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Power rental market expected to reach US$ 21.35 billion by 2023 according to market forecasts

Industrial Market Research

Latest Global Power Rental Market Published report by Genesis Market Insight. This Global Power Rental Market report can be considered increasing the market growth factors. Reports in detail analysis fulfill the client requirements and can provide end to end industry information. The report is best to make the business stronger and beneficial for future references. This Global Power Rental Market Report includes Product Analysis, Regional Analysis, Global Scope, Key Findings and others.

GLOBAL POWER RENTAL MARKET was valued at USD 13.29 Billion for the year 2017. Power Rental Market Make an Inquiry about this news is further expected to grow at a CAGR of 8.22% from 2018 to reach USD 21.35 Billion by the year 2023.

North America region holds the highest market share in 2017. While European region is considered as the fastest growing market in the forecasted period.

The U.S. is the major market in 2017 at country level and the UK is further anticipated to grow at a steady pace in the next 5 years.

Caterpillar, Inc. (U.S.), Aggreko, PLC (U.K.), Cummins, Inc. (U.S.), United Rentals, Inc. (U.S.) Atlas Copco (Sweden) are some of the top players in the Power Rental Market with Caterpillar Inc.

holding a substantial market share in 2017. Better global reach, both at an operational level is the main reason for holding this market share.

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Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years.

Drivers:

             Overconsumption of power from obsolete power plants

Restraints:

             Strict emission rules for different regions

Opportunities:

             Emerging smart cities and related projects in different countries

Challenges:

             Reducing the demand-supply gap

The segmentation done on the basis of fuel type include Gas Generators, Diesel Generators and others of which the Diesel Generator segment is expected to hold the highest market share during the forecast period.

The Gas Generator segment is expected to grow at the highest CAGR during the forecasted period.

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Key Benefits for Stakeholders

Power Rental vendors

Research and Consulting organization

Government bodies

End-use industries

Regulatory bodies, policymakers and consumers.

By Fuel Type

Diesel Generators

Gas Generators

Others

By Industry Sector

Oil & Gas

Construction

Manufacturing

Shipping

Mining

By Application

Base Load

Stand-by Power

Peak Shaving

By Region

North America

Europe

Asia-Pacific

ROW

Key Market Players

Atlas Copco

United Rentals, Inc.

Caterpillar, Inc.

Cummins, Inc.

Kohler Co.

Aggreko, PLC

Power Electrics Bristol Limited

APR Energy, PLC

Rental Solutions & Services, LLC

Smart Energy Solutions

Hertz Equipment Rental Corporation

Soenergy International, Inc.

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