Power Rental Market to Reach $16,855.5 Million by 2023: P&S Market Research

NEW YORK, April 11, 2018 -- According to the new market research report published by P&S Market Research, Global power rental market is projected to reach $16,855.5 million by 2023, 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.

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Diesel-based generators held the largest share in the power rental market during the historical period and are estimated to contribute more than 75.0% share to the market in 2017. The wide prevalence of diesel-based generators can be attributed to their relatively reasonable cost, long life, and low maintenance requirement as compared to other generators. Continuous power-based generators held the largest share in the power rental market during the historical period and are estimated to account for more than 45.0% share in the market in 2017. Industrial sites, oil and gas facilities, and construction and mining sites are some of main end users of continuous power-based rental generators driving their market growth.

The end-user category of utilities held the largest share in the power rental market during the historical period and is estimated to account for more than 45.0% share in the market in 2017. Increase in government regulations with respect to growing concerns regarding harmful emissions from old and outdated thermal power plants is driving the use of power rentals in the utilities sector, which, in turn, is contributing to their market growth.

Generators of power rating 51 kW–500 kW held the largest share in the power rental market during the historical period and are estimated to account for more than 45.0% of the market in 2017. The increasing demand for rental generators of 51 kW–500 kW power rating for different residential and commercial purposes is expected to drive their market growth.

Browse report overview with 83 tables and 57 figures spread through 140 pages and detailed TOC on "Power Rental Market by Fuel Type (Diesel Generators, Gas Generators), by Application (Prime Power, Standby Power, Continuous Power), by End User (Utilities, Oil & Gas, Industrial, Construction, Events, Mining), by Power Rating (Up to 50 kW, 51 kW–500 kW, 501 kW–2,500 kW), by Geography (U.S., Canada, Germany, France, U.K., Italy, Spain, China, Japan, India, Brazil, Mexico, Saudi Arabia, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023" at: https://www.psmarketresearch.com/market-analysis/power-rental-market

During the forecast period, the power rental market is expected to witness the highest growth, of 11.0% CAGR, in the MEA region. This can be attributed to the growing utilities sector, increasing number of construction projects, power grid unavailability in remote locations, extreme weather events, and post-disaster emergencies in the region. Also, the region is expected to continue holding the largest share, of more than 30.0%, in the power rental market in the coming years.

Some of the major players operating in the global power rental market are Aggreko PLC, APR Energy, Caterpillar Inc., United Rentals Inc., Cummins Inc., Herc Holdings Inc., Atlas Copco AB, Ashtead Group PLC, Al Faris Group, and Quippo Infrastructure Equipment Limited.

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