NEW YORK, April 11, 2018 (GLOBE NEWSWIRE) -- According to the new market research report published by P&S Market Research, Global power rental market is projected to reach $16,855.5 million by 2023, Upsurge in the demand from the events and entertainment industry and power needs in the natural disaster-affected regions are some of the factors driving the power rental market growth. Power rentals are temporary power sources; they are usually diesel or gas based and are available in a variety of power ratings in the market. They are rented for both short and long durations, ranging from months to years.
Request to Get the Sample Pages: https://www.psmarketresearch.com/market-analysis/power-rental-market/report-sample
Diesel-based generators held the largest share in the power rental market during the historical period and are estimated to contribute more than 75.0% share to the market in 2017. The wide prevalence of diesel-based generators can be attributed to their relatively reasonable cost, long life, and low maintenance requirement as compared to other generators. Continuous power-based generators held the largest share in the power rental market during the historical period and are estimated to account for more than 45.0% share in the market in 2017. Industrial sites, oil and gas facilities, and construction and mining sites are some of main end users of continuous power-based rental generators driving their market growth.
The end-user category of utilities held the largest share in the power rental market during the historical period and is estimated to account for more than 45.0% share in the market in 2017. Increase in government regulations with respect to growing concerns regarding harmful emissions from old and outdated thermal power plants is driving the use of power rentals in the utilities sector, which, in turn, is contributing to their market growth.
Generators of power rating 51 kW–500 kW held the largest share in the power rental market during the historical period and are estimated to account for more than 45.0% of the market in 2017. The increasing demand for rental generators of 51 kW–500 kW power rating for different residential and commercial purposes is expected to drive their market growth.
Browse report overview with 83 tables and 57 figures spread through 140 pages and detailed TOC on "Power Rental Market by Fuel Type (Diesel Generators, Gas Generators), by Application (Prime Power, Standby Power, Continuous Power), by End User (Utilities, Oil & Gas, Industrial, Construction, Events, Mining), by Power Rating (Up to 50 kW, 51 kW–500 kW, 501 kW–2,500 kW), by Geography (U.S., Canada, Germany, France, U.K., Italy, Spain, China, Japan, India, Brazil, Mexico, Saudi Arabia, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023" at: https://www.psmarketresearch.com/market-analysis/power-rental-market
During the forecast period, the power rental market is expected to witness the highest growth, of 11.0% CAGR, in the MEA region. This can be attributed to the growing utilities sector, increasing number of construction projects, power grid unavailability in remote locations, extreme weather events, and post-disaster emergencies in the region. Also, the region is expected to continue holding the largest share, of more than 30.0%, in the power rental market in the coming years.
Some of the major players operating in the global power rental market are Aggreko PLC, APR Energy, Caterpillar Inc., United Rentals Inc., Cummins Inc., Herc Holdings Inc., Atlas Copco AB, Ashtead Group PLC, Al Faris Group, and Quippo Infrastructure Equipment Limited.
More Reports by P&S Market Research
Critical Power and Cooling Solutions Market
The global critical power and cooling solutions market is likely to grow from USD16,320 million in 2016 to USD32,900 million by 2023. With increasing investments in to small and medium-sized businesses (SMBs) and increasing infrastructural development activities in various sectors such as IT and telecommunication, retail and healthcare, and data centers, the demand for critical power and cooling solutions is expected to gain traction during the forecast period. Moreover, increasing demand for backup power and cooling solutions to avoid data loss is expected to further spike the demand for critical power and cooling solutions during the forecast period.
https://www.psmarketresearch.com/market-analysis/critical-power-and-cooling-solutions-market
Energy Storage Market
The global market for energy storage is likely to grow from $2,663.2 million in 2016 to $26,137.0 million by 2022. With the growing adoption of energy storage in various end-user industries for grid and off-grid applications, the global energy storage market is expected to gain traction. The energy storage market offers ample growth opportunities during the forecast period on account of falling costs associated with the manufacturing of batteries, in conjugation with car manufacturers scaling up the production of electric vehicles.
https://www.psmarketresearch.com/market-analysis/energy-storage-market
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact:
P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Connect with us: LinkedIn | Twitter | Google + | Facebook