Power rental: Key market research findings
- Rise in power plant construction
- Growing demand from construction and utilities sectors
Technavio has released a new market research report on the power rental market in Southeast Asia, which is expected to grow at a CAGR of 11% between 2016 and 2020. Increase in manufacturing and infrastructure activities has led to increasing power consumption in the region. Increasing demand for power has triggered the demand for rental power, which fulfils the temporary supply-demand gap of electricity.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The governments of various countries in the region are setting up new power plants to bridge the supply-demand gap in power. As the power plant construction takes time, countries are renting power supplies for immediate requirements especially in the industrial verticals. Moreover, low electrification rates have necessitated the use of rental power as a base load in remote locations, and as standby or during an emergency in the region, says Sayani Roy, Industry Manager, Energy, Technavio Research.
The Southeast Asian region is going through various infrastructural activities leading to increased demand for continuous power supply. Moreover, rise in power consumption and lack of power has made grid powers highly unreliable. Observing high consumption rates, the countries are relying on temporary power supplies. Manufacturers are coming up with various power rental equipment to provide a reliable and scalable power backup especially in the construction and utilities verticals.
The leading vendors in the power rental market in Southeast Asia are Aggreko, APac Energy, APR Energy, Smart Energy Solutions, and Sewatama. This market is highly fragmented with the presence of several vendors. However, the market is dominated by prominent vendors that offer a series of generators with capacities ranging between 20 kW to 2,000 kW
A more detailed analysis is available in the Technavio report, Power Rental Market in South East Asia 2016-2020.
We can customize reports by other regions and specific segments upon request.
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