Rising Demand For Uninterrupted Power Supply Is Expected To Drive The Power Rental Market
Published On: March 2019 | Category: Technology

Today’s world is totally reliant on electric power. There are many things which are not manageable without electricity. Power rental is a concept where different electricity source is hired in special cases such as power goes out, a need for more power, backup for special events, power for remote events among others.  Power rental is a service which provides machinery, power equipment, and tools of all kinds and sizes for a short and long period of time to final users. Power on rent can deliver complete operating power packages as well as provide scalable components within large power station installations to various industrial applications.  

Rising demand for uninterrupted power is the primary driving factor of the Power Rental market. In addition, increasing power consumption gradually, development of power infrastructure, and increasing construction & development across the world is expected to drive the market at a fast pace in the coming years. However, stringent regulations may hamper the growth of the power rental market. Developing countries couple with infrastructural activities is expected to provide new opportunities for the growth of Power Rental.

The Global Power Rental market is estimated to register CAGR around 8.50% between 2019 and 2026. The study of Power Rental segments the market in fuel type, power rating, application and end-user, and regional segment. Based upon the fuel type, power rental market is classified as gas generators, diesel generators, and others. On the basis of the power rating segment, the market is segmented as Up to 50 kW, 51 kW-500 kW, 501 kW-2,500 kW and Above 2,500 kW. Standby Power, Base Load/Continuous Power, and Peak Shaving are the applications of the power rental. Based upon end-user, the market of power rental is classified as Mining, Oil & Gas, Events, Manufacturing, Shipping, Utilities, Construction, and Others. The regions covered in this report are North America, Europe, Asia-Pacific and Rest of the World. North America dominates the market with highest market share due to the existence of a large number of Power Rental vendors.

Atlas Copco, United Rentals, Inc., Wartsia Corporation, Caterpillar, Inc.,  Aggreko, PLC, Kohler Co., Hertz Equipment Rental Corporation, Soenergy International, Inc., Generac Power Systems, Rental Solutions & Services, LLC, Power Electrics Bristol Limited, Bredenoord Exploitatiemij B.V., Ashtead Group, PLC are some leading companies involved in the Power Rental market.

 



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