NEW YORK, June 7, 2024 /PRNewswire/ — The global mobile power generation equipment rentals market size is estimated to grow by USD 525.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.9% during the forecast period. Increasing infrastructural activities is driving market growth, with a trend towards shift to gas generators.
Technavio has announced its latest market research report titled Global mobile power generation equipment rentals market 2024-2028
However, increasing competition from microgrids poses a challenge. Key market players include Aggreko Plc, Alta Equipment Group Inc., Ashtead Group Plc, Atlas Copco AB, ATLAS Corp., BigRentz Inc., Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Herc Holdings Inc., PowerPlus, RPC Inc., Siemens AG, The Taylor Group Inc., United Rentals Inc., and Wacker Neuson SE.
Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report
|
Forecast period |
2024-2028 |
|
Base Year |
2023 |
|
Historic Data |
2018 – 2022 |
|
Segment Covered |
Application (Enterprise and Personal), Product (Generator and Turbine), and Geography (North America, APAC, Middle East and Africa, Europe, and South America) |
|
Region Covered |
North America, APAC, Middle East and Africa, Europe, and South America |
|
Key companies profiled |
Aggreko Plc, Alta Equipment Group Inc., Ashtead Group Plc, Atlas Copco AB, ATLAS Corp., BigRentz Inc., Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Herc Holdings Inc., PowerPlus, RPC Inc., Siemens AG, The Taylor Group Inc., United Rentals Inc., and Wacker Neuson SE |
Key Market Trends Fueling Growth
In the mobile power generation equipment rentals market, gas generators are gaining popularity. Reasons include their lower emissions of pollutants like nitrogen oxides, particulate matter, and carbon dioxide, aligning with industry sustainability trends. Gas generators are cost-effective due to lower fuel costs and improved fuel efficiency.
They meet strict environmental standards and noise restrictions, ensuring reliability and legal compliance. Advancements in technology enhance efficiency, reliability, and performance, making gas generators the preferred choice for sectors like events, construction, and emergency response. These factors are expected to fuel market growth during the forecast period.
The Mobile Power Generation Equipment Rental market is experiencing significant growth due to the increasing demand for reliable power sources in various industries. Power generators, towable power, portable power, and solar power are popular rental options. The use of capacitive power and energy storage systems is trending, providing backup power and improving overall efficiency. Renewable energy solutions, such as generators and solar panels, are gaining popularity due to their environmental benefits. T
he construction industry, oil and gas sector, and disaster relief efforts are major consumers of mobile power generation equipment rentals. The market is expected to continue growing, driven by technological advancements and the need for temporary or emergency power solutions.
Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report
Market Challenges
•The mobile power generation equipment rentals market is experiencing a decline due to the increasing adoption of microgrids. These small-scale power systems offer continuous power and reduce the need for rental generators and mobile power plants.
Telecom companies, in particular, are turning to microgrids to power their base transceiver stations in remote locations, reducing operating costs and emissions. The oil and gas industry is also exploring the use of renewable power systems for offshore rigs, further limiting the demand for rental generators.
The Mobile Power Generation Equipment Rentals market faces several challenges. Capacity and availability are key concerns, as organizations require reliable power solutions for various projects and events. The cost of fuel and maintenance adds to the expenses, making affordability a significant challenge. Consistent technology upgrades and the need for eco-friendly solutions are also pressing issues.
Additionally, logistics and transportation can pose challenges due to the size and weight of the equipment. Regulations and compliance with environmental and safety standards are also important considerations. Overall, the market requires innovative solutions to address these challenges and provide cost-effective, efficient, and sustainable power generation options.
For more insights on driver and challenges – Download a Sample Report
Segment Overview
Application
1.1 Enterprise
1.2 Personal
Product
2.1 Generator
2.2 Turbine
Geography
3.1 North America
3.2 APAC
3.3 Middle East and Africa
3.4 Europe
3.5 South America
1.1 Enterprise- The enterprise application market for mobile power generation equipment rentals has experienced significant growth in 2023. Businesses turn to renting equipment for their short-term or remote power needs, enhancing operational efficiency and ensuring uninterrupted operations. Applications include construction sites, large-scale events, and data centers during maintenance or emergencies. Renting offers flexibility, cost-effectiveness, and scalability, making it an attractive alternative for businesses seeking reliable power solutions without large upfront investments. As a result, the mobile power generation equipment rentals market is projected to expand during the forecast period.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Mobile Power Generation Equipment Rentals Market encompasses a range of solutions designed to provide backup power and support outdoor activities, camping, and industrial projects. These equipment include portable power stations, generators with USB ports and solar panel inputs, and towable or skid-mounted models with varying power output. The market caters to diverse sectors such as natural disaster relief, rural areas with limited grid capacity, and energy transition initiatives.
Solutions like wireless charging and gas generators are essential for construction companies, engineering and maintenance teams, event planners, mining industries, and data centers. Rapid urbanization and industrialization necessitate the expansion of public infrastructure, further driving market growth. Turbines and rural electrification projects are also significant applications for mobile power generation equipment.
Market Research Overview
The Mobile Power Generation Equipment Rentals market caters to the demand for temporary power solutions in various industries and applications. This market encompasses a wide range of equipment types, including diesel generators, natural gas generators, and solar power systems. These solutions are essential for powering construction sites, telecommunication networks, disaster relief efforts, and other temporary or remote locations.
The market is driven by factors such as increasing infrastructure development, growing demand for renewable energy sources, and the need for reliable power backup systems. Companies offering mobile power generation equipment rentals provide a flexible and cost-effective alternative to traditional power solutions. The market is expected to grow significantly in the coming years due to these factors and the increasing adoption of mobile power solutions across various sectors.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Enterprise
Personal
Product
Generator
Turbine
Geography
North America
APAC
Middle East And Africa
Europe
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio