WILMINGTON, DE / ACCESSWIRE / November 4, 2022 / Transparency Market Research Inc. / The global generator rental market size is anticipated to attain valuation of US$ 6.2 Bn by 2031.It is estimated that the global generator rental market will expand at a CAGR of around 5% during the forecast period, from 2021 to 2031.In order to lessen the risk of carbon monoxide (CO) poisoning, industry participants in the rental of generators are focusing more on implementing technological breakthroughs in portable fuel generators. Integration of latest technologies are likely to emerge as one of the major generator rental market trends. Leading global generator rental market players like Aggreko plc., Cummins Inc., and Caterpillar are putting a lot of effort into technical innovation to increase their global reach.

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Rentals of portable fuel generators incorporating built-in sensors that trigger automatic cutoff if CO emission levels rise in confined rooms are becoming more widely available from suppliers. Clean power supply is made possible by gensets, which convert AC electricity to DC power and back again. The global generator rental market is expected to be driven by portable gensets’ built-in sensors, which aid in the production of clean power.

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Power fluctuations have the ability to seriously harm electric devices. In addition to the apparatus or equipment, the disruption could also affect those using it. Power distribution is hampered by inadequate global power system maintenance, which also increases reliance on rented generators. This is also likely to stimulate growth of the global generator rental market in the years to come.

Key Findings of Market Report

  • In the construction business, generators are utilized to ensure the correct operation of large machinery like welders, air compressors, and concrete mixers during a power outage. Construction business is likely to account for considerable generator rental market share. As such, it is projected that the construction industry’s strong rise is expected to emerge as generator rental market growth factors in the years to come.
  • Since a few years ago, there have been more days with power failures due to distribution line failures, transmission line failures, natural disasters, and equipment issues at power producing plants or substations throughout the world. This is anticipated to fuel the global market for generator rental. Power obtained through transmission and distribution lines can also be obtained through the leasing of generators. This factor is anticipated to drive the global generator rental market.
  • Distant manufacturing facilities rely heavily on rental power solutions, including rental generators, as power outages frequently occur in remote parts of many different nations across the world. This is likely to expand the global market for generator rental.
  • For vendors in the generator rental sector, flexible rent packages are generating revenue opportunities. The timing, fuel, and power requirements of a client are taken into account while creating flexible rent packages that will work within their budget plan. In order to supply the exact quantity of electricity to construction sites, mines, and utilities, manufacturers are expanding their range of generator sizes.

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Global Generator Rental Market: Growth Drivers

  • In the oil and gas, telecom, and utility industries, demand for natural gas and diesel generators has risen considerably. Aggreko is rapidly gaining prominence for its natural gas and diesel generators. These generators come with outputs ranging from 125 to 2100 kVA and guarantee transportable, dependable, and scalable power generation.
  • Companies in the generator rental market are developing load-on-demand configuration in which portable generators automatically switch on and off as per the site’s load demand in circumstances when customers’ power demands fluctuate. Customers benefit from reduced fuel use, pollutants, and expenses, which is expected to drive demand in the market.

Global Generator Rental Market: Key Players

Some of the key market players are

  • Generac Power Systems, Inc.
  • Caterpillar Inc.
  • Ashtead Group plc.
  • United Rentals, Inc.
  • Herc Rentals Inc.
  • Cooper Equipment Rentals

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Global Generator Rental Market: Segmentation

Type

  • Diesel
  • Natural Gas
  • Others

Power Rating

  • Below 100 kVA
  • 100 kVA -500 kVA
  • 501 kVA -1000 kVA
  • Above 1000 kVA

End User

  • Utilities
  • Oil & Gas
  • Mining
  • Construction
  • Events
  • Others

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