As per Intent Market Research, the Gas Fueled Power Rental Market was valued at USD 3.3 billion in 2023 and will surpass USD 4.6 billion by 2030; growing at a CAGR of 5.1% during 2024 - 2030.
The gas-fueled power rental market has been growing rapidly in recent years, driven by the increasing demand for flexible, cost-effective, and environmentally-friendly power solutions across a variety of industries. As industries continue to face fluctuating energy demands, gas-powered rental generators have become a reliable solution, providing temporary or emergency power generation without the need for long-term investment in permanent infrastructure. These generators are crucial in sectors such as construction, events and entertainment, and oil and gas, where short-term power requirements are often high and urgent.
Natural gas is the primary fuel used in these power rental solutions, offering several advantages over other fuels such as propane or diesel, including lower emissions and more efficient energy generation. The growing shift toward cleaner and more sustainable energy sources further enhances the attractiveness of gas-fueled power generation, aligning with global energy trends and environmental regulations. The flexibility and scalability offered by gas-powered rental solutions also play a key role in their adoption, as they can cater to both large-scale and smaller, temporary power requirements.
Natural Gas Dominates the Fuel Type Segment Due to Cost and Efficiency
Natural gas is the dominant fuel type in the gas-fueled power rental market, accounting for a significant share of the market due to its cost-effectiveness, efficiency, and lower environmental impact compared to other fuel types. As the world moves toward reducing carbon emissions and increasing energy efficiency, natural gas has emerged as the fuel of choice for temporary power generation. It is especially popular in sectors where high power output is required for limited periods, such as industrial and commercial applications.
The key benefits of using natural gas for rental power generation include lower fuel costs, reduced greenhouse gas emissions, and the availability of established infrastructure in many regions. Additionally, natural gas-powered generators are highly efficient, providing reliable and consistent power for a wide range of applications, from peak load power generation to backup solutions in critical sectors such as oil and gas, utilities, and events.
Above 10 MW Capacity Subsegment Leads in Power Generation
The above 10 MW capacity subsegment is the largest in the gas-fueled power rental market, as it caters to industries and applications that require high-capacity, reliable power generation for large-scale operations. This capacity range is particularly prevalent in industrial applications, utilities, and oil and gas sectors, where large-scale operations demand a constant and robust power supply. The need for such power generation solutions is often driven by infrastructure projects, major events, or ongoing industrial operations that cannot afford power disruptions.
These large-capacity generators provide a flexible and scalable solution for temporary power needs, allowing businesses and industries to operate smoothly without the need for permanent installations. The demand for high-capacity gas-fueled rental generators is expected to continue to grow, as more industries seek efficient, cost-effective, and environmentally-friendly power generation alternatives.
Industrial Applications are the Largest End-User Segment
Industrial applications represent the largest end-user segment in the gas-fueled power rental market. Industries such as manufacturing, mining, and oil and gas require consistent and reliable power generation to ensure uninterrupted production processes. Gas-powered rental generators offer an ideal solution for these industries, providing temporary or backup power during peak demand periods, scheduled maintenance, or emergencies.
The industrial sector has seen significant adoption of gas-fueled power rental solutions due to their ability to support large operations efficiently. These generators are capable of meeting the high power demands of industrial machinery and critical systems while offering a cost-effective and sustainable alternative to traditional power generation sources. With increasing industrial activity and a growing focus on sustainability, the demand for gas-powered rental solutions is expected to expand in the coming years.
Standby Power Generation is the Fastest-Growing Power Generation Type
Standby power generation is the fastest-growing power generation type in the gas-fueled power rental market. Standby generators are typically used as backup solutions during power outages, providing an essential safety net for industries that cannot afford downtime. These generators are particularly crucial in sectors like healthcare, data centers, and manufacturing, where any interruption in power supply can lead to significant losses or safety risks.
The increasing reliance on uninterrupted operations, especially in critical industries, is driving the demand for standby power rental solutions. Standby generators powered by natural gas offer an efficient and environmentally-friendly option for maintaining continuous operations in the event of power failure. As industries place greater emphasis on disaster preparedness and risk mitigation, the adoption of standby power rental solutions is expected to rise.
Asia Pacific is the Fastest-Growing Region Driven by Infrastructure Growth
Asia Pacific is the fastest-growing region in the gas-fueled power rental market, fueled by rapid infrastructure development, industrialization, and an increasing demand for temporary power solutions. Countries such as China, India, and Southeast Asian nations are seeing significant growth in construction, manufacturing, and energy-intensive industries, driving the need for flexible and scalable power generation solutions. The region’s growing focus on clean energy and sustainable practices also contributes to the rising demand for natural gas-powered rental solutions.
Asia Pacific’s fast-growing economies, coupled with a rising middle class and urbanization, make it an attractive market for gas-powered rental power solutions. As infrastructure projects, such as transportation networks, utilities, and commercial developments, continue to expand, the need for reliable and efficient temporary power generation will continue to rise, positioning the region as a key player in the market’s growth.
Leading Companies and Competitive Landscape
The gas-fueled power rental market is highly competitive, with several key players offering a range of rental power solutions. Leading companies such as Aggreko, Cummins Inc., Wärtsilä, and Caterpillar Inc. dominate the market, providing flexible, efficient, and scalable gas-powered rental generators to industries worldwide. These companies invest heavily in technology and innovation to ensure their rental power solutions meet the growing demand for sustainability, reliability, and cost-effectiveness.
The competitive landscape is also characterized by regional players who focus on providing tailored rental solutions to meet the unique needs of local industries. As the market expands, companies are likely to increase their investments in fleet expansion, technological advancements, and partnerships to maintain a competitive edge. The growing demand for gas-powered rental power solutions, particularly in emerging markets like Asia Pacific, is expected to drive further consolidation and competition among leading players.
Recent Developments:
- In December 2024, Aggreko launched a new fleet of LNG-powered generators for rental, offering enhanced efficiency and lower emissions for industrial and commercial applications.
- In November 2024, Caterpillar Inc. introduced a new range of gas turbine rental solutions to support emergency and standby power generation needs across multiple industries.
- In October 2024, United Rentals, Inc. expanded its gas-powered equipment rental portfolio, adding advanced gas turbines and CHP units for temporary power solutions in large-scale industrial projects.
- In September 2024, Atlas Copco introduced a new line of mobile gas-powered generators designed for use in remote construction and event sites, offering low noise and high fuel efficiency.
- In August 2024, General Electric expanded its rental business by offering gas turbine rentals for long-term industrial and utility projects, focusing on renewable integration and efficiency.
List of Leading Companies:
- Aggreko
- Caterpillar Inc.
- United Rentals, Inc.
- Hertz Equipment Rental Corporation
- Atlas Copco
- Siemens AG
- General Electric
- Mitsubishi Heavy Industries
- Kohler Co.
- Cummins Inc.
- Multiquip Inc.
- JCB
- Ingersoll Rand
- Honda Power Equipment
- Wartsila Corporation
Report Scope:
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Report Features |
Description |
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Market Size (2023) |
USD 3.3 billion |
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Forecasted Value (2030) |
USD 4.6 billion |
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CAGR (2024 – 2030) |
5.1% |
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Base Year for Estimation |
2023 |
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Historic Year |
2022 |
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Forecast Period |
2024 – 2030 |
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Report Coverage |
Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
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Segments Covered |
Gas Fueled Power Rental Market By Fuel Type (Natural Gas, LNG, Propane), By Power Capacity (Below 1 MW, 1-5 MW, 5-10 MW, Above 10 MW), By Application (Industrial, Commercial, Construction, Event & Entertainment, Oil & Gas, Utilities), By End-User Type (Rental Companies, Independent Power Producers, Utilities), By Power Generation Type (Base Load Power Generation, Peak Load Power Generation, Standby Power Generation) |
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Regional Analysis |
North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) |
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Major Companies |
Aggreko, Caterpillar Inc., United Rentals, Inc., Hertz Equipment Rental Corporation, Atlas Copco, Siemens AG, General Electric, Mitsubishi Heavy Industries, Kohler Co., Cummins Inc., Multiquip Inc., JCB, Ingersoll Rand, Honda Power Equipment, Wartsila Corporation |
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Customization Scope |
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
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1. Introduction |
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1.1. Market Definition |
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1.2. Scope of the Study |
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1.3. Research Assumptions |
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1.4. Study Limitations |
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2. Research Methodology |
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2.1. Research Approach |
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2.1.1. Top-Down Method |
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2.1.2. Bottom-Up Method |
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2.1.3. Factor Impact Analysis |
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2.2. Insights & Data Collection Process |
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2.2.1. Secondary Research |
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2.2.2. Primary Research |
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2.3. Data Mining Process |
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2.3.1. Data Analysis |
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2.3.2. Data Validation and Revalidation |
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2.3.3. Data Triangulation |
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3. Executive Summary |
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3.1. Major Markets & Segments |
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3.2. Highest Growing Regions and Respective Countries |
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3.3. Impact of Growth Drivers & Inhibitors |
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3.4. Regulatory Overview by Country |
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4. Gas Fueled Power Rental Market, by Fuel Type (Market Size & Forecast: USD Million, 2022 – 2030) |
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4.1. Natural Gas |
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4.2. LNG |
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4.3. Propane |
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4.4. Others |
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5. Gas Fueled Power Rental Market, by Power Capacity (Market Size & Forecast: USD Million, 2022 – 2030) |
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5.1. Below 1 MW |
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5.2. 1-5 MW |
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5.3. 5-10 MW |
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5.4. Above 10 MW |
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6. Gas Fueled Power Rental Market, by Application (Market Size & Forecast: USD Million, 2022 – 2030) |
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6.1. Industrial |
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6.2. Commercial |
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6.3. Construction |
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6.4. Event & Entertainment |
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6.5. Oil & Gas |
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6.6. Utilities |
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6.7. Others |
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7. Gas Fueled Power Rental Market, by End-User Type (Market Size & Forecast: USD Million, 2022 – 2030) |
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7.1. Rental Companies |
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7.2. Independent Power Producers |
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7.3. Utilities |
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8. Gas Fueled Power Rental Market, by Power Generation Type (Market Size & Forecast: USD Million, 2022 – 2030) |
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8.1. Base Load Power Generation |
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8.2. Peak Load Power Generation |
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8.3. Standby Power Generation |
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9. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030) |
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9.1. Regional Overview |
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9.2. North America |
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9.2.1. Regional Trends & Growth Drivers |
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9.2.2. Barriers & Challenges |
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9.2.3. Opportunities |
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9.2.4. Factor Impact Analysis |
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9.2.5. Technology Trends |
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9.2.6. North America Gas Fueled Power Rental Market, by Fuel Type |
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9.2.7. North America Gas Fueled Power Rental Market, by Power Capacity |
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9.2.8. North America Gas Fueled Power Rental Market, by Application |
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9.2.9. North America Gas Fueled Power Rental Market, by End-User Type |
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9.2.10. North America Gas Fueled Power Rental Market, by Power Generation Type |
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9.2.11. By Country |
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9.2.11.1. US |
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9.2.11.1.1. US Gas Fueled Power Rental Market, by Fuel Type |
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9.2.11.1.2. US Gas Fueled Power Rental Market, by Power Capacity |
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9.2.11.1.3. US Gas Fueled Power Rental Market, by Application |
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9.2.11.1.4. US Gas Fueled Power Rental Market, by End-User Type |
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9.2.11.1.5. US Gas Fueled Power Rental Market, by Power Generation Type |
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9.2.11.2. Canada |
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9.2.11.3. Mexico |
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*Similar segmentation will be provided for each region and country |
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9.3. Europe |
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9.4. Asia-Pacific |
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9.5. Latin America |
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9.6. Middle East & Africa |
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10. Competitive Landscape |
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10.1. Overview of the Key Players |
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10.2. Competitive Ecosystem |
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10.2.1. Level of Fragmentation |
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10.2.2. Market Consolidation |
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10.2.3. Product Innovation |
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10.3. Company Share Analysis |
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10.4. Company Benchmarking Matrix |
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10.4.1. Strategic Overview |
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10.4.2. Product Innovations |
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10.5. Start-up Ecosystem |
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10.6. Strategic Competitive Insights/ Customer Imperatives |
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10.7. ESG Matrix/ Sustainability Matrix |
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10.8. Manufacturing Network |
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10.8.1. Locations |
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10.8.2. Supply Chain and Logistics |
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10.8.3. Product Flexibility/Customization |
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10.8.4. Digital Transformation and Connectivity |
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10.8.5. Environmental and Regulatory Compliance |
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10.9. Technology Readiness Level Matrix |
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10.10. Technology Maturity Curve |
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10.11. Buying Criteria |
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11. Company Profiles |
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11.1. Aggreko |
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11.1.1. Company Overview |
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11.1.2. Company Financials |
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11.1.3. Product/Service Portfolio |
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11.1.4. Recent Developments |
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11.1.5. IMR Analysis |
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*Similar information will be provided for other companies |
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11.2. Caterpillar Inc. |
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11.3. United Rentals, Inc. |
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11.4. Hertz Equipment Rental Corporation |
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11.5. Atlas Copco |
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11.6. Siemens AG |
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11.7. General Electric |
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11.8. Mitsubishi Heavy Industries |
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11.9. Kohler Co. |
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11.10. Cummins Inc. |
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11.11. Multiquip Inc. |
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11.12. JCB |
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11.13. Ingersoll Rand |
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11.14. Honda Power Equipment |
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11.15. Wartsila Corporation |
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12. Appendix |
A comprehensive market research approach was employed to gather and analyze data on the Gas Fueled Power Rental Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Gas Fueled Power Rental Market. The research methodoloagy encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.
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Secondary Research
Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.
Primary Research
Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:
- Validating findings and assumptions derived from secondary research
- Gathering qualitative and quantitative data on market trends, drivers, and challenges
- Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
- Assessing the supply-side landscape, including technological advancements and recent developments
Market Size Assessment
A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Gas Fueled Power Rental Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:
- Identification of key industry players and relevant revenues through extensive secondary research
- Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
- Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources
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Data Triangulation
To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.
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