Intelligence Market Research has Published New Market Research Report on – “Power Rental Market – Global Industry Analysis, Size Overview, Trends, Growth and Forecast by 2027.”
The power rental market is defined as the rental business of power generators or generators on hire, to fulfill demands of continuous power supply in-case of irregular power cuts and temporary power back-up. This include diesel and gas generators, which are either fixed, portable or towable to support power requirements for demanding applications in industrial as well as commercial sectors.
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Companies Covered in this Report :
- Atlas Copco
- United Rentals, Inc.
- Wartsia Corporation
- Caterpillar, Inc.
- Aggreko, PLC
- Kohler Co.
- Hertz Equipment Rental Corporation
- Soenergy International, Inc.
- Generac Power Systems
- Rental Solutions & Services, LLC
- The market in Asia Pacific Region is projected to exhibit the highest growth during the forecast period, owing to the increasing demand for continued power supply for demanding applications, in emerging economies such as China, India and others.
- In the Fuel Type segment, Diesel Generator is expected to dominate the power rental market throughout the forecast period.
- Among the End User segment, the Oil & Gas sector is expected to drive the market demand for power rental generators.
Unreliable and inconsistent power supply from local power grids
The growth in the power rental business is fueled by the unreliable power supply from the local grids due to poor power transmission network. This causes delay in the delivery of power for required production and operation within the end-use industries for demanding applications. Hence, auxiliary electrical power is required in the scenario of limited power supply, natural disasters, and lack of permanent power in remote locations. Rental generators comes handy while solving these problems for demanding applications in industrial and commercial sectors.
Stringent regulations and standards on emissions
Worldwide agencies, have enforced stringent and strict regulations that limits the emission pollutants from diesel and gas generators. The power rental providers and equipment manufacturers have to comply to these mandates and failing to do so invites heavy penalties and fine, which impacts the business profitability. Hence, such regulations would hinder the market growth.
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