ID: MRFR/E&P/0718-CRR | May, 2017 | Region: Global | 123 pages | Cooked Research Reports
The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. They are used in various industrial and commercial applications. Shortage of power supply, will ultimately increase in the use of power rental equipment. This will lead to the growth of this market. In India, the demand of electricity has always been more than the supply, which causes problems for many industries. To boost the development of power supply, the government of India has created many corporations such as State Electricity Boards (SEB), NTPC Limited, and NHPC limited. Even after this developments there is shortage of power supply in the country. Hence the use of power rental equipment is more. Additionally, many countries looking to develop their infrastructure, heavy investments have been made to boost the infrastructural activities globally. This also has the positive impact on the growth of the market. However, emission regulations for diesel engines, is the factor that may hamper the growth of 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.
Regional Analysis of Global Power Rental Market:
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 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.
Study Objectives of Global Power Rental Market:
The report for Global Power Rental Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.