The report “Global Power Rental Market, By Application (Peak Shaving, Continuous Power, and Standby Power), By End-use (Government, Oil and Gas, Construction, Industrial, Events, and Others), and Region – Global Forecast to 2029″ Global power rental market is projected to grow from US$ XX billion in 2019 to US$ XX billion by 2029. Global power rental market is driven by increasing demand of power outages, improvement in power infrastructure, and growth in the construction industry. Increase in demand for power from the oil & gas industry is factors estimated to accelerate growth of the global power rental market over the forecast period. Strict regulations and pollutions made by various governments for reducing pollution results in rising ecological concerns boost growth of the global market. Rising awareness to limited power consumption during non-peak and peak hours is another factor expected to propel growth of the global power rental market over the forecast period. Moreover, increasing demand of temporary power supply source during the time of festivals, fairs, and events is expected to drive growth of the global market over the forecast period. Furthermore, increasing focus towards decreasing peak power consumption to reduce electricity cost is further expected to support growth of the global market over the forecast period. Nevertheless, Innovative product development by using advanced technologies is expected to create potential revenue opportunities for players operating in the market during the forecast period.
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- On December 2018, Aggreko was awarded with an Olympic Supply Contract which was valued at US$200 Mn.
- On May 2019, Caterpillar Inc. has released its 2018 annual and sustainability report entitled “Let’s Do the Work”. The report gives the details of the company’s progress on executing the enterprise strategy and the benefits being realized for customers, dealers, employees, shareholders and communities around the world.
Key Market Insights from the report:
The global power rental market accounted for US$ XX billion in 2019 and is projected to register a moderate CAGR of XX% over the forecast period. The market report has been segmented on the basis of application, end-user, and region.
- By application, the global power rental market is segmented into peak shaving, continuous power, and standby power.
- By end-use, the global power rental market is categorized into government, oil and gas, construction, industrial, events, and others.
- By region, the global power rental market in North America followed by Europe is projected to have significant growth in terms of revenue, owing to growing demand of power rental units by end-use segment in various countries in these regions. The global market in Asia Pacific is expected to account for significant growth over the forecast period, owing to rising industrial applications and increasing awareness of power consumption in developing countries such as India and China.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Power Rental Market”, By Application (Peak Shaving, Continuous Power, and Standby Power), By End-use (Government, Oil and Gas, Construction, Industrial, Events, and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029
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The prominent player operating in the global power rental market includes Aggreko PLC, Caterpillar Inc., Ashtead Group PLC, Cummins, Inc., Atlas Copco CB, Speedy Hire PLC, Kohler Co., Hertz Corporation, Soenergy International Inc., and Rental Solutions & Services LLC.
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