Power Rental is defined as power that is leased out for a specific amount of time and is governed by either a verbal or written agreement. Power rental is increasingly used in many industries, as it can supply immediate power such as for power outage in remote locations with no power networks. Benefits of power rental include – increased end-customer advantage, improved profitability, fuel management, fleet management, reliability, design integration and after sales support.
The Global Power Rental Market was valued at USD 12.62 billion in 2016 and is projected to reach USD 26.36 billion by 2025, growing at a CAGR of 8.53% from 2017 to 2025.
1. Market Drivers
1.1 Obsolete permanent power plants
1.2 Rising demand for power
1.3 Obsolete T&D infrastructure
1.4 Growing demand for customized compressed air rental solutions
1.5 Emergence of next-generation air compressors
2. Market Restraints
2.1 Growing focus on renewable energy
2.2 Stringent emission regulations
2.3 Changing raw material prices
2.4 Payment issues in underdeveloped and developing nations
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The Global Power Rental Market is segmented on the fuel type, application, power rating, end user, and region.
1. Fuel Type:
1.1 Gas Generators
1.2 Diesel Generators
2. By Application:
2.1 Standby Power
2.2 Base Load/Continuous Power
2.3 Peak Shaving
3. By Power Rating:
3.1 Up to 50 kW
3.2 51 kW–500 kW
3.3 501 kW–2,500 kW
3.4 Above 2,500 kW
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4. By End User:
4.2 Oil & Gas
5. By Region:
5.1 North America U.S., Canada, Mexico
5.2 Europe Germany, UK, France, Rest of Europe
5.3 Asia Pacific China, India, Japan, Rest of Asia Pacific
5.4 Latin America Brazil, Argentina, Rest of Latin America
5.5 Middle East & Africa
The major players in the market are as follows:
1. Atlas Copco
2. United Rentals, Inc.
3. Wartsia Corporation
4. Caterpillar, Inc.
5. Aggreko, PLC
6. Kohler Co.
7. Hertz Equipment Rental Corporation
8. Soenergy International, Inc.
9. Generac Power Systems
10. Rental Solutions & Services, LLC
11. Power Electrics Bristol Limited
12. Bredenoord Exploitatiemij B.V.
13. Ashtead Group, PLC
14. Cummins, Inc.
15. APR Energy, PLC
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology of Planet Market Reports
Research study on the Global Power Rental Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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Organization: Planet Market Reports