PUBLISHER: The Business Research Company | PRODUCT CODE: 1678268
PUBLISHER: The Business Research Company | PRODUCT CODE: 1678268
Power Rental Global Market Report 2025
Power rental is a service that enables the temporary leasing of equipment for providing either prime or standby power as required. Generator sets, load banks, and electrical distribution systems are commonly rented for power needs.
The primary components of power rental equipment comprise generators, transformers, load banks, and other related devices. Generators serve as devices that supply electrical power during power outages, ensuring uninterrupted continuity of daily activities and business operations. Standby power, peak shaving, and base load/continuous power represent the primary applications of this equipment. Various fuel types, such as diesel, natural gas, and others, are employed to operate power rental equipment, catering to diverse end-user segments, including utilities, oil & gas, construction, manufacturing, metal & mining, IT and data centers, corporate & retail, events, and others.
The power rental market research report is one of a series of new reports from The Business Research Company that provides power rental market statistics, including the power rental industry global market size, regional shares, competitors with a power rental market share, detailed power rental market segments, market trends and opportunities, and any further data you may need to thrive in the power rental industry. This power rental market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The power rental market size has grown rapidly in recent years. It will grow from $12.11 billion in 2024 to $13.34 billion in 2025 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to construction and infrastructure development, utility power shortages, events and entertainment industry, remote and off-grid locations, increased mining operations.
The power rental market size is expected to see rapid growth in the next few years. It will grow to $19.76 billion in 2029 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to smart cities development, healthcare infrastructure expansion, military operations, data center construction, global events and exhibitions. Major trends in the forecast period include rental generator technologies, mobile and modular power units, flexible rental contract models, energy efficiency and emissions reduction, remote monitoring and telematics integration.
The rapid pace of industrialization is fueling the growth of the power rental market. Rapid industrialization signifies a swift transition of an economy from an agriculture-based focus to one centered on manufacturing. This transformation has led to advancements across various sectors, including information technology, manufacturing, and construction, all of which necessitate a continuous supply of power to operate effectively. For instance, in July 2023, Eurostat, a Luxembourg-based government statistical agency, reported a 0.2% increase in industrial output in the European area, with a 0.1% rise noted in the European Union from May to April 2023. Consequently, the demand for power rental services is expected to increase alongside the ongoing rapid industrialization and heightened investment in infrastructure development in major developing nations.
The power rentals market is expected to experience growth driven by the expanding construction industry. Construction involves the process of creating or assembling infrastructure, buildings, and other structures. Power rentals in the construction sector offer temporary and scalable power solutions, ensuring an uninterrupted energy supply for construction sites and equipment, thereby enhancing project efficiency and productivity. As of December 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, construction spending reached a seasonally adjusted annual rate of $2,027.1 billion, marking a 0.6% (+-1.0%) increase from the revised September estimate of $2,014.7 billion. The October figure also reflects a 10.7% (+-1.6%) rise compared to October 2022's estimate of $1,830.5 billion. With construction spending in the first ten months of the year totaling $1,646.0 billion, a 5.6% (+-1.2%) increase from the same period in 2022, the growing construction industry emerges as a significant driver for the power rentals market.
Major companies in the power rentals market are increasingly focusing on launching new products to secure a competitive advantage. For example, in February 2023, Caterpillar Inc., a US-based construction company, introduced the Cat XQ330 mobile diesel generator set. This generator is designed for both standby and prime applications, offering low emissions and high performance. Equipped with the efficient Cat C9.3B engine, it operates quietly and boasts a durable, weather-resistant design that facilitates easy transport and maintenance. Additionally, its advanced EMCP 4.4 control panel enhances reliability and flexibility, making it an ideal solution for diverse power requirements.
Key players in the power rentals market are increasingly emphasizing the introduction of high-performance twin-pack diesel generators to enhance their competitive advantage. A twin-pack diesel generator is a power generation system comprising two diesel generators operating in parallel or as a pair, working collaboratively to provide a higher combined power output. In June 2022, Cummins Inc., a US-based engineering company, launched the C1000D6RE, a 1 MW twin-pack rental power diesel generator. This innovative generator is tailored to provide a competitive rental power solution for diverse applications, including construction sites, emergency power, large-scale events, industrial buildings, and utilities in remote or urban areas. The generator integrates two Cummins 15L, 500 kW generators into a single 40-foot power unit, catering to the needs of large-scale industries and various mobile power requirements.
In January 2022, Herc Rentals, a US-based rental company specializing in equipment and tool rentals for construction and industrial applications, successfully acquired Temp-Power Inc. for an undisclosed amount. Through this strategic acquisition, Herc Rentals aims to leverage the rental solutions provided by Temp-Power. Temp-Power, based in Virginia, specializes in portable and towable generators, light towers and balloons, power distribution, on-site diesel fuel delivery, temperature control (AC, heat, dehumidifiers), utility vehicles/golf carts, and on-site technicians.
Major companies operating in the power rental market include Caterpillar Inc., Cummins Inc., Atlas Copco AB, United Rentals Inc., Ashtead Group plc, Kohler Co, Wartsila Oyj, Generac Power Systems Inc., Herc Rentals Inc., Hertz Equipment Rental Corporation, Wacker Neuson SE, Aggreko plc, Multiquip Inc., APR Energy Ltd., FG Wilson (Engineering) Ltd., Smart Energy Solutions Ltd., Modern Hiring Service Ltd., Speedy Hire plc, Power Electrics Bristol, Rental Solutions & Services, Bredenoord Exploitatiemij B.V., Pump Power Rental, Global Power Supply Ltd., Jassim Transport & Stevedoring Co K.S.C.C., Newburn Power Rental Ltd., ProPower Rental, Shenton Group plc, So Energy Trading Limited
Asia-Pacific was the largest region in the power rental market in 2024. North America is expected to be the fastest-growing region in the power rental market share during the forecast period. The regions covered in the power rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the power rental market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The power rental market includes revenues earned by entities by providing services such as generator rental services and cooling equipment rental services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Scope
Table of Contents
1. Executive Summary
2. Power Rental Market Characteristics
3. Power Rental Market Trends And Strategies
4. Power Rental Market - Macro Economic Scenario Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics And Covid And Recovery On The Market
5. Global Power Rental Growth Analysis And Strategic Analysis Framework
- 5.1. Global Power Rental PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
- 5.2. Analysis Of End Use Industries
- 5.3. Global Power Rental Market Growth Rate Analysis
- 5.4. Global Power Rental Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
- 5.5. Global Power Rental Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
- 5.6. Global Power Rental Total Addressable Market (TAM)
6. Power Rental Market Segmentation
7. Power Rental Market Regional And Country Analysis
8. Asia-Pacific Power Rental Market
9. China Power Rental Market
10. India Power Rental Market
11. Japan Power Rental Market
12. Australia Power Rental Market
13. Indonesia Power Rental Market
14. South Korea Power Rental Market
15. Western Europe Power Rental Market
16. UK Power Rental Market
17. Germany Power Rental Market
18. France Power Rental Market
19. Italy Power Rental Market
20. Spain Power Rental Market
21. Eastern Europe Power Rental Market
22. Russia Power Rental Market
23. North America Power Rental Market
24. USA Power Rental Market
25. Canada Power Rental Market
26. South America Power Rental Market
27. Brazil Power Rental Market
28. Middle East Power Rental Market
29. Africa Power Rental Market
30. Power Rental Market Competitive Landscape And Company Profiles
31. Power Rental Market Other Major And Innovative Companies
32. Global Power Rental Market Competitive Benchmarking And Dashboard
33. Key Mergers And Acquisitions In The Power Rental Market
34. Recent Developments In The Power Rental Market
35. Power Rental Market High Potential Countries, Segments and Strategies
36. Appendix
