Power Rental Market
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The global power rental market was valued at USD 17.8 billion in 2024 and is estimated to grow at a CAGR of 3.9% from 2025 to 2034. The rapid growth of data centers & escalating costs of unplanned outages in line with the heavy reliance on information sharing and constant communication is significantly driving the rental demand for gensets. The natural disasters including windstorms, tsunamis, and hurricanes are major events that account for most electricity outages, stimulating the product penetration.
Power rental is a flexible, cost-effective solution for meeting temporary or supplementary power needs across various industries. Businesses often turn to genset rentals to maintain power continuity during scheduled maintenance, respond to unexpected outages, or support high-demand events. Rental generator sets are valued for their scalability, allowing businesses to easily adjust their power capacity according to immediate needs, reducing capital expenditure and ensuring operational efficiency.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Power Rental Market size in 2024: | USD 17.8 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2023 - 2032 CAGR: | 3.9 |
| 2023 Value Projection: | USD 26.5 Billion |
| Historical Data for: | 2021 to 2024 |
| No of Pages: | 185 |
| Tables, Charts & Figures: | 43 |
| Segments Covered: | Power Rating, Fuel, End Use, Application and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Growing consumer awareness and rising demand for enhanced reliability and zero downtime are driving the need for power rental equipment. Population growth and a higher standard of living, along with a thriving real estate sector, are positively influencing the industry outlook. Increased investment in infrastructure and rapid expansion of manufacturing facilities are boosting business prospects. Additionally, government initiatives and funding for industrial facility development are supporting the adoption of these units.
The > 75 kVA - 375 kVA power rental industry will exceed USD 8 billion by 2034. Rising demand from data centers, driven by increased data usage through social media, e-commerce platforms, smartphones and government initiatives will strongly support the deployment of these units. The key government initiatives aimed at advancing digitalization are expected to boost industry metrics. The continuous adoption of innovative models to sustain growth, along with a focus on operational excellence will further enhance the business landscape.
The diesel power rental market size will witness a growth rate of over 3.5% up to 2034. Ongoing digitization combined with the expansion of data centers especially in developing countries will significantly increase the demand for reliable power generation sources. The growing reach of online services in remote areas has also created a favorable business environment. Extensive investments by public & private entities to expand data center infrastructure are driving demand for rental generator sets. The data center industry is experiencing substantial growth owing to challenges including startup issues, system downtimes, and potential loss of in-process data, driving the business potential.
U.S. power rental market is set to reach over USD 5 billion by 2034. The government growing emphasis on raising electrification rates is set to boost the use of these units, either to support the main grid or integrate with renewable power sources for steady backup during intermittent power supply. Continuous upgrades to aging grid infrastructure and the rising frequency of weather-related disasters will further enhance the industry landscape. Additionally, the rising costs associated with data center outages, combined with increasing consumer demand for reliable backup power solutions will foster the growth in the sector.
The growth of residential buildings, educational institutions, and retail complexes has notably boosted the demand for a stable power supply will augment the Asia Pacific power rental market. Rising needs for power solutions that offer rapid, automatic start-up and high reliability are expected to further drive the use of these units. Additionally, the increasing investments across construction sector and increasing reliance on these generators to meet substantial power demands for continuous operation of equipment and tools at job sites will strengthen the business landscape.
The players operating in the power rental industry adopt several key strategies to maintain competitiveness and meet the evolving demands of industries. Additionally, expanding service offerings like maintenance, installation, and remote monitoring enhances customer satisfaction and ensures long-term relationships. The company’s focus on geographical expansion, targeting emerging markets with rising infrastructure demands. Partnerships and collaborations with major construction, industrial, and energy companies help players access large-scale projects, further boosting the market share.
Major players operating in the power rental industry are:
Market, By Power Rating
Market, By Fuel
Market, By End Use
Market, By Application
The above information has been provided for the following regions and countries:
Major players in the power rental industry include Aggreko, Al Faris Group, Ashtead Group, Atlas Copco, APR Energy, Bredenoord, Byrne Equipment Rental, Caterpillar, Cummins, Energyst, Generac Power Systems, GMMCO Limited, Herc Rentals, HIMOINSA, Kohler-SDMO, Modern Hiring Service, Perennial Technologies, Perfect Hiring Services, Shenton Group, Sudhir Power, United Rentals, and Wagner Equipment.
The U.S. power rental market is set to reach over USD 5 billion by 2034, driven by government efforts to raise electrification rates and continuous upgrades to aging grid infrastructure.
The diesel power rental market is projected to grow at a CAGR of over 3.5% by 2034, led by ongoing digitization and the expansion of data centers in developing countries.
The > 75 kVA - 375 kVA power rental market is projected to exceed USD 8 billion by 2034, supported by rising demand from data centers and government initiatives aimed at advancing digitalization.