Press release
Power Rental Market Size (volume & value), Explosive Growth, Business Development, Updated Trends by 2023
Market Highlights
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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Market Research Analysis
On the basis of regions, the global power rental market is segmented as North America, Europe, Asia-Pacific and RoW. 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. The growth of the power rental market in the Asia-Pacific region is majorly driven by factors such as continued growth of constructional and developmental activities and the rapid increase in the demand-supply gap of electric power in emerging economies of the region. However, RoW is projected to grow at the highest CAGR of 10.98%.
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.
By Fuel Type
Diesel
Gas
Others
By Application
Base Load
Stand by Power
Peak Shaving
By End-User
Oil & Gas
Utilities
Shipping
Manufacturing
Mining
Construction
Others
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Key Players
The key players of global power rental market are Aggreko Plc. (U.K.), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Herc Rentals Inc. (U.S.), Speedy Hire Plc. (U.K.), Ashtead Group Plc. (U.K.), United Rentals, Inc. (U.S.), APR Energy (U.S.), Bredenoord Exploitatiemij B.V. (The Netherlands), L.M. Generating Power Co. Ltd. Ltd (Canada) and others.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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