03/31/2015 | The North American Rental Generator Market Is on Fire, New Study Reports
Earlier this month, Verify Markets released its North American Power Generation Rental market research report. In the report, the firm announced an impressive finding: the North American (United States and Canada) power rental market is the fastest growing niche segment of the equipment rental industry, today.
For the report, Verify Markets—which specializes in the Industrial, Environmental, Energy, Consumer Products and Water markets—looked specifically at portable power supply units in the 5 kW to 2 MW range, a highly popular sector of the rental generators market.
The units under review were either towable models or containerized units that can be transported via truck or rail. Coincidentally, HIPOWER SYSTEMS specializes in those types of units for rental and other markets.
Verify Markets’ analysis determined that the North American rental generator market is currently valued in excess of $800 million and is experiencing rampant growth. Here at HIPOWER SYSTEMS we are seeing that growth, with strong interest in our portable power generator line for use as rental generators in a variety of sectors. In some cases, more firms are opening generator rental divisions. In others, large companies are purchasing their own fleets of rental generators, either for rent to franchises and other partners or for their own use.
According to Verify Markets, factors driving the growth in the market include: increasing demand of power, aging infrastructure, need for constant power, demand in the oil and gas market, the recovering economy and infrastructure development projects. The company indicated that diesel generators are still the preferred choice but also noted that more stringent regulations are increasing the demand for natural gas generators.
“Generators for temporary power provide constant, reliable and cost-effective solutions during scheduled power shutdowns, new or expanded facilities, power for planned and unplanned events (natural disasters, contingency planning), remote sites and seasonal peak load needs,” the company stated in its Executive Summary. We couldn’t agree more.
As a leading generator provider to the rental industry in the U.S. and Canada, HIPOWER SYSTEMS manufactures portable power systems for virtually every market. To speak with an expert technician about your needs, call 913-495-5557. You can also browse our equipment designed for rental use (or any of our equipment) or review our 2014 article on rental generator selection. While you at our site, sign up for myHIPOWER to gain access to extended site benefits and more.
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