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Power Rental Market in Americas by Product and End-user - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR43237
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The power rental market share in Americas is expected to increase by USD 873.83 million from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 5.34%.

This power rental market research report of Americas provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers power rental market segmentation in Americas by product (diesel generators and gas generators) and end-user (utilities sector, oil and gas sector, industrial sector, and others). The power rental market report of Americas also offers information on several market vendors, including Aggreko Plc, APR Energy, Ashtead Group Plc, Atlas Copco AB, Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Herc Rentals Inc., Siemens AG, and United Rentals Inc. among others.

What will the Power Rental Market Size in Americas be During the Forecast Period?

Power Rental Market Size

Download the Free Report Sample to Unlock the Power Rental Market Size in Americas for the Forecast Period and Other Important Statistics

 

Power Rental Market in Americas: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The need for an uninterrupted power supply is notably driving the power rental market growth in Americas, although factors such as a rise in distributed energy and microgrids to improve grid flexibility may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the power rental market industry in Americas. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Power Rental Market Driver in Americas

With the rising use of electrical equipment for different applications, the requirement for continuous, reliable, and quality power is increasing at a considerable rate. Any fluctuations or variations in power supply, such as voltage sag, swell, and outage, can lead to damage to the equipment. Hence, the demand for temporary power solutions is increasing across the Americas. Power rental equipment is used in various industries such as mining due to the flexibility of scaling power supply that it provides, depending on the need for power within a short period of time. The demand for rental power is high from old mines as they had limited resources during their development and operation. In many old mines, the introduction of new equipment has increased the need for power. New mines require power rental equipment due to the instability of grids and the inability of utility companies to provide an uninterrupted power supply. Therefore, the rising demand from the mining industry will drive the growth of the power rental market in the Americas during the forecast period.

Key Power Rental Market Trend in Americas

Environmental reforms and stringent government regulations to reduce emissions have led to new technology being developed for generators, which involves less fuel consumption while increasing the power output. A recent trend has been the shift to gas power generators. Gas generators not only reduce emissions, but they are also capable of producing more energy, making them more efficient and thus, lowering the total cost of their ownership. These advantages are increasing the adoption of gas generators. Companies such as Caterpillar and Cummins are offering gas generators that can run on alternative fuels such as Y-grade or flare gas. Providing such generators for rental purposes and targeting the oil and gas sector has provided an excellent opportunity for rental companies. Therefore, not only do such generators reduce the flaring of Y-grade gas and its associated emissions in the oil and gas industry, but they also offer an excellent opportunity for power rental companies to gain profits by providing them with an innovative temporary power solution.

Key Power Rental Market Challenge in Americas

The governments of many countries are focusing on producing cleaner energy and are encouraging the use of renewable energy sources. Distributed energy systems, such as solar photovoltaics (PVs), are gaining popularity due to the reduction in cost and lower emission benefits that they provide, leading to government support for such systems. The shift to alternative energy is low due to certain challenges such as high cost. However, the cost of these technologies is declining, and companies are adopting standalone technologies to stay completely independent of the grid. This trend could impact the growth of the market in the long run as it eliminates the need to have backup power, as these alternative technologies can be self-sustaining, thus affecting the power rental market in the Americas. Hence, by establishing distributed energy sources and microgrids, the need for rental generators will be reduced, which will have a negative impact on the power rental market in the Americas.

This power rental market analysis report of Americas also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The growth in the global electrical components and equipment market will be driven by factors such as growing adoption of automation in manufacturing the process, rising focus on energy-efficient electrical components and equipment, and increasing adoption of sensors in multiple end-user segments. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the power rental market in Americas during the forecast period.

Who are the Major Power Rental Market Vendors in Americas?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Aggreko Plc
  • APR Energy
  • Ashtead Group Plc
  • Atlas Copco AB
  • Caterpillar Inc.
  • Cummins Inc.
  • Generac Power Systems Inc.
  • Herc Rentals Inc.
  • Siemens AG
  • United Rentals Inc.

 

This statistical study of the power rental market in Americas encompasses successful business strategies deployed by the key vendors. The power rental market in Americas is fragmented and the vendors are offering differentiated products at competitive prices to compete in the market.

Product Insights and News

  • Aggreko Plc - The company offers generators and power turbines on a rental basis. It offers diesel and natural gas generators for planned and emergency applications.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The power rental market forecast report of Americas offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Power Rental Market Value Chain Analysis in Americas

Our report provides extensive information on the value chain analysis for the power rental market in Americas, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of electrical components and equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Aftermarket and service
  • Industry innovations

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

What are the Revenue-generating Product Segments in the Power Rental Market in Americas?

Power Rental Market Market segmentation by region

To gain further insights on the market contribution of various segments Request for a FREE sample

The power rental market share growth in Americas by the diesel generators segment will be significant during the forecast period. The capability of diesel generators to store power at various end-user sites, along with the easy availability of fuel, have made these generators the ideal choice to supply backup power or for baseload purposes. The use of rental backup diesel generators is mostly visible in developed countries such as the US and Canada, where there is a well-established power network, making continuous power supply crucial. For these reasons, diesel generators are the most commonly used generators in sectors such as mining, oil and gas, and manufacturing, where continuous and reliable power plays a crucial role. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the power rental market size in Americas and actionable market insights on post COVID-19 impact on each segment.

 

Power Rental Market Scope in Americas

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 5.34%

Market growth 2021-2025

$ 873.83 million

Market structure

Fragmented

YoY growth (%)

5.93

Regional analysis

Americas

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aggreko Plc, APR Energy, Ashtead Group Plc, Atlas Copco AB, Briggs and Stratton Corp., Capstone Turbine Corp., Caterpillar Inc., Cummins Inc., Doosan Corp., Generac Power Systems Inc., General Electric Co., Herc Rentals Inc., HIMOINSA SL, Inmesol SL, Kawasaki Heavy Industries Ltd., Kohler Co., Siemens AG, United Rentals Inc., and Wacker Neuson SE

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Power Rental Market Report of Americas?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive power rental market growth in Americas during the next five years
  • Precise estimation of the power rental market size in Americas and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of power rental market vendors in Americas 

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Diesel generators - Market size and forecast 2020-2025
  • Gas generators - Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by End-user

  • Market segments
  • Utilities sector - Market size and forecast 2020-2025
  • Oil and gas sector - Market size and forecast 2020-2025
  • Industrial sector - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by End user

Customer landscape

  • Customer landscape
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Aggreko Plc
  • APR Energy
  • Ashtead Group Plc
  • Atlas Copco AB
  • Caterpillar Inc.
  • Cummins Inc.
  • Generac Power Systems Inc.
  • Herc Rentals Inc.
  • Siemens AG
  • United Rentals Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Power Rental Market market growth will increase by $759.40 million during 2019-2024.
The power rental market market is expected to grow at a CAGR of 4.47% during 2019-2024.
Technavio has segmented the power rental market market by product (Diesel generators and Gas generators) and geographic (Afghanistan).
Aggreko Plc, APR Energy, Ashtead Group Plc, Atlas Copco AB, Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Herc Holdings Inc., Siemens AG, United Rentals Inc. are a few of the key vendors in the power rental market market.
Afghanistan will register the highest growth rate of NaN% among the other regions. Therefore, the power rental market market in Afghanistan is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the power rental market market growth are:
  • Need for uninterrupted power supply
  • Growing adoption of cordless nail guns
The power rental market market vendors should focus on grabbing business opportunities from the diesel generators segment as it accounted for the largest market share in the base year.
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