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US Power Rental Market Research Report Information By Fuel Type (Diesel, Gas, and Others), By Application (Base Load, Stand by Power, Peak Shaving And Others), By End Users (Oil & Gas, Utilities, Shipping, Manufacturing, Mining, Construction And Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

ID: MRFR/E&P/11874-US | 100 Pages | Author: Garvit Vyas| December 2023

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us power rental market outlook

The United States emerged as the frontrunner in the power rental market, commanding a substantial market share of 76.30% in 2016, with an impressive market value of USD 2,879.5 million. Projections indicate that the U.S. market is poised to exhibit the highest Compound Annual Growth Rate (CAGR) of 8.01% during the forecast period. Following closely, Canada secured the position of the second-largest market in 2016, with a valuation of USD 894.4 million, and is anticipated to grow at a commendable CAGR of 7.49%. The robust growth of the power rental market in the United States can be attributed, in large part, to the dynamism of the construction industry, a stalwart driving force behind the nation's economic prowess. With a declining unemployment rate, there is an upswing in investments in both residential and commercial construction in the U.S. This, in turn, augments consumer confidence and spending within the sector, injecting a surge of money into the economy. The ripple effect of increased spending in construction translates to heightened demand for goods and services, further fueling the impetus in the power rental market. Within the realm of power sources, diesel emerged as the dominant force in 2016, capturing the largest market share at 60.87%, equating to a market value of USD 1,752.8 million. Diesel is projected to continue its ascendancy, with the highest anticipated CAGR of 8.34% during the forecast period. Gas, holding the second-largest market share in 2016 at USD 966.0 million, is poised to grow at a commendable CAGR of 7.75%. Examining power rental applications, the Base Load segment took precedence in 2016, commanding the largest market share of 44.69%, equivalent to a market value of USD 1,286.8 million. The Base Load segment is anticipated to exhibit the highest CAGR of 8.73% during the forecast period. Following closely, the Peak Shaving segment, valued at USD 821.6 million in 2016, is projected to grow at a robust CAGR of 7.62%. In terms of end-users, the Utilities segment secured the leading position in 2016, capturing the largest market share of 29.05% and a market value of USD 836.6 million. The Utilities segment is forecasted to experience the highest CAGR of 9.39% during the forecast period. Conversely, the Oil & Gas segment, holding the second-largest market share in 2016 at USD 784.8 million, is projected to grow at a substantial CAGR of 6.90%. The comprehensive analysis of the power rental market in the U.S. and Canada underscores the robust growth potential fueled by construction industry dynamics, diverse power sources, applications, and end-user segments. The evolving landscape in these regions signifies not only sustained market dominance but also an avenue for continuous innovation and strategic positioning in the global power rental arena.

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