Power Rental Market Size, Share, Industry Trends and Forecast to 2030

Power Rental Market Size & CAGR

The power rental market size was valued at USD 9.2 billion in 2023, and it is projected to reach USD 15.6 billion by 2030, growing at a CAGR of 7.8% during the forecast period. The market is driven by the increasing demand for temporary power solutions in various industries, such as construction, oil & gas, utilities, events, and others. The growing need for reliable and uninterrupted power supply, rapid industrialization, and the aging grid infrastructure are key factors contributing to the market growth.

The COVID-19 pandemic had a significant impact on the power rental market. The restrictions imposed to curb the spread of the virus led to disruptions in supply chains, project delays, and reduced demand for temporary power solutions. However, as the economy gradually recovers and industries resume operations, the market is expected to rebound and witness steady growth in the coming years.

COVID-19 Impact on the Power Rental Market

The COVID-19 pandemic disrupted the power rental market in 2020, with several countries imposing lockdowns and restrictions on movement to contain the spread of the virus. This led to project delays, supply chain disruptions, and reduced demand for temporary power solutions. The construction sector, one of the key end-users of power rental services, experienced a slowdown as construction activities were halted or delayed.

However, as governments rolled out stimulus packages and initiatives to revive the economy, the power rental market started to recover. Industries gradually resumed operations, leading to an increase in demand for temporary power solutions to support ongoing projects. The healthcare sector also witnessed a surge in demand for power rental services to set up temporary medical facilities, quarantine centers, and testing sites.

The post-pandemic period is expected to bring new opportunities for the power rental market, as industries focus on strengthening their operations, increasing resilience, and embracing digital transformation. The market is poised for growth as organizations prioritize energy efficiency, sustainability, and reliability in their power systems.

Power Rental Market Dynamics

The power rental market is characterized by dynamic trends and factors that influence its growth and development. Several key drivers, restraints, opportunities, and challenges shape the market landscape and impact the demand for temporary power solutions.

Segments and Related Analysis of the Power Rental Market

1. By Power Rating:

- Below 50 kW

- 51 kW–500 kW

- Above 500 kW

2. By Fuel Type:

- Diesel

- Gas

- Others

3. By Application:

- Construction

- Utilities

- Events

- Oil & Gas

- Others

4. By End-User:

- Industrial

- Commercial

- Residential

Power Rental Market Analysis Report by Region

Asia Pacific Power Rental Market Report

The Asia Pacific power rental market is witnessing significant growth due to rapid industrialization, infrastructure development, and increasing demand for temporary power solutions in various sectors. Countries like China, India, Japan, and South Korea are key contributors to the market expansion in the region. The construction and manufacturing industries in Asia Pacific rely on power rental services to ensure uninterrupted operations and mitigate the risk of power outages.

The energy sector in Asia Pacific is also driving the demand for power rental solutions, especially in remote locations or areas with limited access to the grid. With the growing emphasis on renewable energy sources and sustainable practices, the power rental market in the region is evolving to offer eco-friendly and energy-efficient solutions.