Enjoy complimentary customisation on priority with our Enterprise License!
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.
Download the Free Report Sample to Unlock the Power Rental Market Size in Americas for the Forecast Period and Other Important Statistics
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.
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.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
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.
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:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Customer landscape
Vendor Landscape
Vendor Analysis
Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.