Power Rental Market is Anticipated to Reach at USD 21,765.1 Million by 2023

Power Rental Market

Market Research Future has a Cooked Research Report on Power Rental Market that contains the information from 2017 to 2023. 

The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. They are used in various industrial and commercial applications.  In developing nations, the strong growth in economy and the population expansion have led to the increase in the consumption of power. Due to the development of the countries and the improvement in the standard of living, there is a higher demand for the energy consumptions. Hence, this will lead to growth in power rental 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%.

We recognize the key players in the global power rental market as 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.

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Utilities dominate end-user segment of the Global Power Rental 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

This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global Power rental market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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