Power Rental Market for applications (Peak Shaving, Continuous Power and Standby) in end use (Government and Utilities, Oil, Gas and Mining, Construction, Industrial, Events) - Global Industry Analysis Forecast - 2019

Power rental systems provide instantaneous power supply to several industries during power outages. They provide backup to power grids which thereby acts as a supplementary source. Growing global energy demand, increased grid instability and rising awareness to curtail energy demand during peak hours is expected to drive the market growth over the coming years. Rising stringent environmental regulations owing to harmful emission and limited product differentiation are some of the key challenges confining the market growth. However, development of evolutionary power rental systems is expected to overcome the challenge. Emergent markets including the Middle East and Africa (MEA) and Asia Pacific are some of the key regions that are paving the way for market growth. Increasing electricity consumption in off grid areas is likely to create new opportunities for the market.

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Peak shaving, continuous power and standby are key applications that attribute to the market growth. Continuous power dominated the market and is expected to continue its dominance over the coming years. The growing awareness amongst energy intensive industries to curb the penalty charged over high energy demand during peak hours is likely to boost the peak shaving application market over the forecast period. Significant shortage of power supply in developing regions and lack of infrastructure are encouraging companies to choose power rental based solutions. Several companies have old distribution grids which require renovation and are expected to provide new opportunities for power rental manufacturers.

Chinese power rental market is expected to grow due to rising thermal power generation that is likely to fuel the power rental systems demand in Asia Pacific region. The market comprises of key end user segments including government and utilities, oil, gas and mining, construction, industrial, events market. The market for power rental systems has increased significantly over the past years, replacing old conventional grids which were insufficient in supplying adequate energy. Power rental market is likely to grow rapidly in the Middle East and African countries owing to rising energy demand and growing tourism. Recently, establishment of Altaaqa Global provides temporary power solutions to Dubai and nearby regions has bolstered power rental market in MEA.

MEA dominated the market in 2012 and accounted for over 31% of the global annual revenue. It was followed by Asia Pacific which faces huge energy deficit due to unstable conventional power grid. As a result, increasing energy demand in Asia Pacific is expected to drive the power rental market in this region. American Rental Association (ARA) implemented several regulatory interventions structuring the power rental market in North America. This is supplemented by growing end user applications in several energy intensive industries that has helped sustain the power rental industry in North America. Europe has several industries that generate substantial energy demand. Growing electricity prices and penalized bills owing to generation of high energy demand during peak hours is likely to enhance peak shaving application market. This in turn is expected to fuel overall product demand significantly in the coming years.

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Aggreko was one of the leading players of the market in 2012 and is likely to continue its dominance over the coming years. Customized products supplied by Aggreko are adding to its popularity amongst several consumers. Structured distribution network and strong brand equity in power rental market assists it in acquiring additional customer base. Caterpillar succeeds Aggreko and has strong presence in the U.S. APR energy is one of the leading participant in North America catering to its consumers efficiently. Emerging local players provide power rental units at low price tightening the competitive conditions. New power projects in Africa and MEA are encouraging market players to establish their manufacturing bases in the regions.

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