Selbyville, Delaware, Nov. 29, 2022 (GLOBE NEWSWIRE) --
The power rental market is expected to record a valuation of USD 24 billion by 2032, according to a new research report by Global Market Insights Inc. Growing consumer awareness along with the increasing requirement for zero downtime and increased reliability will drive the use of power rental facilities. Furthermore, the rising global population, in addition to a higher standard of living, has amplified power-related investments across the real estate sector. Additionally, the extensive investment by the private and public players to expand data center infrastructure will also foster the demand for rental power equipment, such as generators.
Power rental market from diesel fuel segment accounted for around USD 11 billion in 2022. This growth is credited to the rising demand for uninterrupted power supply in the commercial sector. Diesel is easily available round-the-clock and has the potential to reduce up-front costs, making it a preferred fuel in power units. Since the equipment is utilized in various sectors such as telecom, educational institutions, and others, the demand for diesel-powered rental power generators is set to rise considerably over the approaching years.
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Peak shaving application segment in the power rental market is slated to depict more than 4% growth rate between 2023 to 2032. The rising instances of hurricanes and cyclones have increased the number of power outages. These natural disasters, coupled with the growing usage of electronic devices, have increased the cost of electricity during peak hours. Peak shaving generators generally represent a costlier price index in comparison to backup units of similar capacities. The advanced machinery to handle heat generation and friction for long-time usage is thus expected to proliferate demand for rental power equipment.
North American region held over 26% of the global power rental market share in 2022. Frequent occurrences of weather-related disasters have increased power outages in the region. This has severely affected the data center infrastructure, rising the demand for alternate power sources. These instances have increased consumer awareness of reliable backup power solutions, thereby propelling the installation of power rental systems across the region.
Leading participants operating in the power rental market are Atlas Copco AB, Caterpillar, United Rentals, Inc., Cummins Inc., Aggreko, Generac Power Systems, Inc., Herc Rentals Inc., Shenton Group, Brede Noord, Perfect Hiring Services, APR Energy, HIMOINSA, Wartsila, and Sudhir Power. These leaders are undertaking important initiatives that will benefit consumers and allow them to expand their footprint in the global market.
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Partial Table of Contents (ToC) of the report:
Chapter 3 Power Rental Market Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 COVID- 19 impact on the industry outlook
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.1.1 North America
3.4.1.1.1 Increasing intensity & frequency of weather-related disasters
3.4.1.1.2 Escalating data center outage costs
3.4.1.1.3 Growing demand for uninterrupted power supply
3.4.1.2 Europe
3.4.1.2.1 Flourishing real estate sector
3.4.1.2.2 Expansion of the datacenter industry
3.4.1.2.3 Favorable regulatory policies to boost investment
3.4.1.3 Asia Pacific
3.4.1.3.1 Rapid industrialization & infrastructure development
3.4.1.3.2 Burgeoning expansion in the telecom & construction sector
3.4.1.1 Africa
3.4.1.1.1 Unreliable grid infrastructure coupled with rapid population growth
3.4.1.1.2 Ongoing construction boom
3.4.2 Industry pitfalls & challenges
3.4.2.1 Stringent government regulations toward diesel-based equipment
3.4.2.2 Shifting trends toward renewable power generation
3.5 Growth potential analysis
3.6 Porter's Analysis
3.7 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
