Market Size of Power Generator Rental Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Power Generator Rental Market Analysis
The power generator rental market is expected to record a CAGR of greater than 5.2% during the forecast period.
The market was negatively impacted by COVID-19. Presently, the market has reached pre-pandemic levels.
- The drivers for the power generator rental market include the cost associated with purchasing new generators and tremendous developments in various sectors, such as oil and gas, construction, etc.
- However, the expansion of power distribution networks and rising development in renewable energy projects are expected to act as a restraint for the market's growth.
- With the rising population, projects from different sectors are expected to increase to meet the requirements, like energy, commercial and residential space, and manufacturing units, for daily needs. For instance, the global population is estimated to reach nearly 8.5 billion by 2030, which may boost global construction spending to USD 17.5 billion. Growth in construction implies a high possibility of an increase in the worldwide power generator rental market.
- North America is a significant region for the power generator rental market. It is estimated that scheduled power shutdowns, new projects installations for various industries, and enplanements, such as natural disasters and seasonal peak power demand, may primarily drive the regional power generator rental market.
