Powering Asia Pacific: Growth and Challenges in the Dynamic Power Rental Market

Press Release

apac power rental equipment market

SAN ANTONIO, TX, UNITED STATES, November 28, 2023 -- A comprehensive market analysis by Verify Markets reveals that the Asia Pacific Power Rental Market is on a significant growth trajectory, valued at $1,610.3 million USD in 2023. The market is poised for a steady expansion, projecting a compound annual growth rate (CAGR) of over 4.0 percent from 2023 to 2030. Key growth drivers include an unreliable power grid, burgeoning demands from construction, mining, and mission-critical facilities, a flourishing entertainment industry, and the increasing integration of renewable energy sources.

India stands out as the leading power rental market in the Asia Pacific, with 35.0% of the market share and a forecasted CAGR of over 5.0 percent. The market in India is primarily propelled by rapid advancements in major energy-intensive industries such as construction, manufacturing, mining, and oil & gas.

Despite the robust growth expected in the region, the power rental market faces notable challenges. High competition, a slowdown in manufacturing sectors, and a shortage of skilled personnel are some of the critical issues confronting the market.

Approximately 80.0 percent of rental generators in the region currently operate on diesel, favored for their ease of operation, low maintenance, extended operating life, and robust fuel availability. However, natural gas generators are gaining ground, particularly in the oil & gas segment, where they can utilize syngas byproducts from wellheads, reducing flaring and enhancing environmental sustainability.

In terms of technology innovation and trends, the market is increasingly moving towards energy-efficient and eco-friendly technologies to align with stringent emission standards at the end-user level. The mining industry emerges as one of the largest users of power rental services, closely followed by utilities. Prominent players in this market include Aggreko plc, Caterpillar Inc., Coates Group Holdings Pty Limited (Seven Group Holdings), and APR Energy (Atlas Corp.), among others.

This report provides an in-depth analysis of the overall Asia Pacific Power Rental Market. The report captures various market dynamics such as market drivers, market restraints, major trends, and competitive landscape in addition to the following:

  • Total Market Size, Growth Rate, and Revenue Forecasts (2023-2030)
  • Market Share by Countries Australia, India, Indonesia, Bangladesh, Philippines, Malaysia, New Zealand, and Rest of the Asia Pacific)
  • Market Share by Segment (Transactional vs Power Projects)
  • Total Market Share by Company Revenues
  • Market Share by End Users (Mining, Utilities, Construction, Oil & Gas, Manufacturing, and others.)
  • Market Share by Fuel (Diesel vs Natural gas)
  • Market share by Output (<100KW, 100-500KW, 500-1,000KW, >1,000KW)
  • Market Share by Application (Prime Power, Peak Shaving, Standby, and Continuous)

A copy of the 2023 Asia Pacific Power Rental Market report can be purchased at www.verifymarkets.com. Follow us for more updates on Twitter @verify_markets.

About Verify Markets:

Verify Markets is a global B2B market research and consulting firm. Our project teams are comprised of industry market experts, creative thinkers, business analysts, and independent consultants located around the world. We work with our clients to bring solutions to every project and deliver reliable data and trends based on primary research. Contact us to see how we can help deliver valuable data and insights to your organization.

Verify Markets’ research methodology consists of extensive primary interviews with key participants in the industry along with analysis of secondary resources to validate information. For more information on this report and other research (including custom reports and consulting), contact info@verifymarkets.com or call +1 210.595.9687.