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(Transportation-News.com, October 18, 2017 ) According to Publisher,the Global Power Rental Market is accounted for $12.64 billion in 2016 and expected to grow at a CAGR of 10.1% to reach $24.92 billion by 2023. The market is driven by increasing demand for power, new customized compressed air rental solutions and expanding construction activity in GCC countries. However, the presence of stringent regulations coupled with rising environmental awareness, rise in distributed energy and battery storage might hamper the market growth. Next-generation air compressors and obsolete permanent power plants will provide good opportunity for the market growth.
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Based on Application, the standby power segment is anticipated to grow at the highest CAGR during the forecast period. Standby power is designated as, the power consumed by electronic and electrical appliances while they are switched off or in standby mode. The transfer switch senses the loss of power and accordingly starts or shuts off the generator. Most units run on diesel, natural gas, or liquid propane gas. Peak shaving will grow significantly as Peak shaving is the process of reducing the amount of energy purchased from the utility company during peak demand hours. Utility companies typically have variable pricing based on demand, and the pricing during the peak demand hours is typically the highest.
The gas generators segment is projected to be the fastest growing market because these generators run mainly on natural gas. They are more efficient and cleaner. They are mostly used for light duty applications, such as supplying electricity for residential purposes. Among the end-user, the construction sector led the market due to growth of infrastructural development in the emerging economies. However, Oil & gas segment is also expected to exhibit substantial demand as there is huge power requirement in onshore and offshore oil and gas fields. Most of the drilling sites and oil rigs are located in remote areas where there is limited access to grid power.
The European market is anticipated to be the fastest growing power rental market. Factors such as increased power consumption and aging power plants as well as a majority of the nuclear power plants in Europe are over 50 years old, thus, increasing the risks of power outages. Growing construction markets especially in Central and Eastern Europe are aiding market growth for power rentals. Hence with rapid industrialisation and commercialisation engulfing the Eastern European region, the power rental markets are expected to benefit. The North American market is expected to dominate the market during the forecast period due to the macroeconomic factors influencing the market and an increase in infrastructure development.
The key players in global Power Rental market are Aggreko plc, APR Energy, Atlas Copco, Energyst, Himoinsa, United Rentals, Inc., Sunbelt Rentals, Inc., Herc Rentals, Inc. and Caterpillar, Inc.
Fuel Types Covered:
-Gas Generators
-Diesel Generators
-Other Fuel Types
Power Ratings Covered:
-Up to 50 kW Power Rating
-51 kW-500 kW Power Rating
-501 kW-2,500 kW Power Rating
Applications Covered:
-Base Load/Continuous Power
-Peak Shaving
-Standby Power
End Users Covered:
-Construction
-Events
-Manufacturing
-Mining
-Oil & Gas
-Shipping
-Utilities
-Other End Users
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Regions Covered:
-North America
US
Canada
Mexico
-Europe
Germany
UK
Italy
France
Spain
Rest of Europe
-Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
-South America
Argentina
Brazil
Chile
Rest of South America
-Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
Company Profiling
11.1 Aggreko plc
11.2 APR Energy
11.3 Atlas Copco
11.4 Energyst
11.5 Himoinsa
11.6 United Rentals, Inc.
11.7 Sunbelt Rentals, Inc.
11.8 Herc Rentals, Inc.
11.9 Caterpillar, Inc.
For more information about this report: http://www.reportsweb.com/power-rental-global-market-outlook-2017-2023
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Rajat Sahni
+1-646-491-9876
sales@reportsweb.com
Source: EmailWire.Com 
Source: EmailWire.com
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