Power Rental Market Overview, Manufacturing Cost Structure Analysis, Future Trends, Business Strategy, Growth Opportunities & Restraints to 2023
Dec 5, 2018
Global Power Rental Market Information by Fuel Type (Diesel, Gas and Others), by Application (Base Load, Stand by Power, and Peak Shaving), by End-User (Oil & Gas, Utilities, Shipping, Manufacturing, Mining, Construction and Others) and by Region - Forecast to 2023
Pune, India - December 5, 2018 /MarketersMedia/ —
Global Power Rental Market – Competitive Analysis
Key Players operating in the Global Power Rental Market offer a broad variety of products and turnkey solutions, from planning to installation at short turnover periods along with consistent support and maintenance. Each one of them has a broad variety of products with their fleet to provide complete turnkey solutions right from planning to installation within a short turnover period. Along with a broad variety of products and turnkey solutions they also provide consistent support and maintenance.
Power Rental or renting generator sets for power generation is a cost-effective solution that allows reliable power supply while ruling out the initial buying cost of generators. Rental power is used in conditions where immediate power is required such as for shaving of peak hour demand, or as a base load in remote locations where power network is not available.
The ever-increasing population and urbanization in recent years have fueled industrialization across the globe. This has further encouraging the governments to initiate big budgeted infrastructure development projects to encourage tourism, leading to driving the growth in the hotel industry. This has also led to an increase in the construction sector defining the enormous scope for usages of power rental equipment. Needless to say, that the Power Rental Market is growing pervasively.
Market Research Future (MRFR) in its recently published study report asserts that the Global Power Rental Market will garner USD 21,765.1 Mn. by 2023, registering a CAGR of over 9% between 2017 to 2023. The significant shift towards gas generators due to the increased usages of gas generators in the rental power is the prevailing trend observed in the market propelling the market growth.
Additional factors substantiating the market growth include the rising demand for power, and the financial benefits of renting power equipment rather than buying one have proved to be the key driving force responsible for the growth in the global power rental market. The rise in infrastructure development is increasing the demand for electricity, becoming one of the necessities in the development of a country.
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Industry/Innovation/ Related News:
February, 2018 - Honeywell launched a new APU Engine Rental Bank Service for Airbus A330 and A340 joining the forces with rental dealership Logix Aero to provide an auxiliary power unit Engine Rental Bank that offers Honeywell’s 331-350C auxiliary power units to operators with Airbus A330 and A340 aircraft on rent.
January, 2018 - H&E Equipment Services (US) announced that it has acquired Rental Inc. (US) equipment Rental Company offering line of equipment for hire, including power products. The deal was closed at USD68.6 million.
January, 2018 - Aggreko plc. (UK) leading supplier of temporary power generation equipment announced that it has acquired stake in Chinese power renter starting a power rentals joint venture through the acquisition of 21.5% of Shanghai Yude, a company employing 45 people and with a power rental fleet of more than 40 MW. The JV - Shanghai Yude Aggreko Energy Equipment Rental Co Ltd. is part of its long term strategy to expand in China with a local partner
Worldwide Power Rental Market – Segments
For the convenience of the report and enhanced understanding; The Power Rental Market is segmented in to 4 key dynamics
By End Users : Comprises Oil & & Gas, Utilities, Shipping, Manufacturing, Mining, Construction, and others.
By Fuel : Diesel, Gas and others.
By Application : Base Load, Stand by Power and Peak Shaving.
By Regions : North America, Europe, APAC and Rest of the World.
Global Power Rental Market – Geographical Analysis
The North America Power Rental Market acquired the largest as in 31.60% of the market share, registering a market value of USD 3,773.9 Mn., in 2016. Factors substantiating the market growth in the region include aging grid infrastructure and natural calamities that are causing frequent power outages, increasing demand from events along with the upsurge in the construction industry due to the infrastructure development projects.
Besides, the increasing demand for power from the industrial sector, the steady shift from ownership to the rental of power equipment are also assisting the growth of the power rental market in the region.
The Asia Pacific region, emerging as another lucrative market for power rental garnered USD 2,663.2 Mn. in 2016. Several transmission and distribution projects are expected to be initiated during the forecast period, which will help the APAC Power Rental Market to register over 8% CAGR during the review period.
Browse The Full Research Report At@ https://www.marketresearchfuture.com/reports/power-rental-market-1226
Power Rental Market Table of Contents:
• Executive Summary
• Introduction
• Research Methodology
• Market Dynamics
• Market Factor Analysis
• Global Power Rental Market, By Fuel Type
• Global Power Rental Market, By Application
• Global Power Rental Market, By End-User
• Global Power Rental Market, By Region
• Competitive Scenario
Power Rental Market Table of Contents Content to be Continue....,
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Source: MarketersMedia
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