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Power Rental Market

Global Power Rental Market is expected to foresee significant growth. APAC to lead the growth!

The global power rental market is expected to witness a CAGR of around 7% during the forecast period (2021–2027). Rising investments in power transmission and distribution networks coupled with the growing augmentation and modernization of transmission and distribution networks across the globe are expected to drive the market. Power rental refers to the facility of temporarily renting power equipment for supplying energy across industries. It delivers functioning power equipment along with various scalable components, which are installed in power stations. It also offers reliability, flexibility, speed, and cost-effectiveness to businesses for coping with brief shortages of power. The power rental services are aimed to stabilize utility power grids and provide additional energy to industries and support communities. Owing to this, it finds extensive application across the construction, mining, and oil & gas industries.

However, industry growth witnessed some stress and negative impact due to COVID-19. The sudden outbreak of COVID-19 has sent shockwaves across industries manufacturing, power generation, renewables, nuclear, and oil and gas. The outbreak and the resulting economic slowdown have had an intermediate impact on power rental.

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Based on application, the market is classified into continuous load, standby load, and peak load. Amongst them, in 2020, the continuous load category dominated the market. This is mainly due to the rising need for continuous power supply in remote locations such as mining, construction, oil & gas operations, ships, etc. where the access to grid supply is not present. Here, the equipment installed act as primary power equipment such as the use of generators as the primary power source. In addition, the rise in population and urbanization rate coupled with the increasing demand for electricity has resulted in the expansion of prime power generation capacity.

Based on equipment, the market is classified into generators, transformers, load banks, and others. Amongst them, the generators category is accounted for a significant market share in 2020. Robust infrastructure expansion, as well as the growing importance of power backup solutions and emergency preparedness among end-users, is expected to drive the category’s growth. The generator category is further bifurcated into diesel, natural gas, and other fuel types. Diesel-fueled units are set to witness a steady deployment rate driven by their ability to provide weather-independent, scalable, and flexible operations. These systems offer round-the-clock power availability and low up-front costs which is further expected to support the generator category’s growth. However, stringent emission control norms may hamper the sales of these systems during the forecast period.

Based on power rating, the market is categorized into Up to 50 kW, 51 kW – 500 kW, 501 kW – 2500 kW, and Above 2500 kW. During the forecast period, the 501–2,000 KW category is expected to witness significant growth in the global power rental market owing to its greater applicability driven by increasing demand for backup power in commercial spaces such as hotels, telecom towers, and educational institutions Furthermore, the rising population and rapid urbanization have increased the demand for a consistent supply of electricity. Demand for power rental systems will be driven by the lack of additional infrastructure requirements and lower setup costs, as well as the growing urgency to maintain continuous business operations.

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For a better understanding of the market adoption of the power rental industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and the Rest of World. Asia Pacific holds the extensive market share predominantly because the region is witnessing some of the largest T&D expansions due to rapidly increasing demand in countries such as India and China. Furthermore, the demand for power rental systems is increasing in the region due to their cost-effectiveness as they require low installation costs and negligible maintenance, as well as provide an uninterrupted and reliable power supply.

Some of the major players operating in the market include Caterpillar Inc., Cummins Inc., Aggreko plc, Ashtead Group plc, United Rentals Inc., Atlas Copco AB, Herc Rentals Inc., Generac Holdings Inc., Wacker Neuson SE, and Kohler Co.

Global Power rental Market Segmentation

Market Insight, by Application

  • Continuous Load
  • Standby Load
  • Peak Load

Market Insight, by Equipment

  • Generators
    • Diesel
    • Natural Gas
    • Others
  • Transformers
  • Load Banks
  • Others

Market Insight, by Power Rating

  • Up to 50 kW
  • 51 kW – 500 kW
  • 501 kW – 2500 kW
  • Above 2500 kW

Market Insight, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Rest of World

Top Company Profiles

  • Caterpillar Inc.
    • Cummins Inc.
    • Aggreko plc
    • Ashtead Group plc
    • United Rentals Inc.
    • Atlas Copco AB
    • Herc Rentals Inc.
    • Generac Holdings Inc.
    • Wacker Neuson SE
    • Kohler Co.

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