Global Power Rental Market Scenario
According to the latest report by Market Research Future (MRFR), the global power rental
market is slated to surpass a substantial market valuation of USD 21,765.1 million at a steady
9.06% CAGR over the review period.
The most significant factor for the global power rental market growth is the rising usage of
rented generators in various commercial and industrial applications. Other crucial factors that
favour market growth include a lack of power supply and the rise in the usage of power rental
equipment. furthermore, many countries are focusing on expanding their infrastructure; heavy
investments have been made to boost infrastructural activities globally. This is also expected
to have a positive impact on the growth of the market in the near future. However, emission
regulations for diesel engines are the influential factor that may hamper the growth of the
market.
Also Read: http://www.marketwatch.com/story/power-rental-market-2020-to-2023-covid-19-
outbreak-latest-trends-emerging-technologies-size-share-analysis-future-scope-and-regionalforecast-2020-06-18
Segmental Analysis
The global power rental market has been segmented on the basis of end-user, application, and
fuel type.
The application-based segmentation of this market has been conducted into the peak shaving,
baseload, and stand by power.
Based on end-user, the power rental market has been segmented into manufacturing,
construction, oil & gas, mining, utilities, shipping, and others.
By fuel type, the power rental market has been segmented by fuel type, into gas, diesel, and
others.
Regional Analysis
on the basis of region, the global power rental market has been segmented into Asia Pacific,
Europe, North America, and the rest of the world (RoW).
North America accounts for the dominant market share in the global market. The essential
factors leading to market growth in this region include recurrent power outages caused by aging
grid infrastructure and frequent natural calamities. Other significant factors leading to the
market growth are growing demand for rented generators by the industrial sector and the
presence of numerous major market players in this region. the major countries in the region are
US and Canada.
During the assessment period, the Asia Pacific market is likely to grow at 8.98% CAGR. In
this region, factors supporting the market comprise of the continual growth of developmental
and constructional activities. Another factor favorable for market growth is the rapid rise in the
demand-supply gap of electric power in developing economies like China and India. Japan is
also considered one of the major countries in its region.