GOOG - Power Rental Market Detailed Overview Scope Trends and Industry Analysis Research Report
Upsurge in the demand from the events and entertainment industry and power needs in the natural disaster-affected regions are some of the factors driving the power rental market growth. Power rentals are temporary power sources; they are usually diesel or gas based and are available in a variety of power ratings in the market. They are rented for both short and long durations, ranging from months to years.
Diesel-based generators held the largest share in the power rental market during the historical period and are estimated to contribute more than 75.0% share to the market in 2017. The wide prevalence of diesel-based generators can be attributed to their relatively reasonable cost, long life, and low maintenance requirement as compared to other generators.
Continuous power-based generators held the largest share in the power rental market during the historical period and are estimated to account for more than 45.0% share in the market in 2017. Industrial sites, oil and gas facilities, and construction and mining sites are some of main end users of continuous power-based rental generators driving their market growth.
The end-user category of utilities held the largest share in the power rental market during the historical period and is estimated to account for more than 45.0% share in the market in 2017. Increase in government regulations with respect to growing concerns regarding harmful emissions from old and outdated thermal power plants is driving the use of power rentals in the utilities sector, which, in turn, is contributing to their market growth.
The events and entertainment industry demands a proper setup of rental power to ensure smooth operations during short and long events. The industry events include business events, music concerts, festival celebrations, sports, weddings, and fairs. Power rental companies offer reliable light towers or generators of different power ratings, depending upon the requirement of an event. Currently, the events and entertainment industry is flourishing at a high rate owing to the increasing number of events organized annually, such as sports leagues, concerts, private functions, and product launches.
Some of the major players operating in the global power rental market are Aggreko PLC, APR Energy, Caterpillar Inc., United Rentals Inc., Cummins Inc., Herc Holdings Inc., Atlas Copco AB, Ashtead Group PLC, Al Faris Group, and Quippo Infrastructure Equipment Limited.
Source : P&S Intelligence