The power-rental refers to the facility of leasing the power-plants for energy supply to the industrial units. It offers working energy equipment as well as various scalable components that are installed in power plants. Additionally, it provides flexibility, speed, reliability, and cost-effectiveness to the businesses for coping with short-term power outages. Power rental services are designed to alleviate the utility power grids and also provide additional energy to industries & support communities. Therefore, it finds wide-ranging application across the mining, construction, and oil & gas industries.
As per analysis, Power Rental Market: By Fuel Type (Diesel Generators and Gas Generators); By Power Rating (Less Than 50 KW, 51 KW to 500 KW and Above 500 KW), By Application (Peak Shaving, Base Load and Standby), By End-User (Utilities, Oil & gas, Events, Construction, Mining, Manufacturing, Telecom & Datacenter and Others) and Region: Global Analysis by Market Size, Share & Trends for 2014-2020 and Forecasts to 2030. the key companies operating in the global power rental market include Bredenoord, Atlas Copco AB, Cummins Inc., AGGREKO PLC, Kohler Co., Bowman Power, Ashtead Group plc, Caterpillar Inc., Atlas Copco AB and among others.
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In terms of fuel type, power rental Industry can be segregated as gas generators and diesel generators. Diesel generators segment dominates the global market owing to its ability to provide scalable, weather-independent, and flexible operations. In terms of power rating, market can be segregated as up to 50 KW, 51 KW-500KW and 501 KW-2,500 KW. In terms of application, market can be segregated as standby power, peak shaving and base load/continuous load. Additionally, in terms of end-user, market can be segregated as events, oil & gas, utilities, mining, construction, telecom & datacenter, manufacturing and others.
Rise in need for electrification and continuous power supply in developing regions, followed by growth in demand for continuous power supply from mining and oil & gas industries, increase in aging power infrastructure & rise in need for grid stabilization and growth in foreign investments along with ongoing technological advancements are some major factors, which are responsible for growth of the power rental market. Apart from this, stringent regulations pertaining to the emission reduction in fossil fuel-powered equipment and fluctuations in fuel & mining commodity prices may impact the market. Moreover, surge in advent of digital technology solutions for operations enhancement and growth in integration of power rental generators with renewable energy sources are leading opportunities for market.
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Based on regional analysis, the North-America is a leading region in global power rental market owing to rise in demand for uninterrupted power supply and increase in intensity & frequency of weather-related disasters across the region. The Asia-Pacific and Europe regions are anticipated to witness higher growth rate due to rapid industrialization & infrastructure development, growth in datacenter industry and rise in trend in real estate sector over the forecast period. It is projected that future of the global power rental market will be bright caused by growth in improvement in power infrastructure coupled with increase in demand of power outages during the forecast period.
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