Market Forecast By Types (Diesel Genset Rental, Gas Genset Rental), By KVA Rating (Diesel Genset (Below 100 KVA, 100.1-350 KVA, 350.1-750 KVA, 750.1-1000 KVA, Above 1000 KVA), Gas Genset (Below 100 KVA, 100.1-375 KVA, 375.1-1000 KVA, Above 1000 KVA)), By Applications (Standby Genset Rental, Prime/ Continuous Genset Rental), By Prime Applications (Peak Load, Base Load), By Verticals (Utilities, Oil & Gas, Construction, Manufacturing, Quarrying & Mining, Commercial, Others (Agriculture, Municipal Work, And Events)) And Competitive Landscape
Product Code: ETC160013 | Publication Date: Jan 2025 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Myanmar Genset Rental Market |
CAGR | 8.5% |
Growing Sector | Construction |
Forecast Period | 2025-2031 |
The Myanmar Genset Rental Market report thoroughly covers the market by Type, by KVA rating, by application, by verticals and by prime application. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Myanmar genset rental market is experiencing significant growth due to the increasing demand for reliable and temporary power solutions across various sectors. With frequent power outages and an underdeveloped electricity infrastructure, businesses and industries are increasingly reliant on rental generators to ensure uninterrupted operations. Key drivers for the market include the expansion of construction and infrastructure projects, as well as growth in the mining, oil and gas, and manufacturing sectors. Additionally, the increasing number of events and festivals in urban areas has further stimulated demand for temporary power sources.
According to 6Wresearch, Myanmar Genset Rental Market size is projected to witness a CAGR of 8.5% during the forecast period of 2025-2031. the rapidly growing demand for reliable and continuous power supply across various sectors, including construction, mining, and industrial operations, boosts the need for rental generators. This demand is further fueled by frequent power outages and an underdeveloped electrical grid, which create a reliance on gensets to maintain productivity. Additionally, the surge in infrastructure projects and urban development initiatives calls for temporary and mobile power solutions, making genset rentals a favorable alternative to purchasing.
High import costs and heavy reliance on foreign suppliers can lead to increased rental prices, potentially deterring some segments of the market. Moreover, the lack of skilled manpower for maintenance and operation of gensets poses operational challenges for rental companies. Furthermore, regulatory hurdles and the need for compliance with environmental standards can complicate market operations. Addressing these issues is critical for sustainable growth and competitive market positioning.
The Myanmar genset rental market is characterized by several leading players who have established a significant presence. These companies offer a wide range of power solutions to meet the growing demand across various industries such as construction, mining, and telecommunications. Prominent players include Aggreko Plc, known for its extensive portfolio and reliable service, providing power solutions tailored to customer needs. Similarly, Caterpillar Inc. offers robust rental power options, leveraging its global reputation for durability and efficiency. Other notable companies in the sector include Cummins Inc. and Kohler Co., both of which are acclaimed for their innovative technologies and commitment to sustainability. These industry leaders are crucial in supporting Myanmar's infrastructure development and meeting the increasing power requirements of the nation.
The Myanmar genset rental market has been significantly influenced by various government initiatives aimed at addressing the country's energy needs. As part of its efforts to modernize infrastructure and enhance electricity access, the Myanmar government has prioritized the expansion of reliable power supply networks across urban and rural areas. This has led to an increased demand for generators as temporary power solutions during infrastructure development and in regions still lacking stable electricity. Furthermore, the government has been facilitating partnerships with both local and international companies, fostering a competitive environment that encourages technological advancements and efficiency in genset solutions.
The future of the Myanmar genset rental market is poised for significant growth, driven by increasing industrialization and infrastructure development in the region. As the demand for reliable power supply in remote and urban areas continues to rise, the genset rental market is expected to expand considerably. Technological advancements in genset efficiency and emissions reduction are also likely to play a crucial role, potentially lowering operational costs and aligning with global sustainability goals. Moreover, the market may see heightened competition and innovation as both local and international players seek to capture the growing demand in Myanmar.
According to Ravi Bhandari, Research Head, 6Wresearch, the diesel genset rental market in Myanmar is experiencing significant growth due to the country's increasing need for reliable power solutions. With frequent power outages and the rising demand for electricity in both urban and rural areas, businesses and industries are turning to rental solutions for their energy requirements. Diesel gensets are a popular choice because of their efficiency, durability, and capability to provide continuous power during grid failures. Rental services offer the flexibility of short-term and long-term contracts, making them an attractive option for construction sites, events, and businesses needing temporary yet dependable power sources.
The demand for diesel gensets with capacities above 1000 KVA is notably rising within the Myanmar genset rental market, driven by large-scale industries and infrastructure projects that require substantial and steadfast power solutions. These high-capacity gensets serve critical sectors such as mining, telecommunication, and large-scale manufacturing operations where continuous power supply is pivotal to maintaining productivity and operational efficiency. The ability of these powerful gensets to deliver significant power output makes them indispensable in scenarios where power requirements exceed standard capacities.
Prime and continuous genset rentals are essential components of the Myanmar genset rental market, catering to diverse power needs with precision and reliability. Prime gensets are designed for continuous operation and can provide electricity for an unlimited number of hours per year at variable load, making them ideal for industries that require ongoing power without interruption. On the other hand, continuous gensets deliver a constant power supply at a steady output, ensuring optimal performance for applications such as remote mining operations, telecommunications, and emergency power for large-scale facilities. Rental providers in Myanmar are increasingly offering these specialized gensets, reflecting the country’s growing demand for robust and dependable energy solutions.
Base load gensets play a fundamental role in the Myanmar genset rental market by ensuring a stable and consistent power supply for critical applications. Unlike other types of gensets, base load gensets are specifically engineered to deliver a constant level of electricity over an extended period, which is crucial for sectors where power stability is essential. These gensets are predominantly used in industries such as manufacturing facilities, data centers, and large-scale agricultural operations, where their reliability and efficiency minimize downtime and maintain productivity. As Myanmar continues to industrialize and expand its infrastructure, the demand for base load gensets in the rental market is expected to grow.
The quarrying and mining sectors in Myanmar are integral to the country’s economic landscape, necessitating reliable and efficient power solutions to sustain their operations. As these industries often operate in remote and challenging environments, genset rentals have become a crucial component in ensuring continuous and stable energy supply. Gensets provide the necessary power for equipment, lighting, and safety systems, thus enabling uninterrupted mining and quarrying activities. The harsh conditions and power demands in these sectors have led to the increased adoption of heavy-duty gensets that can endure rigorous operating environments. Moreover, rental companies in Myanmar are expanding their offerings to include customized genset packages designed to meet the specific power requirements of quarrying and mining operations.
The report offers a comprehensive study of the subsequent market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of the Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Myanmar Genset Rental Market Overview |
3.1 Myanmar Genset Rental Market Revenues, 2021-2031F |
3.2 Myanmar Genset Rental Market Industry Life Cycle |
3.3 Myanmar Genset Rental Market Porter’s Five Forces Model |
3.4 Myanmar Genset Rental Market Ecosystem |
3.5 Myanmar Genset Rental Market Revenue Share, By Types, 2021 & 2031F |
3.6 Myanmar Genset Rental Market Revenue Share, By Applications, 2021 & 2031F |
4. Myanmar Genset Rental Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Myanmar Genset Rental Market Trends |
6. Myanmar Genset Rental Market Overview |
6.1 Myanmar Genset Rental Market Revenues |
6.2 Myanmar Genset Rental Market Revenue Share and Revenues, By Types |
6.3 Myanmar Genset Rental Market Revenue Share and Revenues, By Applications |
7. Myanmar Genset Rental Market Opportunity Assessment |
7.1 Myanmar Genset Rental Market Opportunity Assessment, 2031F |
8. Myanmar Genset Rental Market Competitive Landscape |
8.1 Myanmar Genset Rental Market Revenue Share, By Company, 2021 |
8.2 Myanmar Genset Rental Market Competitive Benchmarking, 2021 |
8.3 Myanmar Genset Rental Market Competitive Benchmarking, on Technical Parameters, 2021 |
9. Company Profiles |
9.1 Aggreko PLC |
9.2 Atlas Copco |
9.3 Caterpillar Inc. |
9.4 Cummins Inc. |
9.5 Aksa Power Generation |
9.6 Teksan |
9.7 APR Energy |
9.8 Himoinsa S.L. |
9.9 United Rentals Inc. |
9.10 AGCO Corporation |
10. Key Strategic Recommendations |
11. Disclaimer |
Market Forecast By Types (Diesel Genset Rental, Gas Genset Rental), By KVA Rating (Diesel Genset (Below 100 KVA, 100.1-350 KVA, 350.1-750 KVA, 750.1-1000 KVA, Above 1000 KVA), Gas Genset (Below 100 KVA, 100.1-375 KVA, 375.1-1000 KVA, Above 1000 KVA)), By Applications (Standby Genset Rental, Prime/ Continuous Genset Rental), By Prime Applications (Peak Load, Base Load), By Verticals (Utilities, Oil & Gas, Construction, Manufacturing, Quarrying & Mining, Commercial, Others (Agriculture, Municipal Work, And Events)) And Competitive Landscape
Product Code: ETC160013 | Publication Date: Feb 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 80 | No. of Figures: 12 | No. of Tables: 4 |
Myanmar Genset Rental Market report comprehensively covers the market by Types, KVA ratings, Applications, Prime Applications, and Verticals. The Myanmar Genset Rental market outlook report provides an unbiased and detailed analysis of the Myanmar Genset Rental market trends, opportunities, high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
A low grid power supply rate of the country has increased consumer dependency on rental gensets for power support in commercial and industrial sectors. On account of developments in the aforementioned sectors, the Genset rental market revenues witnessed a stable growth during 2016-19. However, the Covid-19 pandemic had slowed down the market in terms of the supply of the product during 2020. While on the other hand, the demand side also fell victim to the slowdown due to the market being closed during the lockdown period. Currently, the market has recovered gradually and is likely to witness growth over the coming years.
According to 6Wresearch, Myanmar Genset Rental Market size is expected to grow at a CAGR of 10.1% during 2020-2026. The pandemic covid-19 would lead to a decline in market revenues in 2020, however, with the gradual opening up of the economy and revival in consumer demand, the market revenues would start to recover in 2021. Additionally, expected growth in small level businesses and small manufacturing units in the country would also spur the demand for small and medium power rated rental gensets in the coming years.
The low price of diesel as compared to natural gas is one of the primary reason for higher preference towards diesel gensets in the country, on account of which diesel gensets accounted for a major share in the Genset rental market in 2019 and would continue to remain the major shareholder over the coming years as well.
The report provides a detailed analysis of the following market segments: