Press release
Power Rental Market In-depth Research Report, Industry Segmented by Fuel Type, Application, End-User, Region – Global Forecast to 2023
Power Rental Market
Observing the market structure, this report evaluates the future growth potential of the market. It inspects the strategies of the key players in the market and reflects the competitive developments like joint ventures, mergers & acquisitions, new product developments, research and developments (R&D) in the market. This report also encompasses insights on the major countries/regions in which this industry is flourishing. It features the list and description of untapped regions which could be the potential markets in the future.
The most important factor for the global power rental market growth is increasing the use of rented generators in various industrial and commercial applications. Other factors that favor market growth include a shortage of power supply and an increase in the use of power rental equipment.
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Segmental Analysis
The global power rental market has been segmented on the basis of application, end-user, and fuel type, lastly, regions.
The application-based segmentation segments this market into the base load, peak shaving, and stand by power.
Based on end-user, the market has been segmented into construction, manufacturing, mining, oil & gas, shipping, utilities, and others.
By fuel type, the market has been segmented into diesel, gas, and others.
Regional Outlook
The regional segmentation of the global power rental market segments the market into the regional markets namely Asia Pacific, Europe, North America, and rest of the world (RoW).
North America holds the greatest market share in the global market. The key factor leading to market growth in this region include frequent power outages caused by aging grid infrastructure and natural calamities.
During the forecast period, the Asia Pacific market is expected to grow at 8.98% CAGR. In this region, factors helping the market include the continued growth of constructional and developmental activities.
Europe another important regional market. Here the market is growing due to established infrastructure, good amount of power supply, the presence of major key market players in this region, technological advancement, majority areas having the urban infrastructure, and high level of industrialization.
The RoW segment covers South America and the Middle East & Africa (MEA). In the MEA region, the market is limited due to poor countries, lack of awareness, lack of infrastructure, lack of advanced facilities, lack of modern equipment required for power generation, lack of skilled people to assemble generators, and lack of education.
Key Players
The key players in the global power rental market include Aggreko PLC (UK), APR Energy (USA), Ashtead Group PLC (UK), Bredenoord Exploitatiemij B.V. (The Netherlands), Caterpillar Inc. (USA), Cummins, Inc. (USA), Herc Rentals Inc. (USA), L.M. Generating Power Co. Ltd. Ltd (Canada), Speedy Hire Plc. (UK), and United Rentals Inc. (USA).
Latest Industry News
• Altaaqa Global Caterpillar Rental Power, temporary power services specialist, will now, be known as Altaaqa Global Energy Services. They are set to venture into various activities beyond the power rental business. 3 FEB 2019
• Leading Australian equipment hire leader Kennards Hire has acquired the specialist temporary power rental company Power Distribution Rentals (PDR). 25 OCT 2018
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