Selbyville, Delaware, June 16, 2020 (GLOBE NEWSWIRE) --
Global Power Rental Market is set to cross USD $14.77 Billion by 2026, as reported in the latest study by Global Market Insights, Inc. Power rental industry will grow owing to increasing severity and frequency of weather-related disasters leading to power outages. Expanding commercial centers coupled with significant economic transformation and increasing urbanization will augment the industry outlook. Moreover, fuel shaving, extra power and enhanced reliability are some of the key factors complementing the business landscape.
Global market is set to grow owing to refurbishment of existing industries coupled with modernization of manufacturing units. The end-users are increasingly focusing toward leasing the equipment for short term rather than owing it. In addition, low initial cost, ease of installation and high efficiency are few of the key parameters encouraging the industry outlook.
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Rising consumer awareness toward uninterrupted power supply and lack of transmission network will positively influence the >750 kVA power rental market statistics. Wide scale adoption across industrial establishments including O&G, mining, electric utilities and healthcare is anticipated to strengthen the business scenario. In addition, manufacturers are offering beneficial rental schemes to the customers which in turn will augment the demand for power renting systems.
Some prime findings of the power rental market report include:
- Power rental industry is growing across healthcare, marine, telecom, data center and electric utilities.
- Increasing temporary need for a power unit or equipment instead of spending the extra reserves to own it is complementing the business scenario.
- Ongoing investments across infrastructural development and construction activities is projected to drive the business development.
- Key players operating across the global market are Atlas Copco, Caterpillar Inc., Aggreko PLC, United Rentals and Cummins.
- Gas based units are experiencing a significant increase in installation on account of strict government directives to adopt energy efficient technologies.
Browse key industry insights spread across 385 pages with 528 market data tables & 54 figures & charts from the report, “Power Rental Market Analysis By Power Rating (< 75 KVA, 75-375 KVA, 375-750 KVA, >750 KVA), By Fuel (Diesel, Gas, Others), By End-Use (Telecom, Data Center, Healthcare, Oil & Gas, Electric Utilities, Offshore, Manufacturing, Construction, Mining, Marine, Others), By Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/power-rental-market
The global economy is hit by COVID- 19 pandemic where numerous industries including construction & manufacturing and all parts of the supply chain endure to be impacted. In China, even after continuing the operations, the OEMs are facing challenges of recommencing their production capacity and builders are experiencing the impact of shortages in their supply networks. However, ongoing development of healthcare facilities and rising demand for minimal production with an aim to face the pandemic is anticipated to enhance the product installation.
Wide scale utilization across O&G and mining sector will drive the peak shaving power rental market share. Increasing demand of power during peak hours by the large-scale industries will accelerate the technological adoption. Moreover, ongoing development of railways along with other increasing mobility and backup power requirements is set to complement the product penetration.
UAE power rental market is set to witness over 4% CAGR through 2026. Ongoing government emphasis on energy efficiency followed by adoption of numerous techniques to combat carbon emissions is set to augment the business scenario. Moreover, the up-scaling deployment of on-site gensets in remote locations to power advancing drilling equipment will contribute to industry expansion.
Toc of this report @ https://www.gminsights.com/toc/detail/power-rental-market
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.