San Francisco, Nov 09 The
global power
rental systems market is expected to reach USD 24.08 billion by
2020, according to a new research report by Grand View Research, Inc.
Increasing grid instability coupled with power spikes in times of peak demand
is expected to be a key driver for the development of the market. In addition,
the increased focus towards reduction of peak power consumption in order to
reduce electricity cost is expected to augment the growth of the market.
Power
rental systems are used in a variety of industries where there is high demand
for continuous power. Key end-use markets for these systems were government,
oil and gas and construction, which together accounted for over 60% of global
revenues in 2012. High dependency on power for daily operation of these
industries is a key driver for substantial use of power rental systems. The use
of these systems in events, wherein there is high demand for temporary power,
was a small segment in 2012 but is expected to grow at a CAGR of over 16% from
2013 to 2020.
Browse full research report on Power Rental Systems Market:
www.grandviewresearch.com/industry-analysis/power-rental-systems-industry
Further key findings from the study suggest:
- The key
applications of power rental systems include peak shaving, continuous
power and standby power. However, use of these systems for peak shaving is
expected to be the critical factor for the development of this market and
is expected to grow at a CAGR of over 15% over the next seven years.
- Power rental
systems are primarily used for power shaving, continuous power or as
standby power device. The global market was dominated by continuous power
systems which accounted for more than 45% of the overall share in 2012. It
is expected that this substantial share will decrease by 2020, as demand
for peak shaving systems is rising to overcome the outages of grid
connection and curbing power bills. By 2020, it is estimated that peak
shaving systems will account for close to 34% of the market.
- Middle East
and Africa (MEA) was the largest regional market for power rental systems
in 2012, accounting for 33.9% of global revenues in 2012. The dominance of
this region with regards to the presence of oil and gas and construction
industry was the key factor for relatively high share and similar trend is
expected over the next seven years
- Asia Pacific
and North America were the other major regions in the market and together
accounted for over 40% of the market in 2012. However, North America and
Europe being mature markets are expected to lose share over the forecast
period in light of extensive environmental regulation in these regions.
Asia Pacific is expected to witness significant growth owing to the
development of economies such as India, China and Indonesia.
- The power
rental systems market was fragmented with the top 5 players accounting for
just over 50% of the market in 2012. Companies are targeting the Asia
Pacific and Middle East market in light of the vast opportunities in these
regions due to industrial growth of various economies and the presence of
a large oil and gas industry. Aggreko, Caterpillar and APR Energy are some
of the key participants of the market.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/backup-power-solutions
Grand
View Research has segmented the global Power Rental market on the basis of
application, product and region:
Power
Rental End-use Outlook
- Government
- Oil and Gas
- Construction
- Industrial
- Events
- Others
(Residential and telecommunications off grid areas)
Power
Rental Application Outlook
- Peak Shaving
- Continuous
Power
- Standby Power
Power
Rental Regional Outlook
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/power-rental-systems-industry
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
No comments:
Post a Comment