Global power rental market was valued at USD 9.3 billion in 2017. The market is further expected to witness significant growth during the forecast period owing to increasing utilization of power across the globe. Increasing emphasis on construction and development, progression of power infrastructure and enhanced power consumption is projected to uplift the demand for power rental in the near future.
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The power rental market on the basis of end-user is segmented on the basis of utilities, construction, oil & gas, manufacturing, mining, shipping, events and others. The utility segment has been generating largest revenue throughout the historical and forecast period. Utilities segment includes power plants that are operated and maintained numerous utility enterprises and government organization. With the help of established distribution line the utility suppliers ensures efficient delivery of energy from power plants to commercial and residential buildings across the globe. The initial investment for establishing enduring power plants necessitates huge capital investment. Moreover, increasing demand for establishing consistent economic power has accentuated the need for operating power rental systems in full capability and at affordable costs across the globe.
The key players in this market are persuading their processes in order to meet the target of making energy accessible and cater the demand of huge population. To fulfill this mission the players are expanding their distribution network and transmission. The companies are laying emphasis on restructuring and implementing effective packages and more investments in T&D are observed in the near future. Implementation of several efficiency developments reforms along with use of eco-friendly technology is further expected to create opportunities for various stakeholders in this market.
The North American market is expected to dominate the power rental market during the forecast period owing to huge demand for electricity in this region. Moreover, the region is following federal policies of carbon and is try to face challenges such as attaining energy efficiency targets. Furthermore, extensive infrastructure development, increasing demand for power from several industries such as oil & gas, construction, industrial, mining sectors and utilities is strengthening growth of this market in this region. The region comprises of headquarters certain key players in the industry as well such as Cummins, Inc., United Rentals, Inc., and Caterpillar, Inc.
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Key players in the global power rental market includes APR Energy, Aggreko PLC, United Rentals Inc., Herc Holdings Inc., Caterpillar Inc., Quippo Infrastructure Equipment Limited., Ashtead Group PLC, Atlas Copco AB, Al Faris Group, and Cummins Inc.