March 08, 2024 06:57 ET | Source: Research and Markets Research and Markets
Dublin, March 08, 2024 (GLOBE NEWSWIRE) -- The "US Generator Rental Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering. The U.S. generator rental market was valued at $2.58 billion in 2023 and is expected reach a value of $3.24 billion by 2029, growing at a CAGR of 3.85% from 2023 to 2029 9kva generator
The U.S. generator rental market report contains exclusive data on 25 vendors. Aggreko, Ashtead Group, Atlas Copco, Herc Rentals, and United Rentals are some of the key players in the U.S. generator rental market. The competitive landscape characterizes the U.S. generator rental market, prompting key players to engage in strategic partnerships and collaborations. Companies are forming alliances to expand their regional footprint, offer a comprehensive range of services, and enhance their technological capabilities. The rising power outages, whether due to severe weather events, grid vulnerabilities, or maintenance activities, are a crucial driver for generator rentals. Over the past 20 years, the number of power outages caused by bad weather has increased, placing pressure on the aging electrical grid in the U.S. The frequency and length of power outages have grown due to this. Businesses and industries recognize the importance of reliable backup power sources to ensure uninterrupted operations, creating a heightened demand for generator rental services. Hosting events, festivals, and temporary installations creates a substantial demand for generator rentals in the U.S. Events ranging from music festivals to corporate gatherings require reliable power sources for lighting, sound systems, catering equipment, and other essential components. Generator rental companies cater to this demand by providing temporary power solutions tailored to the unique requirements of various events, contributing to the market's overall growth. U.S. GENERATOR RENTAL MARKET INSIGHTS
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