Technavio, a tech-focused market research firm, has published a new report on the global power rental accessories market, which is expected to grow at a CAGR of more than 3% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global power rental accessories market into the following key regions: the Americas, APAC, and EMEA.
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Power rental accessories market in the Americas: The demand for generators is high in the Americas due to natural calamities like hurricanes and tornados that cut off power grid supplies in the region. These generators serve as an alternative backup solution that ensures continuous electric power supply during such situations. The US is the highest revenue generator of power rental accessories in the American market. The demand for other accessories like fuel tanks, cables, and transformers are increasing as well, and it is supplied as part of the rental power packages across the region.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio, specializing in research on power, “The developmental activities in Latin American countries like Brazil and Argentina will increase the opportunities for these accessories in the region. The increasing investment in Brazil for the construction of renewable energy plants will boost the demand for load banks in the region. The growing renewable energy sector will drive the power rental accessories market in the Americas during the forecast period.”
Power rental accessories market in EMEA: The infrastructure development in Cooperation Council for the Arab States of the Gulf (CCASG) countries will boost the demand for power rental accessories in the EMEA market. The government in these countries are investing in the construction and improvement of metro rail systems, expressways, hotels, and stadiums, thereby contributing to the growth of the market in the region. The construction of the wind farm will increase the use of generators and load banks during the commissioning stage, operation, and maintenance. Developments and construction activities will be the primary reason for the growth in this region.
Power rental accessories market in APAC: The growing exploration and production activities and power requirements in APAC will make it the fastest growing region in the market. Countries like India, China, Vietnam, Indonesia, Thailand, and the Philippines will be the major revenue contributors in the APAC market. High investments in fossil fuel and renewable power plants will also fuel the demand for power rental accessories in the coming years.
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The top vendors operating in the global power rental accessories market are:
- Aggreko
- Atlas Copco
- Caterpillar
- Energyst
- Sunbelt Rentals
Other prominent vendors in the market include Altaaqa Global, APac Energy Rental, APR Energy, Ashtead Group, BPC Power Rentals, Byrne Equipment Rental, Crestchic, Cummins Power Generation, Herc Rentals, HIMOINSA, Kohler, Red-D-Arc, PT Sumberdaya Sewatama, and United Rentals.
A more detailed analysis is available in the Technavio report titled, ‘Global Power Rental Accessories Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Industrial Uninterruptible Power Supply Market 2017-2021
- Global Electrical Enclosures Market for Power Industry 2016-2020
- Global Valves Market for Power Industry 2016-2020
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