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Power Rental Market

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Power Rental Market report categorizes the global market by Fuel Type, by Applications, and by Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Power Rental Market - Insights, Size, Share, Opportunity
Analysis, and Industry Forecast till 2025
Power rental plants are required for temporary supply of power for industries
due to the supply-demand gap in electricity. To avoid financial losses, industries
requires a constant power supply. Therefore, industries use additional power by
introducing short-term initiatives, such as leasing or renting addition power by
using diesel generators to fulfill their need for power.
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Major drivers propelling the growth of power rental market globally include
rapidly developing construction industry. According to CMI, the global
construction industry is projected to expand at a CAGR of 5.8% from 2017 to
2025.
North America led the power rental market and is expected to witness a CAGR
of 6.4% during the forecast period. Increasing demand for electricity and
challenges in power sector, such as federal carbon policies on carbon emission
and meeting energy targets are the main reasons for development of power
rental market in this region. The emerging economies in Asia Pacific such as
India and China, are expected to propel the growth of power rental market in the
region in near future. Furthermore, industries such as construction, event, oil
and gas, mining, manufacturing, and shipping have a high requirement for rental
electricity for continuous operation. These factors are highly responsible for the
growth of the power rental market in Asia Pacific.
Among applications, base load/continuous segment held the leading position
with a market share of around 43.5% in the power rental market in 2016. Base
load or continuous power plant takes minimum power generation to provide
continuous electricity supply. The other types of continuous power plant are
geothermal power plant, tidal power plant, and coal-fired power plant among
others.
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pallavi.reddy
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