CHICAGO, Feb. 29, 2024 /PRNewswire/ -- Arizton publishes latest focus insight report on the US generator rental market, APAC generator rental market, and Europe generator rental market.
The US Generator Rental Market to Reach $3.24 Billion by 2029
The US generator rental market is witnessing a rising demand for temporary power solutions across various sectors. Events, construction projects, and emergency response needs drive the demand for portable and reliable generators. Generator rental companies are positioned to meet this demand, offering flexible solutions that cater to diverse requirements, contributing to the market's steady growth.
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Technological advancements, including remote monitoring and telematics, are reshaping the market's landscape in the US. Market players leverage these technologies to optimize fleet management, implement proactive maintenance strategies, and enhance operational efficiency. Integrating advanced monitoring systems provides customers with transparency and data-driven insights, setting a new standard for generator rental services.
New Product Innovations
- In 2023, Cummins, a prominent vendor, added 175kW and 200kW natural gas standby generator sets to its fleet for North American consumers. These two new generator sets are a part of Cummins constant investment in new and sustainable technologies as part of Destination Zero, the company's strategy to reach zero emissions through its products.
- In 2023, Kohler, one of the key vendors, introduced 700- and 750-kW models in its KD Series industrial gen-set line for 60 Hz markets. These units, like other KD gen-sets, are compatible with certified renewable hydrotreated vegetable oil and diesel fuels without needing modifications. They are manufactured in Kohler's U.S. and France facilities. A KD800 unit for 50 Hz applications will be produced in France and released in late 2023.
Key Vendors: Aggreko, Ashtead Group, Atlas Copco, Herc Rentals, United Rentals, Aksa Power Generation, AquaTech USA, Carrier, Caterpillar, Cummins, Daikin, Doosan Portable Power, Duthie Power Services, Generac Power Systems, Grandwatt, H&E Equipment Services, HIMOINSA, Home Depot, Kohler, Nishio, Prime Power Rentals, R.S. Equipment, Red-D-Arc, Taylor Power Systems, and Trinity Power
The APAC Generator Rental Market to Reach USD 1.84 Billion by 2029
Rising demand for sustainable solutions, increased digitization in equipment, and the necessity of power after natural calamities are the rising trends in the APAC generator rental market.
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The APAC region, marked by rapid industrialization and infrastructure development, witnesses a substantial demand for temporary power solutions. Generator rentals play a pivotal role in meeting the power needs of diverse industries, including construction, manufacturing, and events, fueling the market's growth. The rise in digitization is reshaping the generator rental landscape by incorporating advanced technologies such as the Internet of Things (IoT), data analytics, and remote monitoring systems. These innovations enable real-time tracking of generator performance, predictive maintenance, and enhanced operational efficiency, giving businesses more control and visibility into their power solutions. Adopting digital technologies in the APAC generator rental market improves reliability and reduces downtime. With remote monitoring capabilities, companies can closely monitor the status and performance of rented generators, facilitating proactive maintenance and minimizing the risk of unexpected failures. This digitization trend enhances the overall efficiency of power solutions and aligns with the broader technological advancements seen across industries in the APAC region.
New Product Innovations
- In 2023, Caterpillar, one of the key vendors, Caterpillar launched the 115 kVA Cat XQP115 generator set in November 2022, a new mobile power solution that extends the company's lineup of mobile power solutions that meet European Union (EU) Stage V emission standards.
- Aggreko and Cirque du Soleil have maintained a long-standing and successful partnership since 2012. The company has announced the renewal of its long-standing partnership with entertainment company Cirque du Soleil in July 2022. The contract renewal will allow the company to be a key supplier for major Québec based organizations until 2024. The company will continue delivering world-class mobile modular energy supplies across Cirque du Soleil's cross-continental touring productions.
Key Vendors: Aggreko, Atlas Copco, Caterpillar, Cummins, Kohler, Aksa Power Generation, Aver Asia, East Coast Generators, Generac Power Systems, Generators Australia, HIMOINSA, Kaltimex Energy, Kanamoto, Modern Energy Rental, Nishio, Powermak, Sudhir, UMAC, Unicel Autotech and United Rentals
The Europe Generator Rental Market to Reach USD 1.83 Billion by 2029
The Europe generator rental market operates within a regulatory framework that governs environmental standards, emissions, and noise levels. Compliance with these regulations is a critical consideration for market players, influencing equipment selection and operational practices to align with sustainable and legal requirements. France and Italy are showing prominent growth in the market. In France, many companies invest in backup power solutions, including emergency generators, to ensure uninterrupted operations during emergencies. The French government has advised businesses to ensure their backup power generators are in working order, highlighting the critical role of load banks in meeting government recommendations. Italy faces severe energy challenges due to extreme weather conditions such as heavy snowfall, freezing temperatures, avalanches, and scorching temperatures. These conditions can disrupt electricity networks and power generators, leaving thousands without access to power.
The Europe generator rental market's competitive scenario is intensifying, with global and domestic players offering diverse products. A few major players dominate the market in terms of market share. Some companies currently dominating the market are Aggreko, Ashtead Group, Atlas Copco, Caterpillar, Cummins, Kohler, Speedy, Himoinsa, United Rentals, and Loxam Group.
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New Product Innovations
- In 2023, Kohler, one of the key vendors, introduced 700- and 750-kW models in its KD Series industrial gen-set line for 60 Hz markets. These units, like other KD gen-sets, are compatible with certified renewable hydrotreated vegetable oil and diesel fuels, without needing modifications. They are manufactured in Kohler's U.S. and France facilities. A KD800 unit for 50 Hz applications will be produced in France and released in late 2023.
- In 2023, Atlas Copco's energy storage systems utilized lithium-ion batteries in hybrid mode with diesel generators that provided clean and quiet energy for demanding and noise-sensitive applications. They optimize generator performance and reduce fuel consumption by offering uninterrupted operation, rapid recharge, and zero emissions. The combination of these systems with QAS+ generators can significantly lower fuel consumption and CO2 emissions. Sustainability-conscious industries can benefit from these efficient and cost-effective solutions, ensuring quieter and eco-friendly operations.
Key Vendors: Aggreko, United Rentals, Ashtead Group, Atlas Copco, Caterpillar, Cummins, Kohler, Loxam Group, Speedy, HIMOINSA, Generac Power Systems, Bredenoord, Kiloutou, Boels Rental, Collé Rental & Sales, Rentaload, SALTI, Onis Visa, COELMO, Powering, Bo-Rent, Aksa Power Generation, Power Electrics, Woodlands Power, Bells Power Group, GAP Group, Grupel, and GAY ELECTRICITÉ
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