- The key vendors in the North American Power Rental Market 2015-2019 are Aggreko plc, Cummins Inc., Sunbelt Rentals Inc., Hertz Corp. and United Rentals Inc.
London, 16 December 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the North American Power Rental Market 2015-2019. One major trend emerging in this market is the increasing adoption of gas generators as rental power. Various emission norms have led to the emergence of gas generators, as they are low in emissions and cost-effective. The North America Power Rental market is expected to grow at a CAGR of 18.3 percent during the period 2015-2019.
The demand for electricity is moderately increasing every year in North America mainly because of the growth of the Industrial, Construction, and Oil and Gas sectors in the US and Mexico. The need for a constant supply of electricity is fueling the market for rental power. Supply shortfalls and increased power demand and urgency to bridge the demand-supply gap also drive the growth of this market. To keep pace with growing demand, additional resources are required to compensate the demand-supply power gap.
“Any end-users prefer gas-based low power range generators rather than diesel generators, as they are more cost-effective,” says Faisal Ghaus, Vice President of TechNavio Research.
“The increasing adoption of low-range power rental equipment enhances the potential of the overall market. Many vendors have begun to focus on low power range rental power.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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