Power Rental Market Size and Analysis of Key Growth Strategies | Industry New Tech Development, End Users and Regional Outlook To 2023

“Global Power Rental Market is predicted to grow at approximately 9.06% by 2023. :rn”
Power Rental Global Market by Fuel Type, by Application (Base Load, Stand by Power, and Peak Shaving), by End-User (Oil & Gas, Utilities, Shipping, Manufacturing, Mining, Construction and Others) and by Region – Forecast to 2023

Market  Overview

The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. The growing demand from the construction industries fueling the overall growth in the power rental market. However, stringent government regulations may hamper the growth of the market.

The report has analyzed the market based on the three segments: fuel type, application, and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of fuel type, global power rental market is segmented as diesel, gas and others. Diesel dominates the fuel type segment of the market. Diesel accounted for the largest market share of 72.10% in 2016, with a market value of USD 8,610.8 million. Diesel Generators are capable of handling any of additional power needs in a cost-effective manner and are ready to move on trucks on monthly/yearly rental basis. Gas was the second-largest market in 2016, valued at USD 2,639.4 million in 2016; it is projected to grow at a CAGR of 7.59%.

 

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Top Key Players:-

The key players of global power rental market are Aggreko Plc. (U.K.), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Herc Rentals Inc. (U.S.), Speedy Hire Plc. (U.K.), Ashtead Group Plc. (U.K.), United Rentals, Inc. (U.S.), APR Energy (U.S.), Bredenoord Exploitatiemij B.V. (The Netherlands), L.M. Generating Power Co. Ltd. Ltd (Canada) and others.

 

Scope of the Report:-

This study provides an overview of the global power rental market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Power rental market as fuel type, application and end-user.

By Fuel Type

  • Diesel
  • Gas
  • Others

By Application

  • Base Load
  • Stand by Power
  • Peak Shaving

By End-User

  • Oil & Gas
  • Utilities
  • Shipping
  • Manufacturing
  • Mining
  • Construction
  • Others

 

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Utilities dominate end-user segment of the global power rentals market:-

Based on end-user, the Power rental market has been segmented as oil & gas, utilities, shipping, manufacturing, mining, construction and others. Utilities dominate end-user segment of the global power rentals market. It accounted for the largest market share of 33.70% in 2016, with a market value of USD 4,024.7 million. Lack of electricity supply in the developing economies of Asia-Pacific & Africa and the aging power grid infrastructure in developed economies are some of the factors driving the demand of the power rental market in utility segment. Oil & & Gas was the second-largest market in 2016, valued at USD 2,699.1 million in 2016; it is projected to grow at a CAGR of 8.49%. Oil and gas drilling sites and oil rigs are located in remote areas where access to grid power is limited or non-existent. This is driving the need for rental power in the oil and gas industry.

 

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Regional Analysis of Global Power Rental Market:

North America region dominates the global power rental market. North America accounted for the largest market share of 31.60% in 2016, with a market value of USD 3,773.9 million. Aging grid infrastructure and natural calamities, which causes frequent power outages and increasing demand industrial sector fuelling the growth of the market in the region. Asia-Pacific was the second-largest market in 2016, valued at USD 2,663.2 million in 2016; it is projected to grow at a CAGR of 8.98% during the forecast period.

Major Points of TOC:-

1   Executive Summary

2   Introduction

 

3  Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation 3.5 Forecast Model

 

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4   Market Dynamics

4.1 Drivers

4.1.1 Growth In Construction Sector

4.1.2 Increase In Power Consumption

4.1.3 Shortage Of Power Supply

4.2 Restraints

4.2.1 Stringent Government Regulations

4.2.2 Emission Regulations For Diesel Engines

4.3 Opportunities

4.3.1 Scope In The Developing Nations

4.3.2 Strong Growth In Power Generation

 

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