Market overview:
Renting electricity, also known as rental power, has many advantages when it comes to overbought electrical equipment. Rental generators are efficient compared to purchased generators because they offer flexibility in required power rating, have negligible installation and maintenance costs, are readily available in the short term, and have lower upfront costs, among other features.

Recent developments:
STOCKHOLM, Sweden Atlas Copco AB has consented to an arrangement with Altor 2003 Fund to secure Dynapac AB of Sweden, a provider of compaction and clearing equipment.

Market Drivers and Restrains:
Leased electricity is generally preferred in areas with poor grid infrastructure, including islands present in the Asia-Pacific and Latin America regions. The mining business is one of the fundamental customers of rental power. Since the mining locales are not associated with the network, they get their power from generators that are briefly leased for a proper period. Assembling businesses have a moderate interest for rental generators when there is upkeep of the current power supply framework, for example, bought generator sets, or when there is a requirement for extra force in the event of peak load interest, or when there is an inability to a brief period. Consequently, the development of the power rental market is exceptionally subject to enterprises whose power supply from the grid is feeble.

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https://www.marketdataforecast.com/market-reports/power-rental-market

Report is segmented as:
By Fuel:
• Diesel
• Natural gas
By Power rating:
• Upto 50 Kw
• 51- 500 Kw
• 501- 2500 Kw
• Above 2500 Kwbg
By Equipment:
• Generator
• Transformer
• Load bank
• Others
By End User:
• Utilities
• Oil and gas
• Events
• Construction
• Mining
By Application:
• Peak shaving
• Base load
• Standby

Geographical Segmentation:
Asia-Pacific accounted for a significant share in 2020, due to the rapid expansion of commercial spaces, including shopping malls, hotels, and retail stores, which in turn dramatically boosted demand for a stable power supply, thereby increasing rental usage Of electricity. Southeast Asian countries such as Thailand and Indonesia are experiencing high business infrastructure development due to increased public spending on public facilities. Furthermore, rapid digitization coupled with the dominant Industrial Revolution 4.0 is likely to provide a substantial boost to the expansion of the industry.

Impact of COVID-19 on Power Rental Market:
The global impact of COVID-19 has been staggering and unprecedented, with electricity rental equipment and services negatively impacting demand across all regions amid the pandemic. According to our analysis, the global market showed a 12.9% decline in 2020. The market is expected to decline from $ 9.78 billion in 2021 to $ 16.70 billion in 2028 at a CAGR of 7, 9% during the 2021-2028 period. The sudden increase in CAGR can be attributed to this market's demand and growth returning to pre-pandemic levels once the pandemic ends.

Key market players:
The key players operating in the global power rental industry include Atlas Copco AB, Caterpillar, United Rentals, Cummins, Inc., Aggreko, Generac Power Systems, Inc., Kohler Co., Ashtead Group plc., HERC Rentals Inc., and Wacker Neuson SE. Other players operating in this market include Speedy Hire Plc., Bredenoord, and Allmand Brothers.