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
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMiddle 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?
Renting a generator that uses gasoline, diesel, or any other fuel is referred to as power rental. It provides installed power equipment that is functional as well as a variety of scalable components. Additionally, it provides organizations with dependability, adaptability, speed, and cost effectiveness for managing with a brief power outage. The purpose of the power leasing services is to help communities, stabilize utility power grids, and supply additional energy to businesses and industries. It has numerous uses in the construction, mining, and oil & gas industries as a result. Power supply shortages are predicted to lead to an increase in the use of power rental equipment, which is anticipated to propel global market expansion. During times of power outages, power rental systems meet the needs of many industries because these backup power sources enable businesses to continue operating. Rising population and emerging economies call for an increase in daily power supply.
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Middle East, GCC and Saudi Arabia Power Rental Market Overview
The energy sector has been playing a vital role in the social and economic development of the GCC countries and is contributing to the Gross Domestic Product (GDP). This is primarily because the energy sector plays an essential role in meeting the water and food needs in these countries having a problem of harsh climate conditions and water scarcity. Having scarce amount of little fresh water and such large demand, GCC countries significantly rely heavily on desalination, requiring substantial government investment in desalination facilities and distribution networks. 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 that provides power backup to keep the residential and commercial operations running. The GCC nations has been largely emerged as the major investment hub owing to rising tourism sector and the setting up of key offices of MNCs. For instance, according to the United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2021, foreign direct investment (FDI) into the UAE rose to USD 20.7 billion in 2021, up 4 percent from 2020. The value of FDI inflows to the UAE increased in 2020 as well, by USD 2.01 billion, leading to an 11.24 percent growth. However, the Middle East nations have framed numerous stringent rules to limit carbon emissions from power plant operation which also includes the accepted diesel generator noise levels to decrease noise pollution caused by diesel generator operations. Moreover, several environmental agencies such as Telecommunication Regulatory Authority (TRA) in the UAE have further imposed stringent regulations on diesel power 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-
Generators accounted for the largest market share of 76.16% in 2021, with a market value of USD 1,339.12 Million, and are projected to grow at a CAGR of 7.70% during the forecast period. Generator is a mechanical machine that produces electric energy in the form of voltage and current. It produces electricity based on the principle of electromagnetic induction. For industrial applications there are two types of generators are highly popular for among power rental industry such as diesel generators, and gas generators. These both type of generators are rented for planned and emergency applications. These generators are rented on package services. These are available on different power ratings ranging from 125 to 2100 KVA. These services are delivered in portable and scalable power generation.
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-
51 kW – 500 kW accounted for the largest market share of 40.06% in 2021, with a market value of USD 704.43 Million, and are projected to grow at a CAGR of 7.60% during the forecast period. The region’s appetite for fashion has achieved as much success in the retail sector as Dubai as the city has, been drawing in shoppers from around the region. The presence of the world’s premier shopping facilities such as The Dubai Mall largely attracts shoppers from across the world, with Russian and Chinese shoppers flocking to the malls in tour buses. Additionally, a spate of reform and liberal economic and industry policies in the regional countries are attracting foreign investors and boosting the construction market, which is expecting rapid growth in the coming years. These factors are demand for power rentals under capacity 51 kW to 500 kW.
Middle East, GCC and Saudi Arabia Power Rental Market By End-User
- Utilities
- Oil & Gas
- Construction
- Manufacturing
- Metal & Mining
- Corporate Retail & Events
- Others
Construction accounted for the largest market share of 28.72% in 2021, with a market value of USD 505.08 Million, and are projected to grow at a CAGR of 7.62% during the forecast period. Construction sector is having have a different flavour in the regional market driven by strong government spending on infrastructure, particularly rail projects, and an influx of money into GCC real estate. With labour costs continuing to rise and slow economic growth in major economies, renting power backup solutions is a good way for construction firms, builders, and subcontractors to reduce overhead costs. Construction equipment rental has become a more attractive option for individuals and business owners looking to complete projects in all stages of construction from demolition to new build and refurbishment.
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 |
Research Methodology of Market Research
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