Power Rental – Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2023
PUNE, INDIA, January 12, 2018 /EINPresswire.com/ — Introduction
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 companies provides power rental equipment does not provide fuel but provides set up for meeting the power requirement. Growth in construction sector, increase in power consumption and shortage of power supply boost the market towards growth. The power rental has constraints which hinder the market such as stringent government regulations and emission regulation for diesel engines.
Power rental market is segmented on the basis of Fuel Type that includes Diesel, Gas and others. The study indicates, Diesel accounts for highest market share whereas gas is expected to be fastest growing in the power rental market. Diesel is dominating the market owing to fuel-efficient, self-contained, easily transportable, cost effective nature. Leading rental power suppliers offer exceptional quality gas based generators for pharma, bio-tech and gas field sectors. Based on application, Base Load accounted for the largest market share of 46.7% in 2016, with a market value of USD 5,577.3 million and is projected to grow at a CAGR of 9.28% during the forecast period.
According to the study, the emerging opportunity in the growth of power rental market includes growth in the developing economies and improvement in the life style and growing economy and growing urbanization is fueling the market growth. The global power rental market had been valued at USD 11,942.8 million in the year 2016, which is expected to reach USD 21,765.1 million by the end of the forecast period growing at 9.06 % CAGR.
The key players of power rental market includes Aggreko Plc. (U.K.), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Herc Rentals Inc. (U.S.), Speedy Hire Plc. (U.K.), Ashtead Group Plc. (U.K.), United Rentals, Inc. (U.S.), APR Energy (U.S.), Bredenoord Exploitatiemij B.V. (The Netherlands), L.M. Generating Power Co. Ltd. Ltd (Canada) and others.
Objective of Global Power Rental Market Analysis & Forecast, from 2017 to 2023
• To provide detailed analysis of the market structure along with forecast for the next ten years of the various segments and sub-segments included in global power rental market with analysis of its development and demand in the market
• Upcoming opportunities, high growth geographies and countries were identified
• Regional and country specific demand and forecast
• Key segments covered in the report are: fuel type and application.
• For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
• Historical trend is identified to forecast and estimate the future value data
• National/ State Government
• Real Estate Developers
• Research & consultant organization
• IT Solution Providers
• System Integrators
• Networking Solution Providers
• Telecom Service Providers
• Transportation Service Providers
• Utility Companies
• The Global Power Rental market is expected to reach USD 21,765.1 Million by 2023.
• By fuel type, Diesel accounts for the largest market share and is growing with approximately 9.69 % CAGR during forecast period.
• By Application, base load segment holds the largest market growing with approximately 9.28% CAGR by the end of forecast period.
• By End-User, Utilities segment holds the largest market growing with approximately 9.90% CAGR during the forecasted period.
• Geographically, North America region has been projected to have the largest market share in global power rental market followed by Asia-Pacific. Asia-Pacific region has been projected to show a positive growth rate in Power Rental market and is projected to grow at a CAGR of 8.98%.
Regional and Country Analysis of Power Rental Market Estimation and Forecast
The global Power Rental market is expected to grow at a promising rate during the forecast period, 2017-2023. North America is projected to have the largest market in Power Rental market. 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 holds immense potential for the industry growth over the forecast period. Recently, emerging economies contributing significantly to the demand for power rental in industrial sector owing to rapid industrialization.
Table of Content: Key Points
1 Executive Summary 12
2 Introduction 14
2.1 Definition 14
2.2 Scope of the Study 14
2.3 Assumptions 14
2.4 Market Structure 15
3 Research Methodology 16
4 Market Dynamics 20
4.1 Drivers 20
4.1.1 Growth in construction sector 20
4.1.2 Increase in power consumption 21
4.1.3 Shortage of power supply 22
4.2 Restraints 22
4.2.1 Stringent government regulations 22
4.2.2 Emission regulations for Diesel Engines 23
4.3 Opportunities 23
4.3.1 Scope in the Developing Nations 23
4.3.2 Strong growth in power generation 23
5 Market Factor Analysis 24
5.1 Porter's Five Forces Analysis 24
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Source: EIN Presswire