London, 10 December 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Power Rental Market 2015-2019, which is expected to grow at a CAGR of 17.6 percent during the forecast period of 2014-2019.
Growing demand for electricity and an increase in financial benefits from renting have driven the growth of the Power Rental business at the global level. There is a huge demand for rental power as a base and peak load power to ensure the smooth functioning of various end-user segments such as the Construction and Industrial sector and Power Utilities.
“Many industries require limited power based on the projects they are working on; hence they are shifting their focus to rented power, as it is more cost-effective than developing a permanent power supply structure,” says Faisal Ghaus, Vice President of TechNavio.
“Utility service providers are also increasingly using rental power for load shedding and grid voltage maintenance.”
Key Market Drivers
- Poor T&D Infrastructure in Developing Countries
- Reliance on Rental Power to Meet Electricity Demand of Remote Areas
- Increase in Power Consumption
- Increase in Electricity Demand because of Natural Calamities
Key Market Trends
- Increased Demand for Electricity
- Increased Demand from Power Utilities and Construction and Industrial Sector
- Growing Oil and Gas Industry
Key Market Vendors
- Aggreko Plc
- APR Energy Plc
- Cummins Inc.
- Energyst CAT Rental Power
- United Rentals Inc.
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
