The Mobile Power Generation Equipment Rentals Market is being driven by Increasing infrastructural activities
The Mobile Power Generation Equipment Rentals Market is expected to grow at a CAGR of 5.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 570.8 million. In the realm of mobile power generation equipment rentals, natural gas-fueled generators have gained significant traction due to the affordability and efficiency of this non-renewable resource. Natural gas, a preferred choice among fossil fuels, offers lower operating costs and higher efficiency compared to other conventional fuels. In 2023, natural gas-fired combined cycle power plants continued to dominate the electricity generation sector, with the United States leading the charge as the largest consumer, contributing approximately 43% of the total energy source. The capacity utilization rate for combined cycle gas turbine (CCGT) plants has witnessed a notable rise, reaching an average of approximately 57% in 2023, owing to advancements in operational efficiency.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
232 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.1% |
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Market growth 2025-2029 |
USD 570.8 million |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
4.7 |
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Key countries |
US, Canada, China, Japan, Saudi Arabia, India, Brazil, UAE, UK, and South Africa |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Mobile Power Generation Equipment Rentals Market encompasses a range of offerings including generator sets, power systems, and power units. These offerings cater to various power needs, from mobile power plants to energy and power management systems. Key components include power distribution systems, grids, and units, as well as power cables, connectors, control panels, enclosures, and accessories. Services such as maintenance kits, parts, and repairs are also provided, along with power plant operation, design, engineering, optimization, analysis, simulation, protection, automation, control, monitoring, reliability, and availability expertise.
The Mobile Power Generation Equipment Rentals market is a segment of the broader specialized consumer services industry. This market specifically focuses on the rental of mobile power solutions, primarily diesel generators, to businesses and individuals in need of temporary or emergency power generation. According to Technavio's market research, the global specialized consumer services market encompasses the revenue generated by various providers of consumer services, such as residential services, home security services, legal services, personal services, renovation and interior design services, consumer auction services, wedding services, and funeral services. The report excludes consumer services classified under casino and gaming, hotel, resorts, and cruise lines; leisure facilities; restaurants; and education services. In the context of this research, the Mobile Power Generation Equipment Rentals market contributes to the specialized consumer services sector by offering temporary power solutions to businesses and individuals.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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