The global power rental market is projected to grow at a CAGR of 8.49%, from 2017 to 2022, to reach a market size of USD 20.64 Billion by 2022. This growth can be attributed to the increasing power demand, lack of power infrastructure, and revamping of old T&D infrastructure.
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The power rental market is projected to reach USD 20.64 billion by 2022, power rental market at a CAGR of 8.49%, from 2017 to 2022.
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At events, there is a need to fast-track power to maintain a continuous supply of electricity resulting in the high demand for power rental solutions and providing a boost to the power rental market. The events power rental markets in Europe and North America are expected to have larger shares in comparison to the markets in other regions.
The European market is expected to grow at the highest CAGR, from 2017 to 2022. The increasing power consumption and aging power plants in Europe are driving the power rental market in the region.
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Furthermore, a majority of the nuclear power plants in Europe are over 40 years old, thus, increasing the risks of power outages and further driving the demand for power rental solutions. Get Direct Access Complete Report Copy of Power Rental Market by Fuel (Diesel, Gas, Dual Fuel & HFO), Power Rating, End Users (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping), Application (Peak Shaving, Base Load, Stand by), by Region - Global Forecasts to 2022 at www.reportsnreports.com/purchase.aspx?name=628725
Power rental solutions are required by end-users, such as the utilities, oil & gas, manufacturing, and events sectors, that do not have access to permanent or sufficient grid power to managing peak loads and ensure smooth functioning. Moreover, these solutions can be deployed with a lower turnaround time and are less capital-intensive, which is expected to boost the demand for power rental solutions.
The lack of power infrastructure and an increase in power demand would further drive the demand for power rental solutions. The power rental market is driven by the increasing power demand, lack of power infrastructure, and lesser turnaround time.
However, there are various challenges faced by the market such as stringent emission regulations and a focus on renewable energy.
The events segment is expected to be the fastest growing power rental market, by end-user, from 2017 to 2022. Events are defined as planned public or social occasions and can be classified as musical, sports, and other entertainment activities.
In this study, sporting events have also been considered as part of the market. The sports market recorded an expenditure of USD 145 billion in 2015 and is expected to grow at a CAGR of 4% (approximately) over the next five years.
“Power rental market” spread across 195 pages, profiling 18 companies and supported with 92 tables and 43 figures and click here inquire of this Report @ www.reportsnreports.com/contacts/i….aspx?name=628725
Target Audience for this power rental market are:
- Power utility providers
- Distributed energy generation solution providers
- Power rental vendors
- Government and industry associations
- State and national regulatory authorities
- Distribution grid operators
- Energy regulatory agencies
- Investors and financial community professionals
- State or government-owned corporations
The leading players in the power rental market include Caterpillar, Inc. (U.S.), Aggreko, PLC (U.K.), Cummins, Inc. (U.S.), United Rentals, Inc. (U.S.), and APR Energy, PLC (U.S.). Contracts & agreements was the most commonly adopted strategy by the top players.
This was followed by new product developments, expansions and investments, and mergers & acquisitions.
The tier of the companies has been defined on the basis of their total revenue, as of 2016: Tier 1 = > USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion and Tier 3 = < USD 1 billion
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