The global power rental market is projected to reach USD 21.25 Billion by 2021, growing at a CAGR of 10.7% from 2016 to 2021. This growth can be attributed to the lack of electricity supply, rise in construction and infrastructural activities, and increase in number of planned events, triggering an increasing demand for energy.
Seattle, WA -- (SBWIRE) -- 07/21/2017 -- The report "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", The global power rental market is projected to grow from an estimated USD 12.88 Billion in 2016 to USD 21.25 Billion by 2021, registering a CAGR of 10.7%. Factors such as lack of electricity access, aging T&D infrastructure and the rise in global construction and infrastructural activities are driving the global market for power rental solutions.
Browse 116 market data Tables and 54 Figures spread through 201 Pages and in-depth TOC on "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"
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Utilities-the key end-user of power rental market
Utilities are the major end-users of power rental solutions. In 2015, utilities constituted the largest segment of the power rental market, and accounted for the largest share of the total market. Increasing power demand, lack of grid stability & support and low electrification rates are the major driving factors of the power rental market in the utilities segment.
Stand by power segment expected to grow at the highest CAGR in the power rental market
The market on the basis of application has been segmented into standby, peak shaving, and base load/ continuous power. Rapidly growing demand for power across different industries is the primary growth driver of this segment.
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North America to dominate the market for power rentals
In this report, the power rental market has been analyzed with respect to six regions namely, North America, Africa, Asia-Pacific, South America, Europe, and the Middle East. North America is estimated to dominate the market, owing to factors such as aging grid infrastructure and natural calamities, which causes frequent power outages. Furthermore, the construction and manufacturing industry is gradually recovering from the slowdown in 2016 and is also expected to drive the demand for rental power solutions.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the power rental market Aggreko PLC (U.K.), Caterpillar Inc. (U.S.), APR Energy PLC (U.S.), Cummins Inc. (U.S.) and Ashtead Energy PLC (U.K.).These players are trying to penetrate developing economies and are adopting various methods to increase their market share.
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