PUNE, India, July 21, 2016 /PRNewswire/ --
The power rental market is projected to reach $21.25 billion by 2021, growing at a CAGR of 10.7% during the forecast period - diesel generators accounted for a large share of the power rental market with regional domination of North America holding largest market share for power rental solutions.
Complete report on global power rental market spread across 201 pages, profiling 15 companies and supported with 116 tables and 54 figures is now available http://www.rnrmarketresearch.com/power-rental-market-by-fuel-diesel-gas-duel-fuel-hfo-power-rating-end-user-utilities-oil-gas-events-construction-mining-manufacturing-shipping-application-peak-shaving-base-load-stand-by-by-r-st-to-2021-market-report.html .
Developing economies such as India, Brazil, South Africa, and Argentina face a shortage of electricity due to lack of permanent power capacity, thereby triggering the demand for power rentals. Failure to predict future electricity demand and the inability to finance major capital projects have also created a market for power rental solutions.
In terms of market, by fuel type, diesel generators accounted for the largest share of the power rental market in 2015. Energy demand from developing countries has rapidly grown over the past decade. Increasing power demand unmet by existing grid infrastructure has resulted in frequent power outages and blackouts. For industries and the commercial sector, these power outages can be extremely costly. Diesel generators supply power to industries, the commercial and residential sectors during power cuts and prevent discontinuity in operations. Increasing need for continuous power supply and increase in number of planned events are the major drivers of the market.
North America is estimated to be the largest market for power rental solutions, followed by Africa and the Asia-Pacific. The U.S. accounted for the largest share in the North American power rental market in 2015, and is projected to grow at the highest CAGR from 2016 to 2021. This growth can be attributed to the aging T&D infrastructure, which causes frequent power outages and blackouts. The recovering construction industry in North America is a major factor for growth of power rental solutions. Africa is the second largest market for power rental solutions. Several countries in the African and Asia-Pacific regions still do not have 100% access to electricity. These factors are expected to fuel the demand in the power rental market.
Leading players in this industry have been profiled, along with their recent developments and other strategic activities. These include Aggreko PLC (U.K.), Caterpillar Inc. (U.S.), APR Energy PLC (U.S.),Cummins Inc. (U.S.) and Ashtead Energy PLC (U.K.). Order a copy of Power Rental Market by Fuel (Diesel, Gas, Duel Fuel & HFO), Power Rating, End User (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping), Application (Peak Shaving, Base Load, Stand by), by Region - Global Trends & Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=636953 .
In the process of determining and verifying, the power rental market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (46%), Tier 2 (36%) and Tier 3 (18%) companies were contacted for primary interviews. The interviews were conducted with various key people such as Corporate Level (38%), Manager Level (20%) and others (42%) from various key organizations operating in the global power rental market. The primary interviews were conducted worldwide covering regions such as North America (33%), Asia-Pacific (20%), Europe (24%), the Middle East (15%), South America (5%) and Africa (3%).
On a related note, another research on Power Rental Global Contracts & Deals Analysis 2011 to 2015 says, Growing construction and developmental activities are expected to drive the power rental market. Contracts & Agreements accounted for the largest development share from 2011 to 2015. Africa is expected to lead the global power rental market in terms of growth rate, followed by North America. Companies like Aggreko Plc., Caterpillar Inc., APR Energy plc., Ashtead Group Plc., Cummins Inc., Atlas Copco, Hertz Corporation, Speedy Hire Plc., United Rentals Inc., Kohler Co. Inc., Smart Energy Solutions and Generac Power Systems have been profiled in this 164 pages research report available at http://www.rnrmarketresearch.com/power-rental-market-by-end-user-industry-peak-primebase-standby-application-diesel-gas-generatorengine-type-global-trends-forecasts-2012-2017-market-report.html .
Explore more reports on energy & power market at http://www.rnrmarketresearch.com/reports/energy-power .
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