According to BlueWeave Consulting, the Global Power Rental market is expected to grow with a significant rate during the forecast period 2018-2025 owing to the increasing demand of uninterrupted power supply in the commercial & construction industry and residential & shops.
Demand from power plants and Utility companies in order to ensure continued power supply to use rental generators mainly during peak hours to fulfill the demand of supply chain will boost Power Rental market in the upcoming year. Moreover, the major factor driving the market growth is the upsurge in power consumption, improvement in power infrastructure, an increase in demand for uninterrupted power supply in the construction industry. Furthermore, huge demand for power rental has also been observed in major sectors such as healthcare and telecommunication, which require emergency power back-up is accelerating the growth of Power Rental market. Additionally, application of Power Rental in the production of crude oil for deep refinery and ultra-deep in oil and mining industry will contribute to Power Rental market growth during the forecast period and limited accessibility of power in rural areas & power loss due to regular basis grid failure will aiding to the growth of Power Rental market.
Diesel Generators-type of Power Rental market is projected to be the leading segment of the overall market during the forecast period.
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On the basis of Fuel type, the Power Rental market has been segmented into Diesel Generators, and Gas Generators. Diesel Generators dominates the global Power Rental owing to the easy availability of fuel, long-running life and cost-effective. Gas Generators will be the fastest growing segment due to its properties which offer seamless, noise-free, and clean power energy.
Above 1000 kW type is dominating Power Rating segment of the overall Power Rental market during the forecast period
On the basis of Power rating type, the Power Rental market has been segmented into less than 50 kW, 50 kW–500 kW, 501 kW-1000 kW, and above 1000 kW. Above 1000 kW segment will dominate the global Power Rental due to its growing demand in large power plants like oil & refinery industry, construction industry, and mining industry. Less than 50 kW segment market will grow by its demand in household, shops and smaller industries.
Utilities are projected to lead industry for utilizing the applications of the Power Rental during the forecast period
On the basis of End-user type, the Power Rental market has been segmented into Commercial, Manufacturing, Events, Construction, Utilities, Mining, Oil & Gas and Others. Utility segment will lead the market owing to the growing demand for continuous power supply during peak hours for running regularly basis. The commercial sector will influence its need for uninterrupted power supply without fluctuations. The construction sector market will drive by the growth of infrastructural development.
Standby Power is projected to the lead purpose for which industries utilizing applications of the Power Rental during the forecast period
On the basis of application, the Global Power Rental market has been segmented into Prime Power, Standby Power, and Continuous Power. By application type, Standby Power will lead the market due to due to its properties to saving energy by electronic and electrical appliances while they are switched off or in standby mode. Prime Power will drive by its properties to provide emergency power needs up to 2000 kW.
The Asia Pacific accounts for lion’s share of the Global Power Rental market during the anticipated period.
On the basis of region, the Power Rental market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific dominates the world Power Rental market over the forecast period owing to the increasing number of construction projects, growing utility sector, extreme weather conditions, post-disaster emergencies and unavailability of the power grid in remote locations. North America region market will drive by the need for emergency power utilities during the natural calamities affecting the power generation and T&D activities in the country.
Global Power Rental Market Competitive Landscape
Companies such as, Caterpillar Inc., Aggreko PLC, Cummins Inc., United Rentals Inc., APR Energy, Atlas Copco AB, Ashtead Group PLC, Speedy Hire PLC, Kohler Co., Hertz Corporation, Soenergy International Inc., Generac Power Systems, Herc Holdings Inc., Al Faris Group, and Quippo Infrastructure Equipment Limited are the key players in manufacturing of power rental.
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