Power rental market in the Middle East: Key market research findings
- Use of gas and hybrid generators as rental power
- Increased demand from oil and gas industries
Technavio has added a new market research report on the power rental market in the Middle East to its power portfolio. The power rental market in Middle East is expected to grow at a CAGR of around 19% between 2015 and 2019. Saudi Arabia, Qatar and UAE are the major revenue contributing countries of this region, owing to increased electricity consumption in these nations.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Large oil and gas reserves and production in the Middle East require continuous power supply which has expanded the use of rental power in the region. Most of these refineries are located in remote areas sans grid network, which makes rental power mandatory in powering oil refineries and rigs. Rental power acts as a temporary power source in onshore and offshore oil and gas fields,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
Gas-powered generators are gaining traction in the global market, as they increase power output and reduce fuel consumption. These generators are cost-efficient, produce less emissions and noise, when compared to diesel generators. Moreover, power rental services are increasingly adopting these gas generators as they are cleaner and cheaper than other non-renewable fuels. Manufacturers are also developing hybrid generators that run either on both diesel and gas or on a combination of batteries, charging system, generators, and renewable energy connections. Mostly used in the telecom sector, these generators are maintenance free and ensure uninterrupted power supply in remote areas.
The leading vendors in the power rental market in Middle East are Aggreko, Altaaqa, APR Energy, Bryne Equipment, and Cummins. Existence of large number of vendors has led to intense competition in the market. New players are entering the market with alternate energy sources for the end-users.
A more detailed analysis is available in the Technavio report, Power Rental Market in the Middle East – Market Research 2015-2019.
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