Mobile Power Generation Equipment Rentals Market to increase by USD 629.21 million during 2022-2027 | Increasing infrastructural activities to drive the growth - Technavio
NEW YORK, Nov. 29, 2023 /PRNewswire/ -- The mobile power generation equipment rentals market size is expected to grow by USD 629.21 million between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 6% during the forecast period. The market is segmented by Application (Enterprise and Personal), Product (Generator and Turbine), and Geography (North America, APAC, Middle East and Africa, Europe, and South America).
The increasing infrastructural activities drive market growth. With new projects being launched every day, there has been an increase in infrastructural development across the world. This development can include engineering, maintenance, management, and development which are undertaken by both government and non-government sectors. Furthermore, the growing adoption of mobile power solutions for such purposes as it serves as an ideal option for such situations due to their cost-effectiveness and efficiency. Hence, these requirements are expected to fuel the demand for mobile power generation equipment rentals which in turn will drive the market growth. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample
The report recognizes the following as some of the key players in the mobile power generation equipment rentals market: Aggreko Plc, Alta Equipment Group Inc., Ashtead Group Plc, Atlas Copco AB, ATLAS Corp., BigRentz Inc., Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Herc Holdings Inc., PowerPlus, RPC Inc., Siemens AG, The Taylor Group Inc., United Rentals Inc., and Wacker Neuson SE
Mobile Power Generation Equipment Rentals Market is fragmented in nature.
Market to observe 4.45% YOY growth in 2023.
The growing adoption of mobile power plants for rural electrification is an emerging market trend.
Electricity is an essential requirement for the development of a nation.
Uninterrupted power supply in developed countries is witnessed, whereas there is a lack of consistent electricity supply in developing and under-developed nations, especially in rural areas.
Consequently, there are several measures undertaken by the government in these countries to electrify these rural areas in developing countries.
The increasing adoption of energy storage systems challenges market growth.
Factors such as the increasing demand to reduce emissions, and the implementation of favorable regulations and policies in several countries significantly fuel the increasing demand for the adoption of renewables.
For instance, the ESS is considered as an essential tool to utilize the benefits of renewables for a resilient and clean power supply.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report
The enterprise segment is significant during the forecast period. The growing adoption of mobile power generation equipment rentals by several businesses in order to meet their short-term or remote power demands. The segment growth is attributed to the flexibility, cost-effectiveness, and scalability of rental alternatives which enable enterprises to acquire reliable power solutions without making significant upfront commitments.
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