Technavio, a tech-focused market research firm, has published a new report on the global generator rental market for the oil and gas industry, which is expected to grow at a CAGR of close to 3% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global generator rental market for oil and gas industry into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Generator rental market for oil and gas industry in EMEA: EMEA has been a global hotspot for crude and natural gas production and the primary factor driving the growth of the drilling industry in the region is the low cost of crude production. The cost of crude production in Kuwait and Saudi Arabia is low and hence profitable.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio, specializing in research on power, “The growing exploration activities in the North Sea are helping EMEA to gain a dominant position in the generator rental market for the oil and gas industry. The exploration activities facilitate the use of power rental generators in the far off deep waters and ultra-deep water locations.”
Generator rental market for oil and gas industry in the Americas: The generator rental market for oil and gas industry in the Americas is anticipated to grow at a moderate rate during the forecast period. The growth of the market is attributed to the intermittency and variability of the crude oil prices. The US is the major end-user of the region and is exploring more offshore resources.
Generator rental market for oil and gas industry in APAC: The market in APAC is expected to grow moderately due to the increasing oil and gas activities in several countries of the region. Indonesia, Malaysia, China, and India are the major revenue contributors to the region.
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The top vendors operating in the global generator rental market for the oil and gas industry are:
- Aggreko
- APR Energy
- Atlas Copco
- Energyst
- United Rentals
Other prominent vendors in the market include Altaaqa Global, Ashtead Group, Byrne Equipment Rental, Cummins Power, Doosan Portable Power, Hertz Equipment Rental, Kohler Power, Sumberdaya Sewatama, Himoinsa, APac Energy, and Modern Hiring Service.
A more detailed analysis is available in the Technavio report titled, ‘Global Generator Rental Market for Oil and Gas Industry 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Generator Market for Telecom Sector 2016-2020
- Global Generator Market in the Healthcare Sector 2016-2020
- Global HVAC Rental Equipment Market 2016-2020
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