Global Generator Rental Market: Key Highlights
The global generator rental market was valued at ~US$ 3.9 Bn in 2018, and is anticipated to expand at a CAGR of ~5% during the forecast period.
Among the fuel types, the diesel segment accounted for a major share of the global generator rental market in 2018. Diesel generators are the most fuel-efficient amongst all types of generators, and hence, they provide the most stable power supply across all applications.
Among the power ratings, the above 100kVA segment held a significant share of the global generator rental market in 2018. This is primarily ascribed to the rise in the demand for these generators in the utilities and oil & gas sectors.
Among the end users, the utilities segment held a major share of the global generator rental market in 2018.
The Middle East & Africa is estimated to offer immense growth potential to the global generator rental market in the next few years.
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Key Drivers and Restraints of Global Generator Rental Market
The construction sector is one of the major end users of rental generators. Key developing countries are particularly bringing in various reforms and regulations to boost infrastructure development and the real estate sector. This growth is anticipated to augment the global generator rental market during the forecast period.
In 2022, Qatar would be hosting the FIFA World Cup, to become the first Gulf nation to do so. Qatar has begun preparing stadiums and facilities for the World Cup 2022, and it would be investing around US$ 6 Bn. Thus, the demand for rental generators is extremely high in the country.
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Global Generator Rental Market: Key Developments
In June 2018, Aggreko Plc, a Glasgow-based (U.K.) global provider of portable power generation and climate control solutions, announced to have acquired Generator Hire Service, an Australia-based generator rental company, for US$ 3.6 Mn (GBP 2.7 Mn).
In January 2018, Aggreko planned to expand its China operations, announcing a joint venture with Shanghai Yude, a power rental company. Aggreko would be holding 21.5% stake in the new company. The new company’s operations would be managed by Shanghai Yude in line with Aggreko’s class-leading standards and procedures.
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The global generator rental market is highly fragmented, with the presence of a large number of players.
Rise in technological advancements, strong brand recognition, strong position of established players, and strict government regulations pose a barrier to the entry of new players in the global generator rental market.
Key players operating in the global generator rental market are Caterpillar Inc., Cummins Inc., Generac Holdings Inc., Himoinsa S.L., AKSA Power Generation, KOEL Green, Atlas Copco AB, Aggreko PLC, Kohler Co., United Rentals, Inc., APR Energy, AGCO Corporation, Herc Rentals Inc., Ashtead Group plc, Wartsila, and Cooper Equipment Rentals.
Global Generator Rental Market: Segmentation
Generator Rental Market by Power Rating
Below 100 kVA
100 kVA – 500 kVA
501 kVA – 1,000 kVA
Above 1,000 kVA
Generator Rental Market by Fuel
Diesel
Natural Gas
Others (Including Gasoline, Liquefied Petroleum Gas (LPG), and Biogas/Biofuels)
Generator Rental Market, by End User
Utilities
Oil & Gas
Mining
Construction
Events
Others
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