Press release
Global Power Rental Market is anticipated to expand at around USD 23 billion and a CAGR of around 9.09% during 2018-2027 :Top keyplayers are H&E Equipment Services
Renting the power on temporary basis is called power rental. Process of producing electricity with the help of turbine which generates the steam by burning of fossil fuels such as coal, oil & gas produces the electric current which is provided to the various industries for running their operations.
Power renting provides flexibility, reliability, speed and cost effectiveness. It also offers complete power package for operating and delivering scalable components with huge power generator plants installation to different applications of industry.
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Mostly the power required in industries like oil/gas, power infra and the construction companies for lifting heavy machines the diesel generators are used for processing their operations.
Power rental can be used for supplying high amount of power or energy in critical operations to perform heavy operations like construction of dams and highways. Power renting can be used as a stand by for providing power as a safety to avoid the interruption in the operation.
Market Size and Forecast
The global power rental market is anticipated to expand at around USD 23 billion and a CAGR of around 9.09% during 2018-2027. The power renting enables industries to perform various operations and also enables safe and smooth calculation of units consumed and the amount to be paid. Such factors are anticipated to boost the global power rental market over the forecast period.Increase in the sector of shale energy for extraction of shale the need of power for processing complete operation requirement of power is expected to increase in North America which anticipates the growth of power rental market in the expected forecast period.
The global power rental market is segmented on the basis of region into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia- Pacific is anticipated to be the fastest developing region for the global power rental market on the account of rapid expansion of the infrastructures, oil/gas sector and factories in India and China. The growing demand for energy in oil and gas industry for drilling and exploratory operations that requires more power for their process is also anticipated to drive the market growth of the Asia Pacific region during the forecast period.
Europe is anticipated to showcase robust growth during the forecast period. The increasing number of the key players operating in the power rental market coupled with favorable government regulations to use power rent system is anticipated to fuel up the demand for the automotive relay during the forecast period.
Market Segmentation
Our in-depth analysis segmented the global power rental market in the following segments:
By Fuel:
Diesel
Gas
Liquefied Natural Gas
Pipelined Natural Gas
Dual Fuel
By Power Rating:
11-50 kW
51-200 kW
201-500 kW
501-1,000 kW
1,501-2,000 kW
Above 2,000 kW
By End User:
Utilities
Oil & Gas
Events
Construction
Mining
Shipping
By Application
Peak Shaving
Standby Power
By Region
On the basis of regional analysis, global power rental system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
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North America is expected to showcase the modest and steady growth in market, owing to increase demand for power across the region. Additionally, North America is followed by Asia Pacific and Europe region in terms of power rental assisted by increase demand for power in various industries.
Global power rental market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
Europe (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
Middle East and Africa (GCC, Israel, North Africa, South Africa, Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis.
power rental market Graph
Growth Drivers and Challenges
According to the Indian Ministry of Statistics and Programme Implementation the utilization of different sources of energy in India is 1,001,132 MW in total renewable power generation, 21,134 MW in Hydro power potential, 649,342 MW in Solar Power Potential and 302,251 MW in wind power potential. The high utilization is expected to result in an increasing demand for power generation. Such factors account to an increasing requirement for power rental services.
Increasing Demand
There is a high requirement for continues supply of electricity in urban and rural areas to carry out various critical operations within industries such as oil & gas, construction and infrastructure development which are often not met by the regular supply. Also, increasing mining activities are also resulting in an increased demand for power rental services. Therefore, there is an increasing demand for power in rent from power rental companies.
Air compressed generators
Innovations in air compressed generators that restrict the emission of harmful gases released from oil generators is also a factor driving the growth of market. Additionally, air compressed generators are able to operate at high pressure and temperature.
Challenges
Government regulation
However, unfavorable government regulations that restrict the usage of conventional energy resources due to factors such as carbon dioxide emission, loss of eddy currents and hysteresis loss, are resulting for decline in the demand for power renting.
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Key Players
Ahern Rentals, Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional
H&E Equipment Services
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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