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.
For full research report on Power
Rental Systems Market visit here: https://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.
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here: https://www.grandviewresearch.com/industry-analysis/power-rental-systems-industry/request/rs1
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
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.
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