DUBLIN, August 3, 2017 /PRNewswire/ --
The "Power Rental Market by Fuel (Diesel, Gas, Dual Fuel & HFO), Power Rating, End Users (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping), Application (Peak Shaving, Base Load, Stand by), by Region - Global Forecasts to 2022" report has been added to Research and Markets' offering.
The global power rental market is projected to grow at a CAGR of 8.49%, from 2017 to 2022, to reach a market size of USD 20.64 Billion by 2022. This growth can be attributed to the increasing power demand, lack of power infrastructure, and revamping of old T&D infrastructure.
The report segments the power rental market, by application, into peak shaving, base load/continuous power, and standby power. The standby power segment is expected to grow at the highest CAGR during the forecast period. Standby power refers to the power consumed by electronic and electrical appliances while they are switched off or in standby mode. A standby generator is an electrical backup system that operates within seconds of a power outage. 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. These generators are used in hospitals, office buildings, and schools, among others.
The report segments the power rental market, by fuel type, into diesel generators, gas generators, and others. The gas generators segment is estimated to be the fastest growing power rental market, by fuel type, in 2017. Gas generators run mainly on natural gas and can be found in different sizes, ranging from portable to industrial. They are more efficient and cleaner than diesel generators, thus, helping reduce greenhouse gas emissions. Gas generators are preferred mostly by end-users as they emit the least amount of harmful pollutants, smoke, or particulate matter. They are mostly used for light duty applications, such as supplying electricity for residential purposes.
Payment issues in underdeveloped and developing nations, a rise in T&D expenditure, and uncertainty in raw material prices could act as restraints for the power rental market, leading to a decline in profits. The players in the power rental market provide services to developing and underdeveloped nations where infrastructure is very weak and the political climate fragile. Additionally, there are lengthy payment practices and unpredictability in payments in developing countries. The major market players who have undertaken contracts in countries such as Uruguay, Libya, Angola, Botswana, Mozambique, and Namibia are finding it difficult to receive payments from these countries. Such delays in payments can adversely affect the financial performance of the market players and managing these delays could affect their revenue growth, thereby, restricting the growth of the power rental market.
- APR Energy, PLC
- Aggreko, PLC
- Ashtead Group, PLC
- Atlas Copco
- Bredenoord Exploitatiemij B.V.
- Caterpillar, Inc.
- Cummins, Inc.
- Generac Power Systems
- Hertz Equipment Rental Corporation
- Kohler Co.
- Multiquip, Inc.
- Power Electrics Bristol Limited
- Rental Solutions & Services, LLC
- Smart Energy Solutions
- Soenergy International, Inc.
- United Rentals, Inc.
- Wacker Neuson SE
- Wärtsilä Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Power Rental Market, By Application
7 Power Rental Market, By End-Users
8 Power Rental Market, By Fuel Type
9 Power Rental Market, By Power Rating
10 Power Rental Market, By Region
11 Competitive Landscape
12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/mxglvv/power_rental
Laura Wood, Senior Manager
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SOURCE Research and Markets