the globe are attracting many end-users into the market.

Based on Equipment, the market is segmented into generator, load banks, transformer, and others. The load banks segment is forecasted to grow at a higher CAGR during the forecast period. This is attributed to the growing use of load banks for maintenance, commissioning and testing of electrical circuits for proper function. Load banks are processed to assess capabilities of generators and verify all genset components are in optimal working condition under different loads. This factor is anticipated to boost the demand of the market during the forecast period.

Based on power rating, the market is segmented into Up to 50 kW, 51 –500 kW, and 501 –2,500 kW. The market for power ratings of 501 –2,500 kW segment is expected to witness faster CAGR during the forecast period owing to the growing demand for high power diesel generators in power, utility, manufacturing, healthcare, water and waste water treatment plants, government facilities, mining, large commercial buildings, and marine industries, where continuous power supply is required. Installation of high power diesel generators of power rating 501 –2,500 kW for power generation and distribution across off-grid remote areas, for large office complexes, factories, and other industrial facilities  as a standby backup to grid power, to provide emergency backup, and peak shaving are further propelling the market growth.

Based on application, the market is segmented into peak shaving, standby power, and base load. The peak shaving segment is expected to dominate the market owing to the growing utilization of a generator system to supply electrical loads for short periods of time when loads on utilities are significantly above average. Additionally, rental power generators help in reducing shave power consumption from the grid and in keeping costs down during peak times, which will further stimulate the growth of the market.

Based on end user, the market is segmented into utilities, oil & gas, mining, manufacturing, construction, events, shipping, data centre, and others. The construction end use segment is estimated to acquire higher CAGR over the forecast period. This is mainly due to the huge temporary power requirements in the construction sector as most of the equipment involved is heavy duty. The strong demand for constructional equipment including air compressor, hand drills, battery chargers, lights, chain saws, circular saws, and electric welders that run on electricity is further expected to escalate the demand of the market. Moreover, use of laptops and mobiles by engineers at the site, temporary accommodation of working staffs, remote sites of construction that cannot avail grid supply are some of the factors further propelling the growth of the power rental system market.

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Based on region, Asia-Pacific region is anticipated to witness a higher CAGR in the power rental systems market during the forecast period. The increasing power consumption owing to rising population and growing industrialization in the developing countries including India, China, Sri Lanka, Indonesia, and South Korea, are the major drivers that are surging the growth of the market in this region. Additionally, the presence of the construction and oil and gas industries in the region is further propelling the demand of power rental systems, thereby, driving the growth of the market in the region.

Various notable players operating in the global Power Rental Systems market include Aggreko, Atlas Copco AB, United Rentals, Inc., Caterpillar Inc., Herc Rentals Inc., Cummins Inc., Ashtead Group Plc., Atlas Corporation, Al Faris, and Kohler Co., among other.

 Key Developments: 

• • In 2019, Wartsila Corporation entered into a cooperation agreement with UK based company Aggreko, which provides modular power, temperature control, and energy services. With this partnership, Wartsila Modular Block solution, a new redeployable power generation solution has been introduced in the power rental system market. It features medium-speed Wärtsilä 32 and 34 engines which can run on a variety of fuels including natural gas, as well as biofuel. It can be used to accommodate increased energy needs and highly suitable for temporary power generation.
  • In 2018, Aggreko formed a joint venture with the acquisition of 21.5% share of Shanghai Yude, a company offering power rental equipment to industries, including events and construction in China. With this joint venture, both the companies will be benefited by enhancing the product portfolio and strengthening the customer reach in the Chinese power rental market.
  • United Rentals, Inc. acquired BlueLine Rental, LLC, an equipment rental company that serves more than 50,000 customers in the construction and industrial sectors in North America. This acquisition will help United Rentals, Inc. in expanding equipment rental capacity in the metropolitan areas in North America, including U.S. coasts, the Gulf South and Ontario. Additionally, the company has also gained a well-diversified customer base in commercial, construction, and industrial sectors with over 46,000 rental assets and 114 branch locations.

The global power rental systems market has been segmented on the basis of fuel, equipment, power rating, application, end user, and region. Based on fuel, the market is segmented into diesel, gas, and others including HFO, dual fuel, and hybrid. Based on Equipment, the market is segmented into generator, load banks, transformer, others. Based on power rating, the market is segmented into Up to 50 kW, 51 –500 kW, and 501 –2,500 kW. Based on application, the market is segmented into peak shaving, standby power, and base load. Based on end user, the market is segmented into utilities, oil & gas, mining, manufacturing, construction, events, shipping, data centre, and others.

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Key questions answered in this research report:

• • At what pace is global Power Rental Systems market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Power Rental Systems market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Power Rental Systems market?
  • Which fuel type generated maximum revenues in 2019 and identify the most promising fuel type during the forecast period?
  • What are the various applications of global Power Rental Systems market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Fuel Type, By Equipment, By Power Rating, By Application, By End User, and  By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Aggreko, Atlas Copco AB, United Rentals, Inc., Caterpillar Inc., Herc Rentals Inc., Cummins Inc., Ashtead Group Plc., Atlas Corporation, Al Faris, and Kohler Co. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Power Rental Systems Market by Fuel Type

• • Diesel
  • Gas
  • Others

Global Power Rental Systems Market by Equipment

• • Generator
  • Load Banks
  • Transformer
  • Others

Global Power Rental Systems Market by Power Rating

• • Up to 50 kW
  • 51 –500 kW
  • 501 –2,500 kW

Global Power Rental Systems Market by Application

• • Peak Shaving
  • Standby Power
  • Base Load

Global Power Rental Systems Market by End user

• • Utilities
  • Oil & Gas
  • Mining
  • Manufacturing
  • Construction
  • Events
  • Shipping
  • Data Centre
  • Others

Global Power Rental Systems Market by Region

• • North America Power Rental Systems Market (Option 1: As a part of the free 25% customization)
    • North America Power Rental Systems Market by Fuel Type
    • North America Power Rental Systems Market by Equipment
    • North America Power Rental Systems Market by Power Rating
    • North America Power Rental Systems Market by Application
    • North America Power Rental Systems Market by End User
    • US Power Rental Systems Market All-Up
    • Canada Power Rental Systems Market All-Up
  • Europe Power Rental Systems Market (Option 2: As a part of the free 25% customization)
    • Europe Power Rental Systems Market by Fuel Type
    • Europe Power Rental Systems Market by Equipment
    • Europe Power Rental Systems Market by Power Rating
    • Europe Power Rental Systems Market by Application
    • Europe Power Rental Systems Market by End User
    • UK Power Rental Systems Market All-Up
    • Germany Power Rental Systems Market All-Up
    • France Power Rental Systems Market All-Up
    • Spain Power Rental Systems Market All-Up
    • Rest of Europe Power Rental Systems Market All-Up
  • Asia-Pacific Power Rental Systems Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Power Rental Systems Market by Fuel Type
    • Asia-Pacific Power Rental Systems Market by Equipment
    • Asia-Pacific Power Rental Systems Market by Power Rating
    • Asia-Pacific Power Rental Systems Market by Application
    • Asia-Pacific Power Rental Systems Market by End User
    • China Power Rental Systems Market All-Up
    • India Power Rental Systems Market All-Up
    • Japan Power Rental Systems Market All-Up
    • Rest of APAC Power Rental Systems Market All-Up
  • RoW Power Rental Systems Market (Option 4: As a part of the free 25% customization)
    • RoW Power Rental Systems Market by Fuel Type
    • RoW Power Rental Systems Market by Equipment
    • RoW Power Rental Systems Market by Power Rating
    • RoW Power Rental Systems Market by Application
    • RoW Power Rental Systems Market by End User
    • Brazil Power Rental Systems Market All-Up
    • South Africa Power Rental Systems Market All-Up
    • Saudi Arabia Power Rental Systems Market All-Up
    • UAE Power Rental Systems Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Power Rental Systems Market All-Up

Global Power Rental Systems Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Aggreko
  • Atlas Copco AB
  • United Rentals, Inc.
  • Caterpillar Inc.
  • Herc Rentals Inc.
  • Cummins Inc.
  • Ashtead Group Plc.
  • Atlas Corporation
  • Al Faris
  • Kohler Co.