Environment

Power Rental Market Ready For A Record Breaking Growth At 9.06% | Industry Demand by Forecast to 2023

Market Highlights

The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. The growing demand from the construction industries fueling the overall growth in the power rental market. However, stringent government regulations may hamper the growth of the market.

The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. They are used in various industrial and commercial applications. Shortage of power supply, will ultimately increase in the use of power rental equipment. This will lead to the growth of this market. In India, the demand of electricity has always been more than the supply, which causes problems for many industries. To boost the development of power supply, the government of India has created many corporations such as State Electricity Boards (SEB), NTPC Limited, and NHPC limited. Even after this developments there is shortage of power supply in the country.

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Key Players

  • Aggreko Plc.
  • Caterpillar Inc.
  • Cummins, Inc.
  • Herc Rentals Inc.
  • Speedy Hire Plc
  • Ashtead Group Plc.
  • United Rentals, Inc.
  • APR Energy

Scope of the Report
This study provides an overview of the global power rental market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Power rental market as fuel type, application and end-user.

By Fuel Type

  • Diesel
  • Gas
  • Others

By Application

  • Base Load
  • Stand by Power
  • Peak Shaving

By End-User

  • Oil & Gas
  • Utilities
  • Shipping
  • Manufacturing
  • Mining
  • Construction
  • Others

Regional Analysis of Global Power Rental Market:

Asia-Pacific was the second-largest market in 2016, valued at USD 2,663.2 million in 2016; it is projected to grow at a CAGR of 8.98% during the forecast period. The growth of the power rental market in the Asia-Pacific region is majorly driven by factors such as continued growth of constructional and developmental activities and the rapid increase in the demand-supply gap of electric power in emerging economies of the region. However, RoW is projected to grow at the highest CAGR of 10.98%.

North America region dominates the global power rental market. North America accounted for the largest market share of 31.60% in 2016, with a market value of USD 3,773.9 million. Aging grid infrastructure and natural calamities, which causes frequent power outages and increasing demand industrial sector fuelling the growth of the market in the region. Asia-Pacific was the second-largest market in 2016, valued at USD 2,663.2 million in 2016; it is projected to grow at a CAGR of 8.98% during the forecast period.

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