Global Power Rental Systems Market by application (Peak Shaving, Continuous Power, and Standby) –by End use (Government and Utilities, Oil, Gas and Mining, Construction, Industrial, and Events) –by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) – is expected to reach US$ 30.12 Bn by 2026, at a CAGR of 13.13%.
The global power rental systems market is driven by the increasing grid instability due to the aging of conventional grids. The global power rental systems market will also benefit from the increasing awareness about curtailing the energy demand during peak hours. Other factors that will fuel the global power rental systems market include the increasing preference to renting power instead of buying it.
Moreover, the market will be challenged by the increasing focus of nations on renewable energy and payment issues in developing and underdeveloped nations. Concerns regarding emissions from power rental equipment is a major hindering factor for this industry.
Power rental units help in curtailing the power demand during seasonal peak hours, thereby controlling electric billing costs.
In terms of application, Peak shaving is a technique to decrease power bills by curbing the power consumption during peak hours when electricity rates are the highest. Power rental units help in curtailing the power demand during seasonal peak hours, thereby controlling electric billing costs.
Oil & Gas industry is one of the largest consumers of power in the world
Based on end-user, Oil & Gas industry is one of the largest consumers of power in the world. The use of power rental systems helps these industries distribute power loads between peak and non-peak hours thereby reducing the electrical power cost considerably. Moreover, the emerging oil and gas industry in the Middle East and Asia Pacific coupled with demand supply gap in power is anticipated to augment the demand for power rental systems in this segment.
The Middle East & Africa region has been the largest power rental systems market
In terms of region, the Middle East & Africa region has been the largest power rental systems market globally and is also expected to be the fastest-growing market in the upcoming years. The demand for power rental systems market in the Middle East was valued at US$ 2,650.0 million in 2017.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Aggreko PLC, Herc Holdings Inc., APR Energy, Caterpillar Inc., United Rentals Inc., Cummins Inc., Atlas Copco AB, Ashtead Group PLC, Al Faris Group, and Quippo Infrastructure Equipment Limited.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global power rental systems market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global power rental systems market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global power rental systems market positioning of competitors.
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