At 8+% CAGR, Power Rental Market Potentially Worth $20.64 Billion by 2022 Led by North America
PUNE, India, July 30, 2017 /PRNewswire-iReach/ -- The events segment is expected to be the fastest growing power rental market, by end-user, from 2017 to 2022. Events are defined as planned public or social occasions and can be classified as musical, sports, and other entertainment activities. In this study, sporting events have also been considered as part of the market. The sports market recorded an expenditure of $145 billion in 2015 and is expected to grow at a CAGR of 4% (approximately) over the next five years. Complete report on "Power Rental Market" spread across 195 pages, profiling 18 companies and supported with 92 tables and 43 figures is now available at http://www.rnrmarketresearch.com/power-rental-market-by-fuel-diesel-gas-duel-fuel-hfo-power-rating-end-user-utilities-oil-gas-events-construction-mining-manufacturing-shipping-application-peak-shaving-base-load-stand-by-by-r-st-to-2021-market-report.html .
At events, there is a need to fast-track power to maintain a continuous supply of electricity resulting in the high demand for power rental solutions and providing a boost to the power rental market. The events power rental markets in Europe and North America are expected to have larger shares in comparison to the markets in other regions.
The 1,501 kW-2,000 kW segment is expected to be the largest power rental market, by power rating. Generators in the 501 kW-2,500 kW power rating category are used in the mining, oil & gas, manufacturing, shipping, and utility sectors. These generators can be used to provide standby power as well as power during peak shaving.
The European power rental market is expected to grow at the highest CAGR from 2017 to 2022. The increasing power consumption and aging power plants in Europe are driving the power rental market in the region. Furthermore, a majority of the nuclear power plants in Europe are over 40 years old, thus, increasing the risks of power outages and further driving the demand for power rental solutions.
This research study is obliging for following audience:
1. Power utility providers
2. Distributed energy generation solution providers
3. Power rental vendors
4. Government and industry associations
5. State and national regulatory authorities
6. Distribution grid operators
7. Energy regulatory agencies
8. Investors and financial community professionals
9. State or government-owned corporations
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the power rental market, such as Caterpillar, Inc. (U.S.), Aggreko, PLC (U.K.), Cummins, Inc. (U.S.), United Rentals, Inc. (U.S.), and APR Energy, PLC (U.S.). The leading players are trying to gain footholds in the markets in developing countries and have been adopting various strategies to increase their market shares.Download PDF Brochure "Power Rental Market by Fuel (Diesel, Gas, Dual Fuel & HFO), Power Rating, End Users (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping), Application (Peak Shaving, Base Load, Stand by), by Region - Global Forecasts to 2022" research report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=636953 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (62%), Tier 2 (23%) and Tier 3 (15%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (35%), Director Level (40%) and Engineer Level (25%) from various key organizations operating in the power rental market. The primary interviews were conducted worldwide covering regions such as Asia-Pacific (35%), Middle East (20%), North America (15%), Europe (12%), Africa (10%) and South America (8%).
Power rental solutions are required by end-users, such as the utilities, oil & gas, manufacturing, and events sectors, that do not have access to permanent or sufficient grid power to managing peak loads and ensure smooth functioning. Moreover, these solutions can be deployed with a lower turnaround time and are less capital-intensive, which is expected to boost the demand for power rental solutions. The lack of power infrastructure and an increase in power demand would further drive the demand for power rental solutions.
On a related note, another research titled Power Rental Global Contracts & Deals Analysis 2011 to 2015 says, the Growing construction and developmental activities are expected to drive the power rental market. Contracts & Agreements accounted for the largest development share from 2011 to 2015. Africa is expected to lead the global power rental market in terms of growth rate, followed by North America. Companies such as Aggreko plc. (U.K.), Caterpillar Inc. (U.S.), APR Energy plc. (U.S.), Ashtead Group Plc. (U.K.), Cummins Inc. (U.S.) Atlas Copco (Sweden), Hertz Corporation(U.S.), Speedy Hire Plc.(U.K.), United Rentals Inc.(U.K.), Kohler Co. Inc. (U.S.), Smart Energy Solutions (UAE), Generac Power Systems (U.S.) have been profiled in this 164 pages research report available at http://www.rnrmarketresearch.com/power-rental-market-by-end-user-industry-peak-primebase-standby-application-diesel-gas-generatorengine-type-global-trends-forecasts-2012-2017-market-report.html .
About Us:
RnRMarketResearch.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 100+ leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.
Connect with Us:
G+ / Google Plus: https://plus.google.com/104156468549256253075/posts
Twitter: https://twitter.com/RnRMR
Facebook: https://www.facebook.com/pages/RnR-Market-Research/413488545356345
RSS / Feeds: http://www.rnrmarketresearch.com/feed
Media Contact: Ritesh Tiwari, RnR Market Research, +1-888-391-5441, sales@rnrmarketresearch.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE RnR Market Research
