Middle East, GCC and Saudi Arabia Power Rental Market Size By Equipment(Generators, Transformers), By Power Rating(Upto 50 KW, 51 KW – 500 KW), By End-User(Oil & Gas, Construction, Manufacturing), By Geographic Scope And Forecast
Middle East GCC and Saudi Arabia Power Rental Market
Middle East, GCC and Saudi Arabia Power Rental Market Size By Equipment(Generators, Transformers), By Power Rating(Upto 50 KW, 51 KW – 500 KW), By End-User(Oil & Gas, Construction, Manufacturing), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Middle East, GCC and Saudi Arabia Power Rental Market Size By Equipment(Generators, Transformers), By Power Rating(Upto 50 KW, 51 KW – 500 KW), By End-User(Oil & Gas, Construction, Manufacturing), By Geographic Scope And Forecast
Middle East, GCC and Saudi Arabia Power Rental Market Size And Forecast
Middle East, GCC and Saudi Arabia Power Rental Market size was valued at USD 541.29 Million in 2024 and is projected to reach USD 941.93 Million by 2031, growing at a CAGR of 7.17 % during the forecast period 2024-2031.
With the rising consumption of electricity owing to various reasons including urbanization, infrastructural development, growing population and weather conditions are likely to result in growing demand for power backup solutions such as power rentals market. The Middle East, GCC and Saudi Arabia Power Rental Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Power Rental?
So, power rental? Think of it as renting a generator – gasoline, diesel, you name it. But it's way more than just the equipment; you're getting a whole power setup that actually works, with the flexibility to make it bigger or smaller as needed. Power rental gives businesses dependability, adaptability, speed, and real cost savings when those pesky power outages strike. These services are around to help communities, keep the grid stable, and give companies that extra boost they need. You see it everywhere – construction sites, mines, even oil & gas operations. And with power shortages predicted to become more frequent, expect the demand for power rental equipment to rise, which means growth in the market. Basically, power rental systems are there for tons of industries when the lights go out, so businesses can keep going. Plus, as the population keeps growing and developing countries need more and more power, that need for a solid backup plan is only going to get bigger.
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Middle East, GCC and Saudi Arabia Power Rental Market Overview
The energy sector? It's huge for GCC countries. Way beyond just keeping the lights on, it fuels their GDP and shapes their growth. And get this – these countries have serious climate and water challenges. Energy is key to making sure everyone has access to water and food! Because fresh water is so rare but everyone needs it, GCC nations rely heavily on desalination. That means the government invests big in those plants and in getting the water distributed. On top of that, electricity use is soaring – more people, bigger cities, new construction! All that drives up demand for backup power, like the power rentals market, which kicks in when the grid goes down. The GCC is also attracting investment, with a thriving tourism scene and tons of global companies moving in. Take the UAE, for example. The FDI there jumped to $20.7 billion in 2021 – a 4% increase from the year before! That's according to the UNCTAD World Investment Report 2021. However, protecting the environment is a priority. Middle Eastern countries are getting serious about pollution from power plants, including noise from diesel generators. Agencies like the TRA in the UAE are tightening regulations for those generators.
Middle East, GCC and Saudi Arabia Power Rental MarketSegmentation Analysis
The Middle East, GCC and Saudi Arabia Power Rental Market is segmented by Equipment, Power Rating, End-User, and Geography.
Middle East, GCC and Saudi Arabia Power Rental Market By Equipment
Generators
Transformers
Load Banks
Others
To Get Summarized Market Report By Equipment-
Wow, in 2021, generators totally dominated, snagging a massive 76.16% of the market! That’s like, USD 1,339.12 Million in generators! And guess what? They're predicted to keep growing by about 7.70% in the coming years. So, what's a generator, anyway? It's basically a machine that spits out electricity as voltage and current, all thanks to this thing called electromagnetic induction. Now, if you’re looking at industrial stuff, you’ll usually see two main types for rent, particularly in the power rental worlddiesel and gas generators. Folks rent these for planned events, but also when things hit the fan and they need emergency power. They're generally offered as a full package, and come in all sorts of sizes, from 125 to 2100 KVA. It's like having portable and scalable power generation right there when you need it!
Middle East, GCC and Saudi Arabia Power Rental Market By Power Rating
Upto 50 KW
51 KW – 500 KW
501 KW – 2500 KW
Above 2500 KW
To Get Summarized Market Report By Power Rating-
Wow, in 2021, the 51 kW – 500 kW range absolutely killed it, taking a massive 40.06% of the market! That's USD 704.43 Million in generator sales. And guess what? They're predicted to keep growing by 7.60% annually! Speaking of growth, Dubai's fashion scene is booming, drawing shoppers from everywhere, just like you wouldn't believe. The Dubai Mall and similar spots are huge attractions, with tour buses packed with shoppers from Russia and China. On top of that, the new reforms and welcoming policies are bringing in foreign investors and seriously boosting construction. All this activity means more demand for power rentals, especially those perfectly sized generators in the 51 kW to 500 kW range.
Middle East, GCC and Saudi Arabia Power Rental Market By End-User
Utilities
Oil & Gas
Construction
Manufacturing
Metal & Mining
Corporate Retail & Events
Others
Wow, in 2021, the construction industry totally dominated, claiming a massive 28.72% of the market – that's USD 505.08 Million! And guess what? It's predicted to keep expanding at a healthy 7.62% annually. So, what's fueling all the construction buzz in certain areas? Well, governments are throwing serious money at things like rail projects, and there's a ton of investment in real estate, particularly in the GCC. With rising labour costs and a bit of an economic slowdown in some spots, renting power backup solutions is turning into a really smart play for builders and subcontractors to save some cash. All in all, construction equipment rental is shaping up to be a great option for anyone taking on a project, whether it's knocking down an old building or starting something completely new.
Middle East, GCC and Saudi Arabia Power Rental Market by Geography
GCC Countries
Saudi Arabia
UAE
Kuwait
Qatar
Rest of GCC Countries
Rest of Middle East
In the global market split, GCC Countries is dominating region-wise while automated is leading according to type. According to projections, the economies of the Gulf Cooperation Council (GCC) would grow by 5.9% overall in 2022, and this recovery is expected to last for the foreseeable future, supported by both the hydrocarbon and non-hydrocarbon sectors. The GCC is made up of six nationsSaudi Arabia, Kuwait, Oman, Qatar, Bahrain, and the United Arab Emirates.
Key Players
The presence of prominent Middle East, GCC and Saudi Arabia Power Rental market players such as Atlas Copco, Aggreko plc, Al Faris Equipment Rental LLC, APR Energy Limited, Cummins Inc, Energy Equipment Rental Co. Ltd. (ENERCO), ENERGIA, Byrne, Generac Power Systems, Jassim Transport & Stevedoring CO. KS.C.P. (OTC), SDMO Industries (Kohler Power Systems EMEA), Saudi Emirati Electric Power Generators, Sunbelt Rentals, Inc., United Rentals, Inc., Wärtsilä, Peax, Zahid Group, Altaaqa Alternative Solutions (Zahid Tractor), and U-Power Generation (FZC).
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.
Key Developments
• Aggreko has signed a seven-year contract with Brazilian energy company EVA Energia for a 10 MW renewable power solution using landfill gas.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Atlas Copco, Aggreko plc, Al Faris Equipment Rental LLC, APR Energy Limited, Cummins Inc, Energy Equipment Rental Co. Ltd. (ENERCO), ENERGIA, Byrne, Generac Power Systems, Jassim Transport & Stevedoring CO. KS.C.P. (OTC), SDMO Industries (Kohler Power Systems EMEA), Saudi Emirati Electric Power Generators, Sunbelt Rentals, Inc., United Rentals, Inc., Wärtsilä, Peax, Zahid Group, Altaaqa Alternative Solutions (Zahid Tractor), and U-Power Generation (FZC).
SEGMENTS COVERED
By Equipment, By Power Rating, By End-User, and By Geography.
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
For a single, multi and corporate client license, the report will be available in PDF format.
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Sample Report for Middle East, GCC and Saudi Arabia Power Rental Market Size By Equipment(Generators, Transformers), By Power Rating(Upto 50 KW, 51 KW – 500 KW), By End-User(Oil & Gas, Construction, Manufacturing), By Geographic Scope And Forecast