The global Power Rental Market Growth Accelerated by Sustainability Initiatives
The power rental market provides rental generators and services to satisfy temporary or backup power needs across various industries such as construction, mining, oil & gas, and events. Power rental equipment such as generators help meet increasing demand for reliable and affordable power. The global Power Rental Market is estimated to be valued at US$ 10.97 billion in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: Sustainability initiatives by rental companies aimed at reducing environmental impact are accelerating adoption of low-emission power rental equipment. Companies are switching to lower emission solutions like natural gas generators and hybrid systems to reduce carbon footprint. For example, Aggreko launched its hybrid rental solution in 2021 that leverages battery storage to reduce fuel consumption and emissions. Growing consumer preferenc...