Market Research Report
Power Rental Market Size By Power Rating, By Fuel, By End-Use, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||942672|
|Published||Content info||385 Pages
Delivery time: 2-3 business days
|Power Rental Market Size By Power Rating, By Fuel, By End-Use, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026|
|Published: June 10, 2020||Content info: 385 Pages||
Power Rental Market Size By Power Rating (<75 KVA, 75-375 KVA, 375-750 KVA, >750 KVA), By Fuel (Diesel, Gas, Others), By End-Use (Telecom, Data Center, Healthcare, Oil & Gas, Electric Utilities, Offshore, Manufacturing, Construction, Mining, Marine), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026.
The power rental market is projected to foresee commendable growth in coming years owing to the limited access to electricity in rural areas and growing demand for power from the healthcare sector. Power rental allows enterprises to avoid purchasing unaffordable and pricey power systems and making heavy investments by renting these systems instead.
Power renting has several benefits in comparison to buying. With rental units, the user has a variety of options at hand, which allows the customer to select the power system that is ideal for the energy needs of the business.
Additionally, buying can be quite costly, and is usually a long-term investment, which means that new businesses that are yet to be established do not find it a viable solution. On the other hand, renting allows the user to ensure uninterrupted power supply without investing heavily on setting up the needed infrastructure. Power rentals are also best for short-term requirements and in case of seasonal work.
In addition, renting also means that well-trained mechanics generally take care of all repairs and maintenance services associated with the system, which ensures that the equipment is running smoothly and proficiently. In contrast to buying, in renting the user is ensured a working and a well-oiled machine each time.
One more advantage of power rental is that the rental companies generally keep their equipment young, substituting machines as well as tools with latest versions. This in turn enables the user to be equipped with the best models in the market.
Moreover, rental companies also provide trained technicians to train the renters the proper safety techniques of operating the machines. They also give advice on the type of equipment needed for the job. Owing to these convenience factors, the demand for power rentals is set to grow up tremendously in comparison to buying them.
Power rental market is bifurcated in terms of power rating, fuel, end-use, application, and regional landscape.
Based on power rating, the power rental market is classified into > 750 KVA, 375-750 KVA, 75-375 KVA, and < 75 KVA. The 375-750 KVA segment is projected to witness considerable growth over the coming years owing to increasing industrialization across the globe.
In terms of end-use, the power rental market is categorized into marine, offshore, construction, mining, manufacturing, oil& gas, telecom, electric utilities, healthcare, and data center. The healthcare segment is expected to register tremendous growth through the forecast timeframe due to the growing number of medical facilities across the world.
The offshore end-use segment is set to grow at a CAGR of over 3% by end of the analysis period. Light weight, compact power generators and strong steam boilers are normally rented for offshore projects to facilitate a reliable power source to support all offshore activities.
From a regional frame of reference, Latin America region, specifically Brazil, will grow over 2% by the end of the analysis timeline. The region is creating immense demand for rental power services from several industrial verticals, mainly in oil & gas sector, which is an ideal avenue for power rental services.