The market has only few global players, while the presence of regional and local players is high in this market.
Albany, NY -- (SBWIRE) -- 03/28/2018 -- Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled "Power Generator Rental Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025" offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Power Generator Rental Market have been elaborated upon in the research report.
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Global Power Generator Rental Market: Snapshot
Power generator rental market refers to the service market in which generator are available on rental basis for power generation purposes. This is an emerging market for developing and underdeveloped countries where power shortages is a major issue, and are slowly gaining popularity in these countries and regions. Power is an essential component for the enhancement of any country or economy and plays a vital role in development of the society. Generator rental is a relatively viable option for power generation in cases of power outages or in case of excessive demand for power. All the sectors of society at some point depend on these rental generators for their power requirements. These generators cater wide range of power demands whether from a single house or society or from a major event or from a power intensive industry.
The major driving factor behind the growth of power generator rental market is the rising electricity demand along with increased power outages which is a common problem especially in developed and under-developed countries. In the emerging markets the void between the demand for power and the pace of investment in new power generation capacities and in replacement of existing power infrastructure has resulted in the frequent outages and power cuts. This delay in the installation of new capacities mainly due to the capital constraints in these regions along with ageing infrastructures has become a key factor for this market.
Power Generators Market to Witness High Demand from End Users such as Oil & Gas & Mining Sectors
Power generator rental market are classified on the basis of generator rating as up to 100 KVA generator rating which are majorly used in residential and smaller commercial applications, 101- 500 KVA generator rating which found application in large commercial complexes, large-scale events, and smaller industrial sector, 501- 1000 KVA generator rating which is primarily used for medium to large scale industrial applications, and above 1000 KVA generator rating which are used in utilities and large scale industrial applications. The power generator rental can be classified based upon the fuel type as diesel and natural gas generators. The power generator rental market can also be segregated based upon end-user segment as: utilities, oil & gas, mining, construction, events, others.
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Rising Demand from Middle East & Africa to Create Lucrative Prospects for Growth
Regionally, the global power generator rental market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these nations, the market is likely to witness lucrative prospects in Asia Pacific and the Middle East and Africa. The existing gap between power demand and generation has escalated the demand for power generator rentals in both markets. Among the two regions, the Middle East and Africa is likely to hold dominance in the global market in terms of growth potential. The rising demand for power from developing economies in Africa, which depend upon rental power generators to meet their power requirements. Meanwhile, the markets in Europe and North America have reached maturity. TMR expects North America and Europe to grow at a slow pace in the forthcoming years.
The power generator rental market is very fragmented market. The market has only few global players, while the presence of regional and local players is high in this market. Major players in the power generator rental market include Aggreko PLC, APR Energy, Caterpillar Inc., Cummins Inc., Atlas Copco AB., and United Rentals, Inc.
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