Market Research Report
Power Rental-Global Market Outlook (2019-2027)
|Power Rental-Global Market Outlook (2019-2027)|
Published: March 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Power Rental market accounted for $8.09 billion in 2019 and is expected to reach $16.48 billion by 2027 growing at a CAGR of 9.3% during the forecast period. The growing need for electrification and continuous power supply in developing regions, demand for continuous power supply from mining and oil & gas industries and ageing power infrastructure and need for grid stabilization are the major factors driving the market growth. However, fluctuations in raw material prices and stringent environmental regulations market may hinder the market growth.
Power rental, also known as power on hire comes with various advantages over the other counterparts. The rental generators are helpful over the purchased generators as they supply flexibility within the power rating needed, negligible maintenance and installation prices promptly available on short notice, and lower initial prices among other alternative options. The manufacturers mainly prefer hiring generators just in case of maintenance of the present power supply system, lack of accessibility of grid infrastructure, and demand for power for a temporary time period. The rental power is a popular concept for the events that are organized across completely different components of the planet.
Based on fuel type, the diesel segment accounted for considerable market share during the forecast period due to economical operation, easy availability and storage. Diesel generator sets are perfect for long-term (prime) operations with a load of range 70-80% as they are typically designed to supply the top operational efficiency.
By geography, South America region holds a largest market share in the power rental market during the forecast period. The South America region is among the key producer of lithium and graphite with mining activities in Brazil, Argentina and Chile. The grid infrastructure in South America has not reached the remote places such as the Caribbean islands where the power rental is still the major source of power. Owing to such conditions, the power rental market is expected to gain traction in the South America region.
Some of the key players profiled in the Power Rental market include: Aggreko, APR Energy, Atlas Copco, Caterpillar Inc, Cummins Inc, FG Wilson, Generac Power Systems, Kohler Co, Newburn Power Rental Ltd, NIDS Group, Shenton Group, Speedy Hire PLC, Sudhir Power Ltd, Wacker Neuson Group, Wartsila company.
Fuels Type Covered:
Equipments Type Covered:
Rentals Type Covered:
Power Ratings Covered:
End Users Covered:
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Table17 Global Power Rental Market Outlook, By Generator (2018-2027) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.