The Global Power Rental Market Is Expected To Grow At A CAGR Of 11.2% From 2017 To 2025.
Power rental has become important in developing economies where rental power is necessary to meet the energy demand during peak hours. Using power rentals to meet the energy demand and to provide uninterrupted power is easier and more convenient than maintaining a reserve plant for back up. This is one of the major factor fueling the demand for power rentals in the industrial sector, specifically in developing nations.
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Based on the fuel type, the market is divided into diesel, gas, and others including dual fuel, hybrid, and HFO (Heavy Fuel Oil) generators. According to power rating, it is categorized from less than 10 kW to more than 2500 kW. According to application, the market is segmented into stand by power, peak shaving, and base load/continuous power.
Market Dynamics:
Drivers:
- Ageing of conventional grids has led to grid instability, which in turn is contributing to the growth of the global power rental market.
- Growing awareness regarding reduction in energy demand during peak hours is also benefitting the global market.
Restraints:
- Changing preferences and inclination toward renewable energy is expected to hinder growth of the power rental market.
Market Players:
The top players in the global power rental market include Aggreko PLC (UK), Cummins Inc. (U.S.), APR Energy PLC (U.S.), Caterpillar Inc. (U.S.), Ashtead Energy PLC (UK), Rental Power Solutions (U.S.), United Rentals (U.S.), Worldwide Power Products (U.S.), Speedy Hire (UK), and Power Electronics (UK).
KEY TAKEAWAYS
MARKET LANDSCAPE
By Fuel Type
- Diesel
- Gas
- Others
By Application
- Standby Power
- Peak Shaving
- Base Load/Continuous Power
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Based on the end-users, the market segmentation includes oil & gas, construction, mining, utilities, manufacturing, shipping, and others (military and telecommunications). Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
By Power Rating
- Less than 10 kW
- 11 kW to 20 kW
- 21 kW to 50 kW
- 51 kW to 100 kW
- 101 kW to 250 kW
- 251 kW to 500 kW
- 501 kW to 1000 kW
- 1001 kW to 1500 kW
- 1501 kW to 2000 kW
- 2001 kW to 2500 kW
- Above 2500 kW
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