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The Business Research Company's Power Rental Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The power rental market has expanded significantly. It is anticipated to rise from $10.99 billion in 2023 to $12.13 billion in 2024 at a CAGR of 10.4%. Growth factors in recent years include construction and infrastructure projects, power shortages, event industry needs, off-grid locations, and increased mining operations.
How Much Will the Global Power Rental Market Grow, and What Is the Predicted Annual Growth Rate?
The power rental market is expected to grow strongly, attaining $17.71 billion by 2028 with a CAGR of 9.9%. Growth is fueled by smart cities, military needs, and data centers. Trends involve modular power units, flexible rentals, and emissions reduction technology.
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What Are The Top Drivers Contributing To The Growth Of The Power Rental Market?
Industrialization is driving the power rental market. Sectors like IT, manufacturing, and construction require reliable power, boosting demand for rental solutions to ensure uninterrupted operations.
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Which Companies Are Leading Growth in the Power Rental Market?
Major companies operating in the market report are Caterpillar Inc., Cummins Inc., Atlas Copco AB, United Rentals Inc., Ashtead Group plc, Kohler Co, Wärtsilä 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.
What Are the Key Trends Defining the Power Rental Market Size ?
Partnerships and collaborations are emerging trends in the power rental industry. Companies are forming alliances to expand their reach by leveraging each other's resources.
What Are The Key Segments Of The Global Power Rental Market?
1) By Equipment: Generators, Transformers, Load Banks, Other Equipments
2) By Application: Standby Power, Peak Shaving, Base Load/Continuous Power
3) By Fuel Type: Diesel, Natural Gas, Other Fuel Types
4) By End-Users: Utilities, Oil And Gas, Construction, Manufacturing, Metal And Mining, IT And Data centers, Corporate And Retail, Events, Other End-Users
Geographical Highlights: Asia-Pacific Leading Power Rental Market
Asia-Pacific was the largest region in the power rental market in 2023. North America is expected to be the fastest-growing region in the market share during the forecast period. The regions covered in the power rental report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Scope Of The Power Rental Market Overview?
Power rental refers to a service that enables the leasing of equipment to provide temporary prime or standby power as needed. Commonly rented items include generator sets, load banks, and electrical distribution systems.
The Power Rental Global Market Report 2024 from The Business Research Company includes the following key information:
. Market size data for both historical and future periods
. Analysis of both macro and microeconomic factors that have impacted the market over the past five years
. Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
. Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Power Rental Market Report: Trends, Opportunities, Strategies, and More
The Power Rental Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into power rental market size, power rental market drivers and trends, power rental global market major players, power rental competitors' revenues, power rental global market positioning, and power rental market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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