The global power rental market is expected to witness substantial growth during the forecast period due to increasing demand for power witnessed across the globe. The, progression of power infrastructure, enhanced power consumption and swelling construction & development is projected to stimulate the demand for power rental in the near future. Furthermore, increasing demand for power from oil & gas segment is a major driving force contributing towards the growth of power rental market across the globe. Additionally, increasing demand for power in developing countries is expected to further expose new growth opportunities for the power rental market across the globe.
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The major factor pertaining towards the growth of global power rental market is the extensive demand for power and accessibility of innovative compressed air rental solutions. Extensive industrial movement and introduction of several macroeconomic factors is extensively contributing towards power demand. Moreover, the major advantage involved with renting power equipment includes abandoning upfront outlay, tax savings, upgraded technology, reducing burden on balance sheet and evading transportation and storage cost. However, the manifestation of stringent regulations along with rising environmental awareness is expected to hamper the market growth in the near future.
Oil & gas, utilities, mining, industrial, construction, events, and others are the key end-users of power rental market. The utility segment has been generating largest revenue throughout the historical and forecasted 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.
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Geographically, North America dominated the global power rental market and accounted for approax 30.0% of total revenue in 2017. The growth is mainly accredited towards increasing construction and progressive actions in this region. Asia-Pacific holds enormous prospective for the industrial growth during the forecast period. According to a recent study, it has been observed that developing economies such as Brazil, India and Saudi Arabia have been extensively fulfilling demand for power rental in industrialized segment owing to robust growth in industrialization.
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..