SAN ANTONIO, May 24, 2016 (GLOBE NEWSWIRE) -- Verify Markets reports that the power rental markets in Australia and New Zealand reached a combined revenue of $345.2 million in 2015 (http://www.verifymarkets.com/products/2016-australian-and-new-zealand-power-rental-market). They are primarily driven through the demands from the mining industry. Lower mineral commodity prices are affecting Australia’s mining industry and act as the major challenge for the country’s power rental market. Arranging for transport of equipment between islands in New Zealand is the major challenge for the power rental market in the country.
New Zealand is a mature market and is therefore expected to witness a low growth rate during the forecast period, from 2016 to 2022. On account of lower mineral commodity prices, the power rental market in Australia will witness slow growth in the coming two to three years. The growth rate of power rental in Australia is expected to increase after three years when the increase in prices of mineral commodities are expected.
Generators sizing more than 1 MW were the dominant contributor to the power rental market in Australia and New Zealand. Apart from mining, the oil and gas industry, manufacturing industry, utility, construction industry and events were the major end user industries in the power rental markets.
Natural gas contribution to the power rental market in Australia is expected to increase during the forecast period. Data centers and peak shaving requirements are expected to become a major contributor to power rental market of New Zealand during the forecast period.
For further details and a full analysis on the Australia and New Zealand Power Rental Market, please visit www.verifymarkets.com. For more reports on the power rental market, you can visit http://www.verifymarkets.com/collections or, email us at info@verifymarkets.com.