Power Rental Market 2019 Global Share, Growth and Trend Analysis by Top Industry Driving Companies with Latest Developments – P&S Intelligence

The growing demand for power, increasing population, and rising gross domestic product (GDP) are driving the power rental market. It generated a revenue of $9,167.6 million in 2017, and it is expected to advance at a 10.3% CAGR during the forecast period (2018–2023). The power generated by diesel and gas generators is called rental power. Such systems find application in places where no permanent electricity access is present, such as remotely located industrial plants. They can also be used during a disaster emergency, grid failure, and power blackout.

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Upsurge in the demand from the events and entertainment industry and power needs in the natural disaster-affected regions are some of the factors driving the power rental market growth. Power rentals are temporary power sources; they are usually diesel or gas based and are available in a variety of power ratings in the market. They are rented for both short and long durations, ranging from months to years.

The power rental market is segmented by region, fuel type, power rating, application, and end user. On the end user basis, the classifications are mining, utilities, events, oil & gas, construction, and industrial. In 2017, the utilities category contributed more than 45.0% revenue to the market. This is ascribed to the decommissioning or conversion of the aging thermal power plants into natural gas-based ones. Utility companies are renting power generators to compensate for the power demand-supply gap which occurs during the shutdown, conversion, or maintenance of power plants.

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The application segment of the power rental market is categorized into continuous power, prime power, and standby power. The largest application area during the historical period (2013–2017) was continuous power, which accounted for more than 45.0% revenue share in 2017. The high penetration of continuous power-based generators in industrial setups can be attributed to their ability of providing electricity at constant loads for extended time periods, which is why continuous power will still be the largest category during the forecast period.
Therefore, the market for power rental equipment is slated to experience prosperity in the forecast period owing to the increasing power requirement across the globe.

GLOBAL POWER RENTAL MARKET SEGMENTATION

By Fuel Type

  • Diesel generators
  • Gas generators
  • Others (gasoline, hydrogen, and solar generators)

By Application

  • Prime power
  • Standby power
  • Continuous power

By End User

  • Utilities
  • Oil and gas
  • Industrial
  • Construction
  • Events
  • Mining
  • Others (shipping, manufacturing, residential and commercial buildings, and military)

By Power Rating

  • Up to 50 kW
  • 51 kW–500 kW
  • 501 kW–2,500 kW

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of APAC
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of LATAM
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • South Africa
    • Rest of MEA