According to a statement of P&S Intelligence, the total revenue generated by the power rental market was USD 9,702 million in 2022, and it will power at a rate of 5.7% in the years to come, to touch USD 15,117 million by 2030.
Diesel-based generators had the largest share in the industry, because of their quick set-up, requirement for low-space, ease of setting up, and low preliminary investments.
Furthermore, these systems can deliver weather-independent, scalable, and flexible processes. Also, the developments in their engine performance have enhanced their output for the same quantity of fuel burned.
The continuous power category dominated in the recent past. Oil and gas facilities, Industrial sites, and construction and mining sites are the key users of these machines for incessant energy applications.
Moreover, the capacity of these systems for providing energy at continuous loads for an unlimited time encourages their usage in diverse industries.
The 501–2,500 kW category had the largest share, of about 48%, as these alternatives deliver energy in both the continuous and standby modes.
Furthermore, they can gratify the necessity for an emergency supply in heavy-duty uses. Developing nations face issues of grid supply a lot more than developed nations, because of the obsolete power plants and distribution infra, leading to unreliable transmission.
North America power rental market lead the pack, and it will continue like this till the end of this decade. This is because of the growing investments in the construction sector.
As per census.gov, infra spending in October 2022 was projected at a seasonally adjusted annual rate of USD 1,794.9 billion. Moreover, in the initial 10 months of that year, this spending was USD 1,507.8 billion, 10.8% over the USD 1,360.8 billion for the similar span in 2021.
The U.S. leads the industry of North America and it will grow with a rate of 7.2%, because of the strong monetary backing. The rising indecision of the grid supply delivered by small-scale grids, together with the limited access to the indispensable transmission network, has elevated the requirement for rental generators in industries and utilities.
Some of the gases that are used in generators as fuel are hydrogen and natural gas, abundantly available globally, and this is emerging as a trend in the industry.
Gas-based variants are sought after as pocket-friendly and beneficial for the environment as they emit lower number of emissions and create insignificant noise, also being further reasonably priced than the conventional-fuel-based alternatives.
Due to the enhancements in the industrial sector at a rapid pace, the demand for power rental across the globe will continue to increase even further in the years to come.
