Fast Market Research announces the availability of the new Markets and Markets report, "Power Rental Market - Global Trends & Forecast to 2021", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 08/16/2016 -- Power Rental Market by Fuel (Diesel, Gas, Duel Fuel & HFO), Power Rating, End User (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping), Application (Peak Shaving, Base Load, Stand by), by Region - Global Trends & Forecast to 2021
"Power rental market projected to grow at a CAGR of 10.7% from 2016 to 2021"
The power rental market is projected to reach USD 21.25 billion by 2021, growing at a CAGR of 10.7% during the forecast period. Developing economies such as India, Brazil, South Africa, and Argentina face a shortage of electricity due to lack of permanent power capacity, thereby triggering the demand for power rentals. Failure to predict future electricity demand and the inability to finance major capital projects have also created a market for power rental solutions.
"Diesel Generators account for a large share of the power rental market"
In terms of market, by fuel type, diesel generators accounted for the largest share of the power rental market in 2015. Energy demand from developing countries has rapidly grown over the past decade. Increasing power demand unmet by existing grid infrastructure has resulted in frequent power outages and blackouts. For industries and the commercial sector, these power outages can be extremely costly. Diesel generators supply power to industries, the commercial and residential sectors during power cuts and prevent discontinuity in operations. Increasing need for continuous power supply and increase in number of planned events are the major drivers of the market.
Get More Details on this Report and a Full Table of Contents at Power Rental Market - Global Trends & Forecast to 2021
"North America: The largest market for power rental solutions"
North America is estimated to be the largest market for power rental solutions, followed by Africa and the Asia-Pacific. The U.S. accounted for the largest share in the North American power rental market in 2015, and is projected to grow at the highest CAGR from 2016 to 2021. This growth can be attributed to the aging T&D infrastructure, which causes frequent power outages and blackouts. The recovering construction industry in North America is a major factor for growth of power rental solutions. Africa is the second largest market for power rental solutions. Several countries in the African and Asia-Pacific regions still do not have 100% access to electricity. These factors are expected to fuel the demand in the power rental market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, corporate-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 46%, Tier 2- 36%, and Tier 3- 18%
By Designation: Corporate Level- 38%, Manager Level- 20%, and Others*- 42%
By Region: North America- 33%, Asia-Pacific- 20%, Europe- 24%, the Middle East -15%, South America- 5%, and Africa- 3%
Note: *Others include sales managers, marketing managers, product managers, and design engineers. The tier of the companies is defined based on their total revenue, as of 2013: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
Leading players in this industry have been profiled, along with their recent developments and other strategic activities. These include Aggreko PLC (U.K.), Caterpillar Inc. (U.S.), APR Energy PLC (U.S.),Cummins Inc. (U.S.) and Ashtead Energy PLC (U.K.).
Reasons to Get This Report
1. The report identifies and addresses key markets for diesel generators and is useful for suppliers and OEMs to review production and distribution plans
2. The report helps manufacturers to understand the pulse of the market and provides insights on drivers, restraints, and challenges.
The report will help OEMs to better understand their competition's strategies and will help in making strategic decisions.
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