Power Rental Market Worth $11.7 Billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Oct. 15, 2020 /PRNewswire/ -- According to the new market research report "Power Rental Market by Fuel (Diesel, Natural Gas), Power Rating, Equipment, End User (Utilities, Oil & Gas, Events, Construction, Mining), Application (Peak Shaving, Base Load, Standby), Rental Type (Retail, Project), and Region - Global Forecasts to 2025", published by MarketsandMarkets, the global Power Rental Market size is projected to reach USD 11.7 billion by 2025 from an estimated value of USD 8.6 billion in 2020, at a CAGR of 6.3%. The increasing investments for the development and expansion of commercial sector operations across different regions and supportive regulations & grants for using renewable sources of energy in different applications are the key factors driving the Power Rental Market are driving the growth of this market.

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By fuel type, the diesel segment is the largest contributor in the Power Rental Market during 2019.

The diesel segment is estimated to be the fastest-growing segment of the Power Rental Market, by fuel type, from 2020 to 2025. Key advantages of using diesel generators include economical operation and easy availability and storage. Additionally, diesel generator sets are ideal for long-term (prime) operations with a load of range 70–80% as they are typically designed to offer the best operational efficiency. Moreover, they facilitate the constant generation of voltage and power without peaks and help to regulate fluctuations in the delivered power. Diesel generators find applications mainly in commercial establishments and manufacturing facilities. 

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By the end-user, the utilities segment is expected to grow at the fastest rate during the forecast period.

Utilities are connected through a grid to develop a distribution network for the supply of power. Generation utilities are the companies that are engaged in the generation of power, which is then sold by distribution utilities with transmission utilities acting as a bridge to deliver power from generation to distribution site. In developing regions, such as Africa and Asia Pacific, local grids cannot provide reliable supply, mainly due to the poor transmission network. Unreliable supply from a local grid or limited access to the main transmission network prohibits the delivery of electricity to industrial, commercial, and residential users. A weak network also means that there would be a lot of fluctuations in the power levels inside the grid, threatening its stability and integrity. In such cases, there is a high demand for power rental solutions for applications such as peak shaving wherein power rental solutions come handy for stabilizing the grid within a short duration of time at economical prices.