PUBLISHER: Grand View Research | PRODUCT CODE: 1575218
PUBLISHER: Grand View Research | PRODUCT CODE: 1575218
The global power rental market size was estimated at USD 10.48 billion in 2023 and expected to grow at a CAGR of 6.1% from 2024 to 2030. The market growth is driven by several key factors, making it an essential component in various industries. One of the primary drivers is growing demand for uninterrupted power supply. Many industries, particularly in developing regions, face frequent power outages or lack of reliable grid infrastructure. Power rental solutions offer a flexible and quick alternative to ensure continuous operations in sectors like construction, manufacturing, and oil & gas. With increasing reliance on these industries, the demand for temporary power solutions continues to grow.
Another significant driver is the expansion of construction and infrastructure projects worldwide. Rapid urbanization, particularly in emerging economies, is pushing governments and private entities to invest heavily in infrastructure development. From building highways to setting up temporary workstations, construction sites often require temporary power solutions, especially in remote or grid-limited areas. The ability to rent power equipment tailored to the project's needs, without the long-term commitment of ownership, is attractive to businesses in this space.
Global Power Rental Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented power rental market report on the basis of fuel type, equipment, end user, and region: