Feb 12, 2019 (Heraldkeeper via COMTEX) -- Power Rental Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2023. Power Rental Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.
Power Rental Market – Overview
Global power rental market is projected to reach USD 21,765.1 million by 2023, at a CAGR of 9.06% from 2017 to 2023. The power rental is defined as renting of generator sets for the power generation and that runs on gas, diesel, or any other fuel. They are used in various industrial and commercial applications. Shortage of power supply, will ultimately increase in the use of power rental equipment. This will lead to the growth of this market. The growing demand from the construction industries fueling the overall growth in the power rental market.
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In India, the demand of electricity has always been more than the supply, which causes problems for many industries. To boost the development of power supply, the government of India has created many corporations such as State Electricity Boards (SEB), NTPC Limited, and NHPC limited. Even after this developments there is shortage of power supply in the country. Hence the use of power rental equipment is more. Additionally, many countries looking to develop their infrastructure, heavy investments have been made to boost the infrastructural activities globally. This also has the positive impact on the growth of the market. However, emission regulations for diesel engines, is the factor that may hamper the growth of market.
The key players of global power rental market are Aggreko Plc. (U.K.), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Herc Rentals Inc. (U.S.), Speedy Hire Plc. (U.K.), Ashtead Group Plc. (U.K.), United Rentals, Inc. (U.S.), APR Energy (U.S.), Bredenoord Exploitatiemij B.V. (The Netherlands), L.M. Generating Power Co. Ltd. Ltd (Canada) and others.
By Fuel Type
Stand by Power
Oil & Gas