In a recent published report, Kenneth Research has updated the market report for Power Rental Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Power Rental Market products.
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A report on Power Rental Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Power Rental Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users.
According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth.
The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The Global Power Rental Market was valued at USD 12.62 billion in 2016 and is projected to reach USD 26.36 billion by 2025, growing at a CAGR of 8.53% from 2017 to 2025.
Power Rental is defined as power that is leased out for a specific amount of time and is governed by either a verbal or written agreement. Power rental is increasingly used in many industries, as it can supply immediate power such as for power outage in remote locations with no power networks. Benefits of power rental include – increased end-customer advantage, improved profitability, fuel management, fleet management, reliability, design integration and after sales support.
Sample Infographics:
Market Dynamics:
1. Market Drivers
1.1 Obsolete permanent power plants
1.2 Rising demand for power
1.3 Obsolete T&D infrastructure
1.4 Growing demand for customized compressed air rental solutions
1.5 Emergence of next-generation air compressors
2. Market Restraints
2.1 Growing focus on renewable energy
2.2 Stringent emission regulations
2.3 Changing raw material prices
2.4 Payment issues in underdeveloped and developing nations
Market Segmentation:
The Global Power Rental Market is segmented on the fuel type, application, power rating, end user, and region.
1. Fuel Type:
1.1 Gas Generators
1.2 Diesel Generators
1.3 Others
2. By Application:
2.1 Standby Power
2.2 Base Load/Continuous Power
2.3 Peak Shaving
3. By Power Rating:
3.1 Up to 50 kW
3.2 51 kW–500 kW
3.3 501 kW–2,500 kW
3.4 Above 2,500 kW
4. By End User:
4.1 Mining
4.2 Oil & Gas
4.3 Events
4.4 Manufacturing
4.5 Shipping
4.6 Utilities
4.7 Construction
4.8 Others
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Atlas Copco
2. United Rentals, Inc.
3. Wartsia Corporation
4. Caterpillar, Inc.
5. Aggreko, PLC
6. Kohler Co.
7. Hertz Equipment Rental Corporation
8. Soenergy International, Inc.
9. Generac Power Systems
10. Rental Solutions & Services, LLC
11. Power Electrics Bristol Limited
12. Bredenoord Exploitatiemij B.V.
13. Ashtead Group, PLC
14. Cummins, Inc.
15. APR Energy, PLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Power Rental Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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