North America Power Rental Market (2024-2030) | Forecast, Analysis, Outlook, Industry, Share, Value, Companies, Growth, Revenue, Size & Trends

North America Power Rental Market Highlights

Report Name	North America Power Rental Market
Forecast period	2024-2030
CAGR	5.8%
Growing Sector	Infrastructure

Topics Covered in North America Power Rental Market Report

North America Power Rental Market report thoroughly covers the market by type, KVA rating, countries and end-user. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

North America Power Rental Market Synopsis

The market for power rentals in North America has grown significantly as a result of the growing need for temporary power solutions in industries including emergency response, construction, and events. This market has been driven further by the increase in natural disasters and the requirement for a continuous supply of electricity during blackouts, making it an essential part of the infrastructure and operational continuity support system for a wide range of sectors.

According to 6Wresearch, North America Power Rental Market size is expected to grow at a significant CAGR of approximately 5.8% during 2024-2030. The ongoing development of building activities, increased investments in renewable energy projects, and the growing reliance on rental power solutions for large-scale events are all factors contributing to this growth trajectory. Furthermore, the industry's significance for maintaining operational resilience will be further cemented by the ongoing effects of climate change and the consequent increase in the frequency of natural disasters, which are expected to boost demand for dependable and flexible power rental services.

In addition, considering its strong need for temporary power solutions across a range of industries, the United States commands the greatest share of the North American power rental industry. This growth has been attributed to the nation's large-scale construction projects, regular natural disasters, and requirement for a continuous power supply during extreme weather occurrences. However, due to rising investments in infrastructure development and the expanding use of renewable energy sources, Canada is also anticipated to see significant growth in the years to come.

The power renting business in North America is expanding, but there are still a number of obstacles to overcome. These include the need to continuously spend in equipment maintenance and improvements, regulatory obstacles pertaining to emissions and environmental requirements, and competition from alternative energy sources. Seasonality-related variations in demand can also provide problems for pricing and inventory management plans.

North America Power Rental Market: Leading Players

Some significant companies that are operating in the market and continuously contributing to its success are Caterpillar Inc., Aggreko plc, and United Rentals, Inc. are at the forefront, offering a diverse selection of equipment and solutions tailored to meet the varying needs of customers across different sectors. Additionally, regional players and smaller companies also play a crucial role, often focusing on niche markets or localized service, fostering innovation and competition within the industry.

North America Power Rental Market: Government Regulations

Government regulations, which guarantee operational effectiveness, environmental preservation, and safety, have a big impact on the power renting business in North America. For rental businesses to run sustainably, compliance with local, state, and federal rules is essential. Through government initiatives and tax breaks, the demand for renewable energy sources—like solar and wind—is pushed, impacting consumer preferences and market dynamics.

Future Insights of the Market

Future predictions indicate that the power rental sector in North America will experience revolutionary expansion due to advances in technology and a growing focus on sustainability. It is anticipated that the incorporation of smart technology and Internet of Things devices into rental equipment will improve operating efficiency and enable real-time power resource monitoring and management. This change would not only increase dependability but also allow rental companies to provide more specialised services to cater to the needs of individual customers.

In addition, as renewable energy continues to gain popularity, there will probably be a greater need for hybrid rental options that combine renewable and traditional power sources. In addition to complying with regulatory requirements, this trend will meet the increasing demand from customers for eco-friendly products. Businesses who make investments in cutting-edge technologies and sustainable business practices will probably become leaders in this changing environment, putting them in a position to take advantage of new opportunities and changes in the market.

Market Segmentation by Type

According to Dhaval, Research Manager, 6Wresearch, The North American power rental market is divided into two main categories: Diesel Power Rental and Gas Power Rental. Diesel generators are favoured for heavy-duty applications, while gas power rentals, facilitated by natural gas and propane generators, are gaining popularity as environmentally friendly alternatives. As regulations become stringent and consumers seek greener options, the gas power rental segment is expected to experience significant growth, positioning itself as a crucial player in the power rental landscape.

Market Segmentation by KVA Rating

The North American power rental market is segmented based on the KVA (Kilovolt-Amperes) rating of equipment, catering to various applications from small-scale operations to large industrial projects. Generators in the up to 100 KVA range are ideal for residential use, small events, and backup power. The 100.1 KVA - 350 KVA range serves medium-sized projects, while the 350.1 KVA - 750 KVA range is used for large operations. The 750.1 KVA - 1000 KVA range is designed for high-demand scenarios, while the above 1000 KVA range is used for critical infrastructure projects and large industrial operations. In the current landscape of the North America power rental market, the 350.1 KVA - 750 KVA segment is experiencing significant growth.

Market Segmentation by End-User

The North American power rental market is segmented by industries that require temporary power solutions. Power utilities rely on reliable power rental services for peak load scenarios and managing grid stability. Oil and gas sectors require high-capacity generators for remote drilling, pipeline installations, and production facilities. Construction relies on power rentals for tools, machinery, lighting, and temporary site offices. Manufacturing facilities use power rentals for equipment upgrades, unforeseen outages, and large-scale production needs. Quarrying and mining sectors require reliable and substantial power output for heavy equipment operation. Other sectors like events management, healthcare, and retail also require temporary power solutions.

Market Segmentation by Countries

The North America power rental market exhibits varied demands across countries, with the United States leading in consumption due to its substantial industrial base and infrastructure projects. Canada follows closely, driven by its resource extraction industries and growing construction sector, while Mexico's emerging market seeks reliable power solutions for expanding manufacturing and event management needs.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• North America Power Rental Market Overview
• North America Power Rental Market Outlook
• North America Power Rental Market Forecast
• Historical Data of North America Power Rental Revenues for the Period 2020-2030
• North America Power Rental Market Size and Forecast of Revenues, Until 2030
• Historical Data of North America Power Rental Market Revenues, By Types, for the Period 2020-2030
• Market Size & Forecast of North America Power Rental Market Revenues, By Types, until 2030
• Historical Data of North America Power Rental Market Revenues, By KVA ratings, for the Period 2020-2030
• Market Size & Forecast of North America Power Rental Market Revenues, By KVA rating, until 2030
• Historical Data of North America Power Rental Market Revenues, By End-User Applications, for the Period 2020-2030
• Market Size & Forecast of North America Power Rental Market Revenues, By End-User Applications, until 2030
• Historical Data of United States Power Rental Market Revenues, for the Period 2020-2030
• Market Size & Forecast of United States Power Rental Market Revenues, until 2030
• Historical Data of Canada Power Rental Market Revenues, for the Period 2020-2030
• Market Size & Forecast of Canada Power Rental Market Revenues, until 2030
• Historical Data of Rest of North America Power Rental Market Revenues, for the Period 2020-2030
• Market Size & Forecast of Rest of North America Power Rental Market Revenues, until 2030
• Market Drivers and Restraints
• North America Power Rental Market Trends and Industry Life Cycle
• North America Power Rental Market Share, By Regions
• North America Power Rental Market Share, By Players
• North America Power Rental Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Covered

The North America Power Rental Market report provides a detailed analysis of the following market segments:

By Type

• Diesel Power Rental
• Gas Power Rental

By KVA Rating

• Diesel Power Rental
• Up to 100 KVA
• 1 KVA-350 KVA
• 1 KVA-750 KVA
• 1 KVA-1000 KVA
• Above 1000 KVA

By End-User

• Power Utilities
• Oil & Gas
• Construction
• Manufacturing
• Quarrying and Mining
• Others (Hospitality, Retail, Hospital, Educational Institutes, Commercial Offices)

By Countries

• United States
• Canada
• Rest of North America

North America Power Rental Market (2024-2030): FAQs