The power Rental or power hiring market comprises renting power equipment over purchase due to initial cost-benefit and low to no maintenance cost. Most industries prefer to rent power equipment due to flexibility in power rating, lack of power grid infrastructure, and high availability of rental equipment, specifically the mining industry based on their remote location of servicing. Other utilities include fulfilling demand on peak power load, temporary power requirement, weak power supply, generator maintenance, and others.
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The growth in the power rental market is driven by rising electrification and power demand specifically in growing economies due to increasing investment in infrastructure development and rapid urbanization. Also, a trend to electrify industrial processes attributed to several country's net-zero goals has stimulated the demand. For instance, according to the International Energy Agency, global electricity demand is expected to rise at a faster rate over the next three years, growing by an average of 3.4% annually through 2026. The gains will be driven by an improving economic outlook, which will contribute to faster electricity demand growth both in advanced and emerging economies. Particularly in advanced economies and China, electricity demand will be supported by the ongoing electrification of the residential and transport sectors, as well as a notable expansion of the data center sector. The share of electricity in final energy consumption is estimated to have reached 20.0% in 2023, up from 18.0% in 2015.
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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others
Global Power Rental Market Report Segment
By End User
Telecom And Data Center
Oil & Gas
Utilities
Manufacturing
Mining And Construction
Others (Offshore, Healthcare, Marine)
By Power Rating
UP TO 50 kw
51 –500 kw
501 –2,500 kw
Above 2,500 kw
By Fuel
Diesel
Gas
By Application
Standby
Peak Shaving
Prime/Continuous
Global Power Rental Market Report Segment by Region
North America
United States
copyright
Europe
UK
Germany
Italy
Spain
France
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
Middle East and Africa
The Report Covers
Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global power rental market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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