IMARC Group has recently released a new research study titled “United States Power Rental Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the United States power rental market?
The United States power rental market size reached US$ 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.6 Billion by 2022, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Power rental refers to the temporary provision of electrical power generation equipment and related services to meet the immediate energy needs of businesses, industries, events, and emergency situations. It involves the rental of generators, transformers, load banks, and other power equipment to ensure uninterrupted power supply during planned or unplanned power outages, maintenance shutdowns, peak demand periods, remote locations, and special events.
Power rental services enable businesses to avoid downtime, maintain productivity, and meet their power requirements efficiently without the need for permanent investments in power infrastructure. In the United States, the power rental market has witnessed significant growth due to its versatility, flexibility, and cost-effectiveness in meeting temporary power demands across various industries and applications.
Report Sample: https://www.imarcgroup.com/united-states-power-rental-market/requestsample
Market Growth Drivers and Trends:
The market in the United States is primarily driven by the growing need for temporary power solutions in various end-use sectors. In line with this, the considerable rise in infrastructure development projects is resulting in an augmented demand for uninterrupted operations at construction sites for a specific time period, thereby fueling the power rental market.
Moreover, the rising prevalence of natural disasters in the United States is leading to a higher uptake of emergency power backup solutions in critical facilities including hospitals, data centers, telecommunications networks, and government facilities, which in turn is creating lucrative opportunities in the market.
Furthermore, considerable growth in the events and entertainment industry is leading to the rapid utilization of temporary power supply at concerts, festivals, sports events, and trade shows, which is acting as a significant growth-inducing factor for the market.
Key Market Segmentation:
The report has segmented the market into the following categories:
Breakup by Fuel Type:
- Diesel
- Natural Gas
- Others
Breakup by Equipment Type:
- Generator
- Transformer
- Load Bank
- Others
Breakup by Power Rating:
- Up to 50 kW
- 51 –500 kW
- 501 –2,500 kW
- Above 2,500 kW
Breakup by Application:
- Peak Shaving
- Standby Power
- Base Load/Continuous Power
Breakup by End Use Industry:
- Utilities
- Oil & Gas
- Events
- Construction
- Mining
- Data Centers
- Others
Breakup by Region:
- Northeast
- Midwest
- South
- West
Explore Full Report Description At: https://www.imarcgroup.com/united-states-power-rental-market
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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