According to the report by Expert Market Research (EMR), the global mobile power generation equipment rentals market is projected to grow at a CAGR of 6.2% between 2024 and 2032. Aided by the increasing demand for electricity in remote areas, events, and disaster-stricken regions, the market is expected to grow significantly by 2032.
Mobile power generation equipment rentals refer to the renting or leasing of power-generating units that can be easily transported and installed at required locations. These units provide temporary power solutions and are equipped with all the necessary components, ensuring swift deployment. They play a crucial role in situations where power requirements are immediate, yet short-term, or where setting up a permanent infrastructure is impractical.
A significant factor driving the global mobile power generation equipment rentals market growth is the surge in outdoor events, exhibitions, and concerts that require temporary power sources. The logistics of such events often make it unfeasible to rely on fixed power sources, necessitating the use of rented mobile power units.
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Another pivotal market driver is the increasing frequency of natural disasters, leading to power outages. In regions struck by hurricanes, earthquakes, floods, or other calamities, the existing power infrastructure might be severely compromised. As per the mobile power generation equipment rentals market analysis, mobile power generation equipment can be rapidly deployed to such areas, ensuring uninterrupted power supply for rescue, medical, and other essential operations.
The ongoing infrastructural development projects in remote areas further push the market’s growth trajectory. As companies venture into untapped regions for mining, exploration, or construction activities, the need for reliable power sources becomes paramount. Here, mobile power generation equipment rentals emerge as an optimal solution, offering the required electricity without long-term commitments, further contributing value to the mobile power generation equipment rentals market size.
Technological advancements in the sector have led to more efficient and eco-friendly mobile power units. The integration of renewable energy sources, such as solar and wind, with these units, underscores the industry’s focus on sustainability. Such innovations not only reduce the carbon footprint but also lower operational costs, making them an attractive option for potential renters and further propelling the mobile power generation equipment rentals market demand.
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Mobile Power Generation Equipment Rentals Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Generator
- Turbine
Market Breakup by Application
- Enterprise
- Personal
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mobile power generation equipment rentals market. Some of the major players explored in the report by Expert Market Research are as follows:
- Aggreko Plc
- APR Energy Plc
- Caterpillar Inc.
- Cummins Inc.
- Siemens AG
- Others
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