The new report by Expert Market Research titled, ‘Global Mobile Power Generation Equipment Rentals Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global mobile power generation equipment rentals market, assessing the market based on its segments like type, application, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.2%
The market for mobile power generation equipment rentals has seen substantial growth due to factors such as the increased development of public infrastructure, growing industrial base, and the need for large volumes of energy during events and activities. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the mobile power generation equipment rentals market. Also expected to move the market ahead are increased construction operations and increased demand from the mining and oil and gas industries. Nonetheless, increasing microgrid competition, expanding use of energy storage systems, and pollution control regulations may hinder the mobile power generation equipment rentals industry’s growth over the forecast period.
Mobile Power Generation Equipment Rentals Industry Definition and Major Segments
The mobile power generation equipment rentals industry can be broadly categorised based on types and applications.
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Based on the type, the industry is divided into:
- Generator
- Turbine
Based on the application, the industry is divided into:
- Enterprise
- Personal
The regional markets for mobile power generation equipment rentals include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Mobile Power Generation Equipment Rentals Market Trends
Geographically, the market in North America is expected to increase rapidly, with diesel generators leading the market. However, as environmental rules tighten in order to reduce carbon footprints, the focus on alternative fuel generators is growing. The United States is one of the leading countries that uses natural gas power generators to reduce pollution. Natural gas generators have a higher reliability since they have fewer failures during operation. Furthermore, during operation, natural gas generators often save between USD 1000 and USD 3000 per kilowatt. Growing energy demand, infrastructure projects, and the need for contact power are just a few of the key reasons driving the mobile power generation equipment rental market in North America.
Furthermore, it is expected to invest in the oil and gas sector in the United States, which is expected to fuel the market during the forecast period. During the forecast period, the region’s construction sector is expected to exceed in investment. The rental generator business, as well as the oil and gas industry, are likely to benefit from the sector’s growth.
Key Market Players
The major players in the market are Aggreko Plc, APR Energy Plc, Caterpillar Inc. (NYSE: CAT), Cummins Inc., Siemens AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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