Power Rental Market Insights by Emerging Trends, Future Growth, Top Key Players, Product Type, Revenue Analysis, Demand Forecast to 2023

Power Rental Market Insights by Emerging Trends, Future Growth, Top Key Players, Product Type, Revenue Analysis, Demand Forecast to 2023

Aug 20, 2021 (MENAFN via COMTEX) —

(MENAFN – Comserve) Shibuya-ku, Tokyo, Japan, Japan, Aug 20, 2021, 04:04 /Comserve / — This detailed analysis includes market size and forecasts, covering regional analysis, trends, opportunities and COVID-19 analysis. The analysis also includes key players with business strategies and key indicators that influence market growth.

The power rental market is projected to reach USD 21.2 billion by 2023 from an estimated USD 14.5 billion in 2018, at a CAGR of 7.89%. This can be attributed to increase in power loss due to aging infrastructure and limited access to electricity in rural areas. Slowdown of global economies and uncertainty in raw material prices can hinder the growth of the market.

The 1,501 kW – 2,000 kW segment held the largest market share in 2017 during the forecast period. These range generators are used in the mining, oil & gas, manufacturing, shipping and utility sectors. These generators are required to provide standby power as well as power during peak shaving. 1,501 kW – 2,000 kW are required in the remote locations where emergency power is required. Increasing power loss due to aging infrastructure in the developed economies will add additional power burden. Hence, to meet the power demand in such regions power rental solutions are used during outages and maintenance activity.

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"The Final Report will cover the impact analysis of COVID-19 on this industry: Power Rental Market Insights by Emerging Trends, Future Growth, Top Key Players, Product Type, Revenue Analysis, Demand Forecast to 2023

The standby power segment is expected to grow at the fastest rate during the forecast period. The standby generator is an emergency generator which is used when there is the power outage. 501 kW – 500 kW and 501 kW – 2,500 kW power rating is used as standby generator. The generator is required for oil & gas, mining, construction, and manufacturing among others. The demand for standby power application will increase as in some regions there are aging infrastructure and less access to electricity. In Africa region, the economies of Nigeria, Algeria, and South Africa are growing, which in turn are creating requirement for additional power. Standby power rental solutions are used to meet the growing requirement in the region and across different countries suffering with power deficit.

Africa is expected to grow at the fastest rate during the forecast period. The African power rental market is majorly driven by the utility segment. The African mining industry accounts for nearly 13% of the world’s mining activities. The frequent power outage, unstable power supply and aging power infrastructure in the region are driving the mine operators to shift towards power rental solution to meet their power requirement.

Fill This Form and get the Sample Copy of This Report: 
"The Final Report will cover the impact analysis of COVID-19 on this industry: Power Rental Market Insights by Emerging Trends, Future Growth, Top Key Players, Product Type, Revenue Analysis, Demand Forecast to 2023

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1- 60%, Tier 2- 27%, and Tier 3- 13%
By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
By Region: North America- 40%, Asia Pacific- 21%, Europe- 15%, Middle East & Africa- 13%, and South America- 11%

Research Coverage:
The report defines, describes, and forecasts the global power rental market by fuel type, application, equipment ,power rating, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the power rental market

TABLE OF CONTENTS
1 INTRODUCTION 19
1.1 OBJECTIVES OF THE STUDY 19
1.2 MARKET DEFINITION 19
1.3 MARKETS COVERED 20
1.4 YEARS CONSIDERED FOR THE STUDY 21
1.5 CURRENCY 22
1.6 LIMITATIONS 22
1.7 STAKEHOLDERS 22

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