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Power Rental Market : Find Out Top Impacting Factor Of Market Growth By Opportunity And Industry Players

02-22-2021 02:44 PM CET | Energy & Environment

Press release from: Coherent Market Insights (CMI)

Power Rental Market

Power Rental Market

Major drivers propelling the growth of power rental market globally include rapidly developing construction industry. According to CMI, the global construction industry is projected to expand at a CAGR of 5.8% from 2017 to 2025.

Power rental plants are required for temporary supply of power for industries due to the supply-demand gap in electricity. To avoid financial losses, industries requires a constant power supply. Therefore, industries use additional power by introducing short-term initiatives, such as leasing or renting addition power by using diesel generators to fulfill their need for power.

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On the basis of end users, construction and oil & gas industries held the largest position in 2016, owing to high adoption rate of power rental technologies by industries. According to American Chemistry Council (ACC), 294 new chemical projects started in the U.S. in 2017, due to availability of cheap and abundant ethane and shale gas. The ever increasing demand for oil and gas all over the world is the major factor driving the growth of global power rental market.

Detailed Segmentation:

Global Power Rental Market, By Fuel:
Diesel
Gas
Others

Global Power Rental Market, By Application:
Peak Shaving
Base Load/ Continuous
Stand by

Global Power Rental Market, By End User:
Utilities
Oil & Gas
Events
Construction
Mining
Manufacturing
Shipping

ase load/continuous was the largest segment in 2016 and is expected to maintain its position during the forecast period. Base load segment was valued at US$ 5.55 billion in 2016 and is expected to grow at a CAGR of 7.3% during 2017 - 2025.

Major Players in the Global Power Rental Market:

Some of the major players in the power rental market include Aggreko PLC, United Rentals, Inc., APR Energy, PLC, Caterpillar, Inc., Cummins, Inc., Hertz Equipment Rental Corporation, Generac Power Systems, and Rental Solutions & Services, LLC.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
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Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com
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