Description of the Report
A decline in Industrial Power Demand during Coronavirus Impacts Market Growth
COVID-19 and its ramifications affect every aspect of our everyday lives, such as electricity generation and transmission. The need for electricity has been reduced in many areas, particularly in industrial areas like construction, mining and industry of event management, etc. This has harmed the generator rental market’s development in the coronavirus outbreak. But the domestic market has given a little growth to generator rental.
Recently during the time, an icy winter storm struck Texas on Feb. 2021; Generator rental and sales soared when homebound Americans were trying to repair and protect their homes due to concerns about the reliability of the power grids. To avoid similar COVID-19 scenarios in the future, residents from the commercial, industrial, and residential industries are investing money in generators, creating opportunities for businesses renting generators.
Sensor’s built-in to portable Gensets help produce clean electricity.
Power for emergency power and tools and protection against damage are crucial benefits of portable generators. But, most portable fuel-powered generators are susceptible to distortion caused by harmonics, i.e. fluctuations in voltage. This poses challenges to making pure electricity. Therefore, the players in the market of rental generators are increasingly focusing on making use of technological advancements with portable power generators that lessen the risk of carbon monoxide (CO) poisoning.
There is a growing supply of fuel generator rentals that can be rented out portable equipped with sensors which trigger the automatic shutoff when CO emissions levels are high within enclosed areas. Gensets convert the power from AC to DC and back to A/C energy to ensure a clean power supply.
Lower Emissions, Longer Run Time, and Lower Emissions Associated with LPG Rental Gensets
The generator rental market is expected to exceed the market value of USD 6.2 Bn by the year-end of 2031. The low sound and emission levels are favoured for generators. Himoinsa, a designer and producer of gas and diesel generator sets, is taking advantage of this opportunity and has received appreciation at the Executive Rental Show for a unique set of rental generators using LPG (HRGO 30, HRGO 40andHRGO 70).
Long-running time, low maintenance costs, and operational costs are being attributed to LPG Rental generator sets. Manufacturers of the Europe rental market for generators are expanding their R&D power to design LPG rental generators with other fueling options externally as well as double-body chassis that are heavy-duty and ventilation sensors to give them an edge over the other players in the market.
Scalable Power Generation Obtained Using Natural Gas, Diesel Generators
The rental market for generators worldwide is predicted to grow by only approximately 5 per cent over the forecast time. Generators powered by diesel and natural gas are measuring the high demand in telecom, oil and gas and utility sectors. Aggreko is a power generation equipment manufacturer for temporary use and temperature control equipment. It is increasingly recognized for its diesel and natural gas generators with output ranging between 125 and 2100 kVA to provide reliable mobile, portable, and scalable power generation. Flexible rental packages are creating opportunities for revenue for generator rental providers. Rental market.
Flexible Rental Packages that Deliver Cost-Effectiveness in Utilities and Construction Sites
Companies operating in the rental of generators market are investing in establishing nationwide and global service points to boost their revenue streams. Flexible rental rates are being crafted according to the time frame of the customer as well as fuel and power requirements that fit within the customer’s budget. Suppliers are expanding their offerings with different generators to provide the proper electricity to mining construction sites and other facilities.
If power demand fluctuates for customers, Generator rental providers rental market have developed load-on-demand systems where portable generators are automatically turned on and off based on the load requirements of the site. This allows customers to cut down on emissions, fuel and expenses.
| Generator Rental Market Report Scope and Segmentation | |
| ATTRIBUTES | DETAILS |
| ESTIMATED YEAR | 2022 |
| BASE YEAR | 2021 |
| FORECAST YEAR | 2030 |
| HISTORICAL YEAR | 2017-2021 |
| UNIT | Value (USD Million/Billion) |
| BY REGION | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Generator Rental Market Overview
- Based on MWR’s latest study on the rental of generators worldwide market for the period from the beginning of 2020 and the forecast timeframe between 2021 to 2031, the rising demand for continuous power supply for industries with end-of-life along with rapid industrialization is a significant factor that is expected to drive the rental market for generators worldwide over the forecast timeframe.
- The global generator rental market is projected to be more than US$1 6.2 Bn by 2031, growing at a rate of about 5 per cent during the forecast time. For the end-user utilities, they are expected to be a profitable segment of the global rental market for generators over the forecast time. According to a type of diesel, the diesel segment will dominate the generator rental market worldwide by the year 2020. The ease of access, reliability, and efficiency are the main factors driving this segment of the global market for generator rental over the forecast time. Regarding power ratings over 1000kVA, the above segment was the most popular segment of the generator rental market by the year 2020.
The increase in the frequency of power Outages: A Key Factor in the Generator Rental Market
- The number of days with power outages has been rising in recent years due to natural disasters or transmission line malfunctions, distribution line breakdowns, and equipment malfunctions at power generation facilities or substations worldwide. This is expected to boost the rental market for generators worldwide. Generator rental is an enticing alternative to power derived from distribution and transmission lines.
- Industries in remote regions depend heavily on rental power like rental generators. Most of the time, remote areas in many countries around the globe suffer power shortages. This increases the demand for generator rentals. Market.
- The fluctuation of power can cause severe damage to electrical equipment. It can also affect the people who operate this equipment or machines.
- Inadequate maintenance of the power grids worldwide hampers power distribution and increases the need for rental generators. This is, in turn, a significant driver of the market for rental generators.
- Power outages also impact industrial output, leading to revenue losses. In addition, they create discomfort, malfunctions, and inefficiency in commercial, residential government, and other establishments. Therefore, most consumers choose generators to protect their equipment and reduce the need for power in peak times.
- Therefore, the rising demand for electricity, as well as an increase in the frequency of power outages around the globe, are likely to propel the rental market for generators worldwide over the forecast time.
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| Power Rating |
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| End User |
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Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
Generator Rental Market Generator Rental Market: Competition Landscape
- A detailed profile of the businesses operating in the international generator rental market has been included in the report for a thorough analysis of their financials, the essential product offerings, latest developments and strategies.
- The key players in the global rental market include
- Caterpillar, Cummins Inc.
- HIMOINSA
- AKSA Power Generation
- Aggreko plc, Kohler Co.
- United Rentals, Inc.
- APR Energy
- AGCO Corporation
- Herc Rentals Inc.
- Ashtead Group plc. Wartsila
- Generac Power Systems, Inc.
- Cooper Equipment Rentals
Generator Rental Market: Strategic Partnerships
- The most prominent companies operating in the global rental market, including Caterpillar, Cummins Inc., and Aggreko plc., are focusing on technology innovation to increase their global reach. The most significant developments in the global rental market are summarized in the following sections:
- Then, in November 2020, Aggreko plc. Launched 600kVa, a line that includes Tier 4 Final/Stage V compatible generators. The generator provides a 96 per cent reduction in NOx gases and a 98 per cent decrease in particles. It can run using biofuel or diesel.
- Then, in October 2020, Aggreko plc. Launched a 1MW solar power rental service. The solution for 1MW PV is designed for off-grid use and provides clean energy innovations without a long-term technical or financial commitment.
- In June 2020, Atlas Copco AB introduced four portable generator models (250 3,25, 450 as well as 660) in the QAS 5 series. They are small and efficient in fuel consumption and lower carbon emissions. They are ideal for use for events, construction and other utility-related applications.
- In the global market for generator rental report, we’ve reviewed the individual strategies followed by profiles of companies offering generator rental. A Competition Landscape section has been included to give readers an overview of the competitive landscape and a market share analysis for the key players in the global rental market.