What is the Market Size of Generator Rental

The global generator rental market is predicted to reach US$ 10.3 billion in 2023, growing at a CAGR of 5.6% between 2023 and 2033.

Generator rental services provide a versatile and cost-effective alternative to address the growing demand for temporary power across a variety of industries. With the escalating costs of acquiring, maintaining, and storing generators, renting has emerged as a viable option, particularly for short-term or intermittent power needs. It allows businesses to increase their power capacity based on their individual requirements while avoiding the expense of long-term ownership.

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Advances in generator technology, such as increased fuel efficiency, quieter operation, and cleaner emissions, have added to the appeal of generator rentals. Rental firms often upgrade their fleets with the most recent models, giving consumers access to efficient and ecologically friendly power options.

The generator rental market is expected to rise significantly due to the growing demand for temporary power solutions in the construction, events, oil and gas, manufacturing, and disaster recovery sectors. Furthermore, increased infrastructure development around the world drives up demand for generator rentals during construction, offering opportunities for service providers.

Key Takeaways from Market Study

The global generator rental market is anticipated to grow at a 5.6% CAGR and be valued at US$ 17.7 billion by 2033.
From 2018 to 2022, the market grew at a 5.8% CAGR.
In the fuel source sector, diesel generator dominates the market with a 65.1% share in 2023.
In 2023, China dominated the market, accounting for 23.3%.
Based on the country, the generator rental market is predicted to rise at CAGRs of 6.7% and 5.9%, respectively, in China and the United States.

"Requirement of Continuous Electricity Supply in the Industrial Sector Is Supporting the Growth of the Market" says a Fact.MR analyst.

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Key Companies Profiled in This Report

Aggreko
BlueLine Rental
Cummins Power Generation
Generac Rental Services
Herc Rentals
Rental Solutions & Services (RSS)
United Rentals

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Country-wise Insights

What part does the United States play in the expansion of the market for rental generators?

The expansion of lithium mining activities in the United States is driving demand for generator rentals. Lithium mining is usually conducted in remote or off-grid locations with limited access to the electrical grid. When this happens, renting generators is required to power mining operations as a temporary or backup power source while permanent infrastructure is being created. This drives up demand for generator rentals in mining areas.

Mining companies are expanding their operations and building new mines around the United States as demand for lithium rises. These expansion projects usually involve the creation of new mining operations and infrastructure, which necessitate the use of temporary energy during the construction phase. Generator rentals provide the power needs of construction sites, hence boosting industry expansion.

Market Development

Maintaining a functional and up-to-date fleet is critical for reducing demand. Rental companies spend in frequent equipment maintenance, servicing, and repairs to guarantee that their generators are in peak performance. They also keep up with the latest generator technology and industry standards, replacing older models with more efficient and reliable alternatives to meet client needs and drive market growth.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global generator rental, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of product type (AC generator, DC generator), output (up to 60 kw, 61 to 250 kw, 251 to 500 kw, 501 to 1,000 kw, 1,000 kw- 4,000 kw, above 4,000 kw), fuel source (diesel generator, gasoline generator, gas generator, others (bi-fuel, natural gas, etc.)), application (standby, peak shaving, continuous), installation (stationary, mobile and portable), cooling type (air-cooled, hydrogen cooled, water cooled), end user (commercial (datacentre, healthcare facilities, telecom, hospitality centers, others), residential, industrial (mining, oil & gas, power and energy, water treatment facility, others), military, and others) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).

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This release was published on openPR.