Global Power Rental Market Scenario
Market Research Future (MRFR) has published a
research report about the global power rental market that estimates climb for
this market at 9.06% CAGR (Compound Annual Growth Rate) during the forecast
period between 2017 and 2023. By value, the market has been figured to be worth
the US $ 21,765.1 Mn by the end of the forecast period.
The most significant factor
for the global power rental market growth is the rising usage of rented
generators in various commercial and industrial applications. Other crucial factors
that favor market growth include a lack of power supply and the rise in the usage
of power rental equipment. furthermore, many countries are focusing on
expanding their infrastructure; heavy investments have been made to boost
infrastructural activities globally. This is also expected to have a positive
impact on the growth of the market in the near future. However, emission
regulations for diesel engines are the influential factor that may hamper the
growth of the market.
Segmental Overview
The global power rental market has been segmented on
the basis of application, end-user, and fuel type, lastly, regions.
The application-based segmentation segments this
market into the base load, peak shaving, and stand by power.
Based on end-user, the market has been segmented
into construction, manufacturing, mining, oil & gas, shipping, utilities,
and others.
By fuel type, the market has been segmented into
diesel, gas, and others.
Leading Players
The key players in the global power rental market
include Aggreko PLC (UK), APR Energy (USA), Ashtead Group PLC (UK), Bredenoord
Exploitatiemij B.V. (The Netherlands), Caterpillar Inc. (USA), Cummins, Inc.
(USA), Herc Rentals Inc. (USA), L.M. Generating Power Co. Ltd. Ltd (Canada),
Speedy Hire Plc. (UK), and United Rentals Inc. (USA).
Browse Full Report at: https://www.marketresearchfuture.com/reports/power-rental-market-1226
Regional Analysis
On the basis of region, the global power rental
market has been segmented into Asia Pacific, Europe, North America, and the
rest of the world (RoW).
North America accounts for the dominant market share
in the global market. The essential factors leading to market growth in this
region include recurrent power outages caused by aging grid infrastructure and
frequent natural calamities. Other significant factors leading to the market
growth are growing demand for rented generators by the industrial sector and
the presence of numerous major market players in this region. the major
countries in the region are US and Canada.
During the assessment period, the Asia Pacific
market is likely to grow at 8.98% CAGR. In this region, factors supporting the
market comprise of the continual growth of developmental and constructional
activities. Another factor favourable for market growth is the rapid rise in
the demand-supply gap of electric power in developing economies like China and
India. Japan is also considered one of the major countries in its region.
Europe, a significant regional market for the global
power rental market. In this region, the market is growing owing to the
established infrastructure, a relatively better amount of power supply, the
presence of major market players, majority areas having the urban
infrastructure, technological advancement, and high level of industrialization
in pivotal countries such as Germany, France, and the UK.
The RoW segment consists of South America and the
Middle East & Africa (MEA). In the MEA region, the market growth is
hindered due to the presence of poor countries, lack of awareness, lack of
advanced facilities, lack of infrastructure, lack of skilled people to assemble
generators, lack of modern equipment required for power generation, and lack of
education. South America is a relatively smaller market because the
availability of advanced technology is less in this region. Argentina and
Brazil are comparatively strong economies that have the potential to grow as
profitable markets in the future. During the review period, the RoW segment has
been projected to grow at 10.98% CAGR.
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