NORTH AMERICA POWER RENTAL MARKET SIZE WAS VALUED AT USD 4.49 BILLION IN 2022 AND IS EXPECTED TO REACH USD 6.01 BILLION BY 2029, GROWING AT A CAGR OF 4.24% FROM 2022-2029.

The North America Power Rental Market Research Report Includes Segments By

  • Fuel: Natural Gas, Diesel, and Others (Propane, Hydrogen, Renewable Sources)
  • Power Rating: <75KVA, 75-375KVA, 375-1,000KVA, and Above 1,000 KVA
  • Equipment: Generators, Load Banks, Transformers, and Others
  • End-User: Construction, Retail, Oil & Gas, Mining, Events, Utilities, IT & Data Center, Manufacturing, and Others
  • Application: Standby, Continuous, and Peak Shaving

The Industry Analysis Report Provides Industry Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2023-2029

Licence Types What are these?
GET ACTIONABLE INSIGHTS ON HOW COVID-19 IS IMPACTING YOUR BUSINESS
Enquire Now Download Free Sample

Most Exhaustive Report

icon-pages

174 Pages

icon-table

19 Tables

icon-chart

88 Charts

icon-region

1 Regions

icon-country

2 Countries

icon-company

13 Companies

icon-market

5 Market Segment

NORTH AMERICA POWER RENTAL MARKET REPORT SCOPE

Report Attribute Details
Market Size (2029) USD 6.01 Billion
Market Size (2022) USD 4.49 Billion
CAGR (2022-2029) 4.24%
HISTORIC YEAR 2020-2021
BASE YEAR 2022
FORECAST YEAR 2023-2029
SEGMENTS BY Fuel, Power Rating, Equipment, End-User, and Application
END-USERS Construction, Retail, Oil & Gas, Mining, Events, Utilities, IT & Data Center, Manufacturing, and Others
KEY VENDORS United Rentals, Sunbelt Rentals, Herc Rentals, Aggreko, Caterpillar, Atlas Copco, Cummins Inc., and KOHLER

The North America power rental market size by value accounted for USD 4.49 billion in 2022, which is expected to reach USD 6.01 billion by 2029 growing at a CAGR of 4.24%. Government outlay towards electrification, infrastructure, and demand for power generation equipment during power outages had increased the need and acceptance of rental equipment in the North American market.

The North American equipment rental market is expected to grow steadily during the next four years. Factors such as the high government spending on infrastructure development, population redistribution brought on by a vibrant job market with considerably high opportunities for remote and hybrid work, and high acceptance of sharing and rental housing models among younger generations, the complexity of power equipment, and the environment-friendly nature of renting have contributed to a surge in demand for power equipment. Thus, all these factors will contribute to a long-term, multi-decade shift from ownership to renting power equipment.

KEY HIGHLIGHTS

  • The Federal Government of Canada took measures to advance investment tax credit for hydrogen, storage, and net-zero technologies according to a commitment made in April 2022 as of hydrogen in its Fall Economic Statement in November 2022 which shall drive investments toward clean energy sources.
  • Under the Rural Energy for America Program (REAP), the US Department of Agriculture (USDA) will provide USD 285 million in grants and loans for 844 critical infrastructure development projects in rural areas across 46 states. These projects will enable rural communities to acquire renewable energy systems and energy-efficient farm equipment.
  • The DOE of State and Community Energy Programs (SCEP) attempts to disburse USD 8.8 billion in refunds from the Inflation Reduction Act to Tribes and states for home energy efficiency and electrification projects.
  • The U.S. Department of Transportation has published a Notice of Funding Opportunity (NOFO) for USD 1.5 billion in grant funding through the Rebuilding American Infrastructure with Sustainability and Equity (RAISE) discretionary grant program for 2023. The popular program helps communities nationwide carry out projects with significant local or regional impact. In 2022, RAISE funded 166 projects in all 50 states.
  • Canada announced a USD 964 million program in 2022 to assist smart renewable energy and grid modernization projects that would reduce emissions by investing in clean energy technologies such as wind, solar, storage, hydro, geothermal, and tidal. Several wind farm & solar projects are progressing in regions such as Quebec, Ontario & Alberta, which is expected to trigger the demand for power equipment rental.
  • As of April 2022, Canada’s Strengthened Climate Plan was to invest USD 300 million over five years to ensure that rural, remote, and Indigenous communities using diesel can be powered by clean, reliable energy by 2030.
  • One of the many regulations that could apply to diesel generators is CSA B139, which will apply to all generators in Canada. Naturally, there might also be stricter regional requirements, like Ontario's TSSA code for generators.

Governments Focus on Electrification in Rural and Indigenous Communities to Boost the Demand for Power Rental Equipment

  • Canada’s Smart Renewables and Electrification Pathways (SREPs) Program allocated USD 1.56 billion towards smart renewable energy and electrical grid modernization projects. These projects shall gradually reduce greenhouse gas emissions with increased renewable capacity, which will further support Canada’s energy transition towards a net zero economy by 2050, also attaining 100% net zero electricity by 2035.
  • Focusing on clean power, the Canadian federal government launched the 2030 Emission reduction plan in assurance to support local power solutions and community-driven projects, which are intended to enhance the resilience of energy commodities for forthcoming generations. This plan will increase the number of projects and contribute to the North America power rental market.
  • Under the Rural program, the U.S. government will invest nearly USD 2 billion in infrastructure development programs across rural areas until 2026. Such infrastructure investments will enhance highways, bridges, and tunnels and address highway safety issues. Also, such projects will boost access to agricultural, commercial, energy, or freight facilities that support the economy and offer flexible transportation services to rural regions, as announced in December 2022. Applications for funding worth USD 10 billion were submitted to the Department of Energy, significantly more than the funding amount of just USD 300 million for 2022.
  • As of December 2022, the Minister of Natural Resources Canada had announced an outlay of approximately USD 3 million from the Smart Renewables and Electrification Pathways program for Fraser Basin Council’s Energy Peers in Indigenous Communities (EPIC) Network, a capacity-building program designed to encourage Indigenous leadership in the renewable energy and electrification sectors across British Columbia.

Demand for Leasing Power Equipment Backed by Restoring Power Occurred Due to Natural Calamities in Various Regions of North America

  • A severe storm occurred in Quebec between December 23 and December 25, 2022, and the breezes were 110km/hr in major parts of the province. The effect caused around 7,500 outages and affected about 640,000 people. The storm left 380,000 homes without electricity, and it took around 63 hours to restore 85% of the electricity. Harsh climatic conditions and the need for electricity are raising the demand for rental power generation equipment in the North America power rental market.
  • In 2020, extreme weather events accounted for 1.33 billion outage hours 2020, up 70% since 2019. According to the U.S. Department of Energy, outages cost the U.S. economy USD 150 billion annually. Market surveys of eight economic sectors, including batch manufacturing, healthcare/hospitals, continuous manufacturing, digital economy, government/education, grocery/food stores, and retail, found that a four-hour power disruption costs individual businesses an average of USD 10,000 to USD 20,000.
  • The U.S. Environmental Protection Agency has granted its first certification to Caterpillar's fast reaction natural-gas generator sets for emergency and non-emergency situations. They can also be ordered with different emissions-reduction technologies that reduce NOx levels to as little as 0.5 g/bhp-hr without after-treatment. As customers concentrate on their environmental, social, and governance goals, natural-gas generator sets are becoming more and more appealing to standby power solutions.
  • Aggreko launched its Tier 4 Final-compliant generators in September 2022, a lower-emission fleet of solutions ranging from 25 kW to 1200 kW. The Tier 4 Final generators are intended to fulfill the Environmental Protection Agency’s constricted emissions regulations in the United States and Canada. All items in the fleet can operate using conventional fuels, such as diesel, or can run on bio-based liquid fuel, such as Hydrotreated Vegetable Oil (HVO). Using alternative fuels with the new generators allows consumers to decrease CO2 emissions by 60% per gallon of fuel.

VENDOR LANDSCAPE

  • The key players in the North America power rental market are United Rentals, Sunbelt, Aggreko, Herc Rentals, Atlas Copco, Caterpillar, Cummins, and Kohler power.
  • In 2022, United Rentals announced that it had entered into a definitive agreement to acquire the assets of family-owned Ahern Rentals Inc. for approximately USD 2.0 billion.
  • The top 4 prominent vendors, including United Rentals, Sunbelt, Aggreko, and Herc Rentals, account for 74% of the North America power rental market share.

Frequently Asked Questions

How big is the North America power rental market?

The North America power rental market size was valued at USD 4.49 billion in 2022 and is expected to reach USD 6.01 billion by 2029.

What is the growth rate of the North America power rental market?

The North America power rental market share is expected to grow at a CAGR of 4.24% from 2022-2029.

What are some significant trends in the North America power rental market?

The aging of installed generator equipment to generate demand during the maintenance period and carbon taxation causing disturbances in the market are significant opportunities in the North America power rental market.

Which fuel type is projected to dominate the North America power rental market?

Diesel fuel type is projected to dominate the North America power rental market share. The segment is expected to maintain dominance due to the high demand from players in several industries with large-scale operations.

Which are the key vendors in the North America power rental industry?

The key vendors in the North America power rental industry are United Rentals, Sunbelt Rentals, Herc Rentals, Aggreko, Caterpillar, Atlas Copco, Cummins Inc., and KOHLER.

Download Free Sample

The North America power rental market is expected to grow at a CAGR of approximately 4.24% from 2022 to 2029.

The following factors are likely to contribute to the growth of the North America power rental market during the forecast period:

  • Various Upcoming Projects in 2023 in the US to Drive Demand for Renting Power Equipment During Construction Phase
  • Disruptions Due to Calamities Will Propel Demand for Power Rental Equipment
  • Major Power Outages in the United States
  • Increasing Power Outages Backed by Disruptions in Power Grid Due to Severe Weather Conditions Across Nation
  • Renting Equipment Is Backed by Spike in Energy Prices
  • Emission Reduction Through Equipment Acts as a Major Concern to Power Rental Market

Base Year: 2022

Forecast Year: 2023-2029

The report considers the present scenario of the North America power rental market and its market dynamics for 2023−2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Prominent Vendors

  • United Rentals
  • Sunbelt Rentals
  • Herc Rentals
  • Aggreko
  • Caterpillar
  • Atlas Copco
  • Cummins Inc.,
  • KOHLER

Other Prominent Vendors

  • Generac
  • APR Energy
  • H&E Equipment Services
  • Sunstate Equipment
  • Home Depot Rental

Segmentation By Fuel

  • Natural Gas
  • Diesel
  • Others (Propane, Hydrogen, Renewable Sources)

Segmentation By Power Rating

  • <75KVA
  • 75-375KVA
  • 375-1,000KVA
  • Above 1,000 KVA

Segmentation By Equipment

  • Generators
  • Load Banks
  • Transformers
  • Others

Segmentation By End-User

  • Construction
  • Retail
  • Oil & Gas
  • Mining
  • Events
  • Utilities
  • IT & Data Center
  • Manufacturing
  • Others

Segmentation By Application

  • Standby
  • Continuous
  • Peak Shaving

Section 1 – Introduction

  • Key Insights of North America Power Rental Market
  • Executive Summary

Section 2 – North America Power Rental Market

2.1 Future Outlook – North America Power Rental Market by Value

2.2- North America Power Rental Market- By Segments


2.2.1- North America Power Rental Market by Value

North America Power Rental Market Size and Forecast by Million ($million)

2.2.1.1. Power Rental Market, By Fuel

Diesel, Market Size and Forecast 2020–2029($ Million)

Natural Gas, Market Size and Forecast 2020–2029($ Million)

Others, Market Size and Forecast 2020–2029($ Million)

2.2.1.2 Power Rental Market, By End User

Construction, Market Size and Forecast 2020–2029($ Million)

 Retail, Market Size and Forecast 2020–2029($ Million)

Oil and Gas, Market Size and Forecast 2020–2029($ Million)

Mining, Market Size and Forecast 2020–2029($ Million)

Events, Market Size and Forecast 2020–2029($ Million)

Utilities Market Size and Forecast 2020–2029($ Million)

IT & Data Centers, Market Size and Forecast 2020–2029($ Million)

Manufacturing, Market Size and Forecast 2020–2029($ Million)

Others, Market Size and Forecast 2020–2029($ Million)

 

2.2.1.3 Power Rental Market, By Equipment

Generator, Market Size and Forecast 2020–2029($ Million)

Load Bank, Market Size and Forecast 2020–2029($ Million)

Transformer, Market Size and Forecast 2020–2029($ Million)
Others, Market Size and Forecast 2020–2029($ Million

 

2.2.1.4 Power Rental Market, By Application

Standby power, Market Size and Forecast 2020–2029($ Million)

Continuous power, Market Size and Forecast 2020–2029($ Million)
Peak shaving, Market Size and Forecast 2020–2029($ Million)

 

2.2.1.5 Power Rental Market, By Power Rating

 (0-50KW) Market Size and Forecast 2020–2029($ Million)

 (50-500KW) Market Size and Forecast 2020–2029($ Million)

 (500-2500KW) Market Size and Forecast 2020–2029($ Million)

 (Above 2500KW) Market Size and Forecast 2020–2029($ Million)

 

2.2.1.6 Power Rental Market, By Country

US Power Rental Market Size and Forecast 2020-2029

Canada Power Rental Market Size and Forecast 2020-2029


Section 3-Geographical Analysis

Key Economic cities in UK

 

Section 4- Market Dynamics

  • Market Trends
  • Market Drivers
  • Market Opportunities
  • Market Restraints

 

Section 5 – Technological Development
Section 6– Competitive Landscape
1. Company Profile of Major Vendors
2. Other Prominent vendors


Section 7 – Report Summary

1. List of Abbreviations

Section 8– Appendix (Report Scope & Definition)
1. Research Methodology
2. Market Definition, Inclusion & Exclusion

  1. North America Power Rental Market ($ million)
  2. Global Power Rental Market by Geography 2022
  3. North America Power Rental Market ($Million)
  4. Global electricity demand
  5. US Power Rental Market ($Million)
  6. Canada Power Rental Market ($Million)
  7. Power rental by end user 2022(%)
  8. Natural Gas power rental by value ($ million)
  9. Diesel power rental by value ($ million)
  10. Others, power rental by value ($ million)
  11. 75-375 KVA power rental by value ($ million)
  12. 375-1,000 KVA power rental by value ($ million)
  13. Above 1,000 KVA power rental by value ($ million)
  14. Generators power rental by value ($ million)
  15. Load Bank power rental by value ($ million)
  16. Transformer power rental by value ($ million)
  17. Others power rental by value ($ million)
  18. Construction power rental by value ($ million)
  19. Retail power rental by value ($ million)
  20. Oil & Gas power rental by value ($ million)
  21. Mining power rental by value ($ million)
  22. Events power rental by value ($ million)
  23. Utilities power rental by value ($ million)
  24. IT & Datacentre power rental by value ($ million)
  25. Manufacturing power rental by value ($ million)
  26. Others power rental by value ($ million)
  27. Standby power rental by value ($ million)
  28. Continuous power rental by value ($ million)
  29. Peak shaving power rental by value ($ million)
  30. US Energy Consumption by source 2021
  31. US, Natural Gas power rental by value ($ million)
  32. US, Diesel power rental by value ($ million)
  33. US, Others, power rental by value ($ million)
  34. US,
  35. US ,75-375 KVA power rental by value ($ million)
  36. US ,375-1,000 KVA power rental by value ($ million)
  37. US, above 1,000 KVA power rental by value ($ million)
  38. US, Generators power rental by value ($ million)
  39. US, Load Bank power rental by value ($ million)
  40. US, Transformer power rental by value ($ million)
  41. US, Others power rental by value ($ million)
  42. US ,Construction power rental by value ($ million)
  43. US, Retail power rental by value ($ million)
  44. US, Oil & Gas power rental by value ($ million)
  45. US, Mining power rental by value ($ million)
  46. US, Events power rental by value ($ million)
  47. US, Utilities power rental by value ($ million)
  48. US, IT & Datacentre power rental by value ($ million)
  49. US, Manufacturing power rental by value ($ million)
  50. US, Others power rental by value ($ million)
  51. US, Standby power rental by value ($ million)
  52. US, Continuous power rental by value ($ million)
  53. US, Peak shaving power rental by value ($ million)
  54. Canada, Natural Gas power rental by value ($ million)
  55. Canada, Diesel power rental by value ($ million)
  56. Canada, Others, power rental by value ($ million)
  57. Canada,
  58. Canada,75-375 KVA power rental by value ($ million)
  59. Canada ,375-1,000 KVA power rental by value ($ million)
  60. Canada, above 1,000 KVA power rental by value ($ million)
  61. Canada, Generators power rental by value ($ million)
  62. Canada, Load Bank power rental by value ($ million)
  63. Canada, Transformer power rental by value ($ million)
  64. Canada, Others power rental by value ($ million)
  65. Canada, Construction power rental by value ($ million)
  66. Canada, Retail power rental by value ($ million)
  67. Canada, Oil & Gas power rental by value ($ million)
  68. Canada, Mining power rental by value ($ million)
  69. Canada, Events power rental by value ($ million)
  70. Canada, Utilities power rental by value ($ million)
  71. Canada, IT & Datacentre power rental by value ($ million)
  72. Canada, Manufacturing power rental by value ($ million)
  73. Canada, Others power rental by value ($ million)
  74. Canada, Standby power rental by value ($ million)
  75. Canada, Continuous power rental by value ($ million)
  76. Canada, Peak shaving power rental by value ($ million)
  77. US Power Rental Market, Top cluster share 2022
  78. Canada Power Rental Market, Top cluster share 2022
  79. Energy Generation in Ontario 2021
  80. Existing Capacity by Energy Source in MW 2021
  81. Market share 2021(% share)
  82. United Rentals, Total Revenue ($ Billion)
  83. Sunbelt rentals, Total equipment rental by segment 2021(% share)
  84. Herc Rentals, Total Revenue ($ Billion)
  85. Aggreko, Total sales by segment 2020 (% share)
  86. Atlas Copco, Total Revenue ($ billion)
  87. Cummins, Total Revenue ($ billion)

 

List of Tables

  1. By Fuel Type, Total Incremental Opportunity, 2022-2029
  2. By Power Rating, Total Incremental Opportunity, 2022-2029
  3. By Equipment, Total Incremental Opportunity, 2022-2029
  4. By End user, Total Incremental Opportunity, 2022-2029
  5. By Application, Total Incremental Opportunity, 2022-2029
  6. Clean Energy Projects in Canada -2022
  7. Upcoming Projects in US 2023
  8. Natural Disasters across US in 2022(January- September)
  9. Natural Disasters in Canada
  10. Power Outages by Region 2022
  11. Average Electricity price per KWh by Region
  12. Developments/ projects
  13. Power Rental Market size & forecast, by type ($ million)
  14. Power Rental by Fuel Market Size & Forecast ($ million)
  15. Power Rental by Power Rating Market size & Forecast ($ million)
  16. Power Rental by Application Market Size & Forecast ($ million)
  17. Power Rental by Equipment Market Size & Forecast ($ million)
  18. Power Rental by End-user Market Size & Forecast ($ million)
  19. List of abbreviations

Select a license type that suits your business needs

single-user Single User Licence
$2500.00
  • Report accessible by one user only
  • Free 10% or 3 days of customization
  • Free post-sale service assistance
  • Continuous support through email
Best Value Tag
5-user 5 User Licence
$3000.00
  • Report accessible by 5 users within the organization
  • Free 15% or 4.5 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
corporate.png Corporate Licence
$3500.00
  • Free Datasheet worth $1500
  • Report accessible by the entire organization
  • Free 20% or 6 days of customization
  • Free post-sale service assistance
  • Continuous support through email and telephone
  • Direct access to lead analysts
  • Free analyst hour
  • Free Upgrade: If an updated report published within 180 days of purchase, you will get the revised report free of charge
datasheet.png Datasheet Licence
$2000.00
  • Report accessible by 1 user only
  • Free 15% or 32 hours of customization
  • Free post-sale service assistance
  • Direct access to lead analysts

Our Clients

Licence Types What are these?

Interested in data center portfolio for this report?
Click here

Our Clients Speak

erick

"The report by Arizton was spot on. It not only gave us insight into the pro audio market, we used it to raise funds for our company. The data proved (to the VC we pitched to) that the market was large enough for our company to not only survive but also grow."

Erik Young
CEO, Co-founder
Audink Inc., DBA Audios
SPEAK WITH OUR ANALYST

Want to know more about the report or any specific requirement?

Click to Email +1-312-235-2040

Want to Customize the Report?

Click Here

Why Arizton?

  • 100% Customer Satisfaction
  • 24x7 availability – we are always there when you need us
  • 200+ Fortune 500 Companies trust Arizton's report
  • 80% of our reports are exclusive and first in the industry
  • 100% more data and analysis
  • 1000+ reports published till date