The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. The companies provides power rental equipment does not provide fuel but provides set up for meeting the power requirement. Growth in construction sector, increase in power consumption and shortage of power supply boost the market towards growth. The power rental has constraints which hinder the market such as stringent government regulations and emission regulation for diesel engines.
Power rental market is segmented on the basis of Fuel Type that includes Diesel, Gas and others. The study indicates, Diesel accounts for highest market share whereas gas is expected to be fastest growing in the power rental market. Diesel is dominating the market owing to fuel-efficient, self-contained, easily transportable, cost effective nature. Leading rental power suppliers offer exceptional quality gas based generators for pharma, bio-tech and gas field sectors. Based on application, Base Load accounted for the largest market share of 46.7% in 2016, with a market value of USD 5,577.3 million and is projected to grow at a CAGR of 9.28% during the forecast period.
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According to the study, the emerging opportunity in the growth of power rental market includes growth in the developing economies and improvement in the life style and growing economy and growing urbanization is fueling the market growth. The global power rental market had been valued at USD 11,942.8 million in the year 2016, which is expected to reach USD 21,765.1 million by the end of the forecast period growing at 9.06 % CAGR.
The key players of power rental market includes Aggreko Plc. (U.K.), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Herc Rentals Inc. (U.S.), Speedy Hire Plc. (U.K.), Ashtead Group Plc. (U.K.), United Rentals, Inc. (U.S.), APR Energy (U.S.), Bredenoord Exploitatiemij B.V. (The Netherlands), L.M. Generating Power Co. Ltd. Ltd (Canada) and others.
Objective of Global Power Rental Market Analysis & Forecast, from 2017 to 2023
To provide detailed analysis of the market structure along with forecast for the next ten years of the various segments and sub-segments included in global power rental market with analysis of its development and demand in the market
Upcoming opportunities, high growth geographies and countries were identified
Regional and country specific demand and forecast
Key segments covered in the report are: fuel type and application.
For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
Historical trend is identified to forecast and estimate the future value data
National/ State Government
Real Estate Developers
Research & consultant organization
IT Solution Providers
Networking Solution Providers
Telecom Service Providers
Transportation Service Providers
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The Global Power Rental market is expected to reach USD 21,765.1 Million by 2023.
By fuel type, Diesel accounts for the largest market share and is growing with approximately 9.69 % CAGR during forecast period.
By Application, base load segment holds the largest market growing with approximately 9.28% CAGR by the end of forecast period.
By End-User, Utilities segment holds the largest market growing with approximately 9.90% CAGR during the forecasted period.
Geographically, North America region has been projected to have the largest market share in global power rental market followed by Asia-Pacific. Asia-Pacific region has been projected to show a positive growth rate in Power Rental market and is projected to grow at a CAGR of 8.98%.
Regional and Country Analysis of Power Rental Market Estimation and Forecast
The global Power Rental market is expected to grow at a promising rate during the forecast period, 2017-2023. North America is projected to have the largest market in Power Rental market. Aging grid infrastructure and natural calamities, which causes frequent power outages and increasing demand industrial sector fuelling the growth of the market in the region. Asia Pacific holds immense potential for the industry growth over the forecast period. Recently, emerging economies contributing significantly to the demand for power rental in industrial sector owing to rapid industrialization.
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The reports also cover country level analysis:
Rest of the Europe
Rest of Asia-Pacific
Rest of the World
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