Press release
Power Rental Market Size, Share, Analysis of Growth Strategies Adopted by Major Players, Study with focus on Company Profile | Industry Development Analysis, End Users and Regional Outlook 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. The growing demand from the construction industries fueling the overall growth in the power rental market. However, stringent government regulations may hamper the growth of the market.
Global power rental market is projected to reach USD 21,765.1 million by 2023, at a CAGR of 9.06% from 2017 to 2023.
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Industry News:-
On December 8 2017, United Rentals, Inc. completed the acquisition of NES Rentals Holdings II, Inc. for a total purchase price of approximately USD 965 million. This helps the company to strengthen relationships in East Coast, Gulf States and Midwest region.
In March 2017, Cterpiller Inc. announced that Cat Connect technology will be available on mobile diesel rental generator sets. Cat Connect combines equipment, technology and services to improve productivity, control costs and reduce risk, as well as positively impacting safety and sustainability.
In Janury 2017, APR Energy announced that they have renewed their strategic alliance with GE to provide mobile turbine technology into the fast-track power rental market.
Dominant Players:
• United Rentals, Inc.
• APR Energy
• Aggreko Plc.
• Caterpillar Inc.
• Cummins, Inc.
• Herc Rentals Inc.
• Speedy Hire Plc.
• Ashtead Group Plc.
Scope of the Report:-
This study provides an overview of the global power rental market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Power rental market as fuel type, application and end-user.
Power Rental Market By Fuel Type
• Diesel
• Gas
• Others
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Power Rental Market By Application
• Base Load
• Stand by Power
• Peak Shaving
Power Rental Market By End-User
• Oil & Gas
• Utilities
• Shipping
• Manufacturing
• Mining
• Construction
• Others
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Regional Analysis of Global Power Rental Market:
North America region dominates the global power rental market. North America accounted for the largest market share of 31.60% in 2016, with a market value of USD 3,773.9 million. Aging grid infrastructure and natural calamities, which causes frequent power outages and increasing demand industrial sector fuelling the growth of the market in the region. Asia-Pacific was the second-largest market in 2016, valued at USD 2,663.2 million in 2016; it is projected to grow at a CAGR of 8.98% during the forecast period.
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