Global power rental market can be segmented into by Fuel into Diesel, Gas, Dual Fuel, by Power Rating into 11-50 kW, 51-200 kW, 201-500 kW, 501-1,000 kW, 1,501-2,000 kW, and above 2,000 kW, by End Users into Utilities, Oil & Gas Events, Construction, Mining and Shipping, By Application into Peak Shaving and Standby Power and by regions. Providing the generators, power station and power in a lease or rent is called power rental.
The global power rental market is anticipated to expand at around USD 23 billion and a CAGR of around 9.09% during 2018-2027
Due to the irregular supply of electricity in the rural areas and some parts of urban areas there is a significant demand for power renting from industries such as oil & gas, infra power and constructions. All operations of these industries are performed by converting the mechanical energies into the electrical energy by the forces of turbine actions of the generators which provide the steam for the generation of electricity.
Power rental plants provide flexibility, speed, reliability and cost effectiveness to the users. It can be supplied with the various powers as per the requirements of the industry.
The increase in global population and rising migration from rural to urban areas are resulting in an increased demand for energy resources to meet the rising needs. Due to such factors industries such as construction & development, oil & gas etc. are expected to face an increase in the demand for power renting.
Increasing mining activities are also a factor positively impacting the power rental market over the forecast years.
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Expansion of Power Rental Market
Factors such as increase in the infrastructure development and construction activities, mining activities, oil & gas to fulfill the demand of growing population for their needs power rental market industry is expanding with the rapid growth.
The ease of measuring the electricity consumed and cost effectiveness of power renting especially for providing energy source to power large scale projects like exploring and drilling processes that have a high energy consumption is expected to expand the market over forecasted period.
The limited availability of power rental system and the lack of awareness in regarding their benefits are the some of the factors which are retraining the expansion of power rental market system in the expected forecast period.
The report titled “Global Power Rental market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the power rental market in terms of market by Fuel, by Power Rating, by End Users, by application and the region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the gl0bal self-priming pump market which includes company profiling of Ahern rentals, Aggreko, APR energy, caterpillar inc, Cummins inc, Ashtead group plc., Atlas Copco CB, hertz corporation, H&E Equipment services and Soenergy International Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of global power rental market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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