Electricity rental market worth USD 18.11 billion by 2028,

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New York, September 20, 2021 (GLOBE NEWSWIRE) – Electricity rental market overview: According to a comprehensive research report from Market Research Future (MRFR), Electricity rental market Research report, fuel type, application, end user and region – Forecast to 2028 ” The market is expected to be worth USD 18.11 billion by 2028, registering a CAGR of 8.2% during the forecast period (2021 – 2028)., The market was valued at USD 10.20 billion in 2021.

Key players

The list of major players in the global electricity rental market presented is –

  • Aggreko Plc. (UK)
  • Caterpillar Inc. (United States)
  • Ashtead Group Plc. (UK)
  • Cummins Inc. (United States)
  • United Rentals Inc. (United States)
  • Herc Rentals Inc. (United States)
  • LM Generating Power Co. Ltd. Ltd. (Canada)
  • Bredenoord Exploitatiemij BV (Netherlands)
  • Speedy Hire Plc. (UK)
  • APR Energy (United States)
  • others.

Industry News

In August 2020, Aggreko signed an agreement to offer three temporary generators to professional women’s golf in Scotland.


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Stable power demand for mining and oil and gas industries

Mining, oil and gas exploration is often carried out in remote locations. Due to the extremely combustible nature of the compounds extracted, human life in these places is in danger; therefore, sufficient lighting and power are required for such operations. Mining, oil and gas industries in the United States, Australia and several African countries are expected to experience significant growth due to increased investment. In the coming years, new mining projects are expected to be established in China, Australia and India. These components must be present in order to create a demand for power rental solutions. According to the Australian Bureau of Statistics, Australia spent more than $ 2.3 billion on mineral exploration in 2019, an increase of almost 19% from the previous year.

In addition, since the introduction of hydraulic fracturing, the United States has remained one of the world’s leading oil-producing countries. Exxon Mobil intends to invest $ 50 billion in expanding its integrated operations in the United States through 2025. This involves the development of new oil and gas wells in the Permian Basin and the construction of pipelines. to transport production to the Gulf Coast, where the company is increasing its downstream activities. footprint. These factors are expected to fuel the demand for power rental solutions in the future.


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Impact of COVID-19 on the global market

The global COVID-19 epidemic in the first half of 2020 has led several countries to quarantine themselves. All non-essential operations have been halted since governments and local authorities issued stern instructions. The shutdown of operations with end users had a negative impact on the electricity rental sector. Additionally, as end-user sectors continue to operate at less than full capacity, production and supply chain delays are expected to pose a short-term challenge for the electric rental sector. However, several companies have made this crisis an opportunity to provide societal services. Cummins, for example, transformed its air filter manufacturing plant into a respirator manufacturing unit (filtration material for face masks).

Market segmentation

The global electric rental industry has been segmented by fuel type, application, and end user.

By fuel type, the global electricity rental market has been segmented into diesel, gas, other.

By application, the global electricity rental market has been segmented into baseload, standby power, and peak clipping.

By end user, the global power rental market has been segmented into oil and gas, utilities, shipping, manufacturing, mining, construction, and others.


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Regional analysis

North America will dominate the global market

The North American zone dominates the global electricity rental market. With a market value of USD 3,773.9 million, North America held the largest market share of 31.60% in 2016. The region’s market is growing due to aging network infrastructure and infrastructure. natural disasters, which generate frequent power outages and increased demand from the industrial sector. In addition, increased investment in mining and related exploration operations in the region supports the need for power rental equipment during the projection period.

Competitive landscape

Customer-specific product offerings are a strong industry trend, with many industry players attempting to gain and maintain market share through strategic alliances and long-term collaborations. To gain competitive advantage in the market, major industry players are focusing on expanding their product line and offering an attractive selection of power rental systems. Backward integration and economies of scale are important for market players to maintain product quality standards. To increase their presence in different countries, these market players have used a number of inorganic and organic growth strategies.

Market segmentation covered by research:

Electricity Rental Market Insights By Fuel Type (Diesel, Gas & Others), By Application (Base Load, Backup Power & Peak Capping), By End User (Oil & Gas, Utilities, Shipping , manufacturing, mining, construction and others) – Forecast to 2028


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