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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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.
Global Power Rental Industry was valued at USD 13.30 Billion for the year 2017. Power Rental Industry is further expected to grow at a CAGR of 8.22% from 2018 to reach USD 25 Billion by the year 2025. North America region holds the highest Industry share in 2017. While European region is considered as the fastest growing Industry in the forecasted period. The U.S. is the major Industry in 2017 at country level and the UK is further anticipated to grow at a steady pace in the next 5 years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Major market players in Power Rental Industry are Atlas Copco, United Rentals Inc., Caterpillar Inc., Cummins Inc., Kohler Co., Aggreko PLC, Power Electrics Bristol Limited, APR Energy PLC, Rental Solutions & Services LLC, Smart Energy Solutions, Hertz Equipment Rental Corporation, Soenergy International Inc., and other 12 companies detailed information will be provided in the report. Better global reach, both at an operational level is the main reason for holding this Industry share. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.
SWOT Analysis of Power Rental Industry:
Strength:
Overconsumption of power from obsolete power plants
Weakness:
Strict emission rules for different regions
Opportunities:
Emerging smart cities and related projects in different countries
Threats:
Reducing the demand-supply gap
The segmentation done on the basis of fuel type include Gas Generators, Diesel Generators and others of which the Diesel Generator segment is expected to hold the highest Industry share during the forecast period.
Power Rental Industry Segmentation:
By Industry Sector
*Oil & Gas
*Construction
*Manufacturing
*Shipping
*Mining
By Application
*Base Load
*Stand-by Power
*Peak Shaving
By Fuel Type
*Diesel Generators
*Gas Generators
*Others
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
Africa
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