They acts as an alternate power providing device during low power supply phase. Additionally, they provide peak shaving which allows industries to assign their electrical load equally during non-peak and peak hours. Furthermore, during times of unplanned power loss they act as standby power supply. Increasing awareness to limit power consumption during non-peak and peak hours is expected to favor the market demand over the forecast period. Increasing events, festivals, and fairs require temporary power source which is expected to boost the power rental systems market growth over the forecast period.
Stringent regulations set by authorities such as EC, NRDC and EPA is expected to provide positive avenues to the market growth over the next five years. Adoption of emission control policies by countries such as U.S., Germany and India is expected to fuel the demand of power rental systems. Limited product differentiation and increasing environmental concerns is likely to pose a challenge to the market participants.
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Applications include continuous power, standby power systems, and peak shaving. Peak shaving is used to decrease power bills by restraining the power consumption during peak hours. The system helps to cut short the demand for power during seasonal peak hours. They are increasingly finding applications in oil and gas, construction sector, and mining as they require continuous power supply. Renewable power plants, government offices, hospitals and telecommunication service sectors require continuous power supply thereby boosting the power rental systems market growth. Increasing data centre coupled with increasing usage of consumer electronics which run on standby mode are expected to provide positive avenues to the market growth over the forecast period.
Industries such as oil and gas, construction sector, mining, events and others are expected to remain key end-use segment for the market. Government projects and offices are expected to boost the power rental systems market over the forecast period. Developing oil and gas industry in Asia Pacific and Middle East is expected to boost the power rental units market over the next five years.
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Urbanization has fuelled the construction industry with opportunities in infrastructural development which in turn likely to boost the demand for power rental systems in residential segment. Industrial segment is expected to grow considerably over the next five years, growing at a CAGR of 15%.
North America and Europe is expected to grow at a significant rate owing to increase in usage of power rental units by end-use segment. Asia-Pacific is expected to grow considerably over the forecasted period. Increasing awareness of power consumption and growth in industrial sector is expected to drive the power rental systems market in India over the forecast period.
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The power rental systems market in Middle East are expected to grow significantly owing to growth in oil and gas, industrialization and construction industries in the region. Insufficient power infrastructure in Vietnam, Philippines and Indonesia is expected to boost the market demand significantly over the next five years.
The key players in the power rental systems market include APR Energy, Aggreko PLC, Caterpillar Inc., Hertz Corporation, United Rentals, Atlas Copco AB, Cummins Inc, Bredenoord Exploitatiemij B.V., Power Electricals Limited, and Kohler Co. among others.
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